Al Baraka Pledges Targets for United Nations' Global Goals for Sustainable Development
Al Baraka Social Responsibility Report
Corresponding with the launch of its Social Responsibility Report for 2013 and 2014, Al Baraka Banking Group (B.S.C.) has also announced its 2016-2020 Social Responsibility Priorities.
With this announcement Al Baraka has become one of the first global financial institutions to pledge its targets for supporting the Global Goals for Sustainable Development, which were adopted by the United Nation's General Assembly on September 25, 2015.
At this occasion, Mr. Adnan Ahmed Yousif, President & Chief Executive of Al Baraka Banking Group noted that "we are very proud to continuously demonstrate our keen commitment to contributing to the communities that we serve and operate in. Being one of the pioneers of Islamic banking, we believe that we have a greater responsibility to keep our core business model socially responsible and relevant to the growth and development of our customers and their communities".
Mr. Adnan Ahmed Yousif added: "We are also very excited to support the Global Goals for Sustainable Development, and are pleased to pledge that we will contribute by:
1. Adding 50,000 jobs across the countries we operate in as a result of financing new and existing customers operations. We will prefer working with customers that are adding and retaining jobs and offer equal opportunities for men and women.
2. Financing, and donating to, a variety of educational institutions. We will shortly announce our annual targets.
3. Financing, and donating to, children hospitals, cancer hospitals, diabetic hospitals, kidney dialysis units. We will shortly announce our annual targets.
4. Working with customers that are more closely aligned with the above Al Baraka Social Responsibility Priorities and the Global Goals for Sustainable Development".
"We look forward to reporting our annual achievements for the above pledges", Mr. Adnan Ahmed Yousif further noted and referred specifically to Global Goals 1, 3, 5, 8, 9 and 13 that Al Baraka Priorities are linked with.
Al Baraka Banking Group (B.S.C) is licensed as an Islamic wholesale bank by the Central Bank of Bahrain, listed on Bahrain Bourse and Nasdaq Dubai stock exchanges. It is a leading international Islamic banking group providing its unique services in countries with a population totaling around one billion. It is jointly rated BBB+ (long term) / A3 (short term) on the international scale and A+ (bh) (long term) / A2 (bh) (short term) on the national scale with a Stable outlook by Islamic International Rating Agency & Dagong Global Credit Rating Company Limited, and by Standard & Poor's at BB+ (long term) / B (short term) with a Stable outlook. Al Baraka offers retail, corporate, treasury and investment banking services, strictly in accordance with the principles of the Islamic Shari'a. The authorized capital of Al Baraka is US$ 1.5 billion, while total equity is at about US$ 2 billion.
The Group has a wide geographical presence in the form of subsidiary banking units and representative offices in fifteen countries, which in turn provide their services through over 573 branches. Al Baraka currently has a strong presence in Turkey, Jordan, Egypt, Algeria, Tunisia, Sudan, Bahrain, Pakistan, South Africa, Lebanon, Syria, Iraq and Saudi Arabia, including two representative offices in Indonesia and Libya.