The National Bank of Bahrain (NBB) has been recognised as the ‘Best Bank for CSR in Bahrain’ by the Euromoney Awards for Excellence 2023 for the third consecutive year. The Bank’s achievement is the result of its notable community investments over the course of the year which reflects NBB’s long-standing commitment towards the betterment of the community.
NBB has sustained a broad Corporate Social Responsibility (CSR) programme for several years and it remains a key component of the Bank’s Environmental Social Governance (ESG) strategy. NBB’s CSR programme is one of the most comprehensive and multifaceted in the Kingdom and is central to the Bank’s overarching sustainability vision. NBB’s approach to CSR focuses on identifying vital social issues as well as forming strategic partnerships with prominent organisations in the Kingdom, to enhance the Bank’s impact in addressing these concerns and establishing the groundwork for long-term social development.
As part of its Donations and Contributions programme, NBB donates 5% of its annual net profits to various social welfare, healthcare, education, youth, sporting, environmental, and governance programmes. The Bank also contributes to initiatives that promote equal opportunities, preserve culture and boost tourism in the Kingdom. NBB has supported 81organisations throughout this year, among them community and philanthropic institutions, schools, universities, hospitals and health centres, and local sporting events.
Louise Bowman, Editor-in-Chief at Euromoney, commented; ‘Committed to social progress in Bahrain, NBB set the benchmark with its substantial charitable contributions, extensive employee training and strong dedication to education and community initiatives.’
Every year, NBB extensively supports local initiatives and non-profit organisations that enable communities throughout Bahrain, promoting their welfare and prosperity. The Bank is a longstanding contributor to the ‘Smile Initiative’ providing support to children with cancer, and the Bahrain Down-syndrome Society through which it has integrated its members as full-time employees. Furthermore, the Bank annually, through its collaboration with the Ministry of Education, helps equip students with their school supplies and uniforms. Additionally, during the holy month of Ramadhan, NBB works with charitable societies across the Kingdom, that provide food supplies and meals to those in need. This year, NBB supported building the Multiple Sclerosis Hospital and the renovation of both the Friendship Society for the Blind’s nursery and the Tafaol Centre for Special Education. NBB’s CSR contributions further extend to the Bank being the exclusive partner of IronKids and the Ministry of Education’s sporting activities that promote a healthy and active lifestyle amongst children in the Kingdom.
As part of its ongoing efforts to empower youth, NBB supported 8 students from Bahrain Polytechnic in their research and development of a Smart Aquaculture System project to solve the current issues in the fish hatchery process in Bahrain.In partnership withthe Ministry of Youth Affairs, NBB contributes to the Lamea Programme which identifies talented young Bahrainis and equips them with the skills and guidance to become future leaders.
Commenting on the Bank’s achievement, Mr. Farouk Yousif Khalil Al-Moayyed, Chairman of NBB, said; ‘Since inception, NBB has been dedicated to investing in initiatives that enrich the Bahraini society. This award recognises our commitment to a CSR approach that aligns with the Kingdom’s social, economic and environmental efforts. Social responsibility is a core value of the Bank, and we will continue to support initiatives that contribute towards a prosperous future for the country.’
Corporate Social Responsibility (CSR) has been an integral component of NBB’s strategy since its establishment, and the Bank has pledged to continue to work with stakeholders and partners to further enhance its CSR contributions. The Bank also celebrates a culture of volunteerism and encourages its employees to engage with both community-led and Bank initiatives.