Bahrain Islamic Bank BSC: BisB presents three-year roadmap for sustainability
In line with its strategy of integrating environmental, social and governance (ESG) considerations across all business fronts, Bahrain Islamic Bank (BisB) recently partnered with Sustainability Excellence, the leading provider of sustainability research and advice. in the Middle East specializing in sustainability reports and ESG assessment services, to support the implementation of the Bank’s ESG initiatives and plans.
Following the successful formulation of a three-year sustainable development roadmap, the Bank ultimately aims to position itself as a key player focused on impact by 2023, while benefiting from recognized ESG leadership. and strengthening its dominant position in the market as a lender of choice. in sectors with a strong impact on sustainable development. The strategy has implemented clearly defined key performance indicators (KPIs) assigned to the pivotal departments for each year of the strategic roadmap. By the first quarter of 2022, the Bank plans to integrate sustainability at the heart of its activities; establish an integrated management model, designate the necessary steering committees and formulate a corporate governance model.
In addition to the aforementioned ESG Core Principles, the Bank will also continue to raise awareness of sustainable development practices and update necessary internal policies accordingly, and identify early areas of opportunity to further strengthen ESG actions, such as exploration of environmentally friendly solutions and policies. reduce the carbon footprint of the Bank’s operations, as well as develop a policy to underline the Bank’s commitment to promoting employee diversity and becoming an equal opportunity employer.
To ensure the achievement of the strategic vision of the roadmap, the strategy has been structured into clearly defined areas of intervention and tactical pillars. The first pillar, responsible banking, focuses on achieving sustainability-driven growth within the BisB by helping to steer markets towards sustainable finance, improving ESG criteria in financing activities and improving financial inclusion processes and policies. The remaining pillars address various stakeholder priorities, namely, improving the customer experience in a sustainable way, nurturing the internal workforce, investing in the community, preserving natural resources and finally, establishing mechanisms for ESG governance and implementing ethical financial behavior.
Commenting on the occasion, BisB Chief Executive Officer Hassan Jarrar said: âThe decision to develop a roadmap for sustainability at the executive level resonates strongly with our continued commitment to drive digitization in the financial sector, launching innovative banking solutions to make traditional banking less complicated and more intuitive.With our CSR platform Jood, which was launched following the Bank’s philosophy on social innovation, we have constantly invested in the local community , leveraging all of BisB’s resources and capabilities to help develop a future with a ready workforce and ensuring that future generations are ready to lead, while seeking to create lasting change and to leave a positive imprint on society. This will continue to be a key focus area going forward. ”
âOne of the key pillars of this new sustainable development roadmap, improving the customer experience, has always remained at the heart of our priorities at BisB, underlined by our promise to simplify matters of money. by providing innovative, Shariah-compliant solutions that harness the power of We plan to continue to use the ultimate level of transparency when it comes to our clients, protecting their data and privacy, and striving to achieve the highest standards customer satisfaction and attention, while integrating sustainability-focused products and services into our portfolio of financing solutions going forward. ”
With a Bahrainiization rate of 93.4%, BisB considers its employees to be its most valuable asset, striving to empower its human capital by providing them with a learning and skills development platform to equip a workforce. industrial workmanship ready for the future, while inspiring a spirit of transformation – creating and harnessing a culture of innovation from within. As part of the first step of the Bank’s sustainability roadmap, BisB plans to continue improving its ability to attract and retain female Bahraini talent to leadership positions, train an ESG team and to strengthen internal expertise and capacities in high-impact sectors, by constantly evaluating ESG risks in financing and investment.
Islamic Bank of Bahrain BSC published this content on 24 October 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 24 October 2021 07:13:03 UTC.