Foulath Holding, an industrial holding company with major steel investments, proudly announces its recent accreditation in Corporate Ethical Procurement and Supply fromthe Chartered Institute of Procurement and Supply (CIPS). This milestone underscores Foulath Holding’s steadfast commitment to upholding the highest standards of ethical practices within its procurement and supply operations. Every procurement professional within Foulath Holding has undergone comprehensive training in ethical procurement and supply management, demonstrating a collective dedication to fostering transparency and integrity across its supply chain.
As ethical procurement emerges at the forefront of supply chain processes, it is important for procurement teams to implement and maintain ethical processes, which details a company’s code of conduct and commitment to environmental, social, and legal issues.
Commenting on the achievement, Mr Jaffar Alshehabi, General Manager of Supply Chain Management at Foulath Holding, said: “We are delighted to celebrate a significant achievement for Foulath Holding and our esteemed Procurement team. Today, we proudly accept the prestigious CIPS Global Corporate Ethical Procurement and Supply Chain certification, a testament to our unwavering dedication to ethical practices in procurement and supply chain management. This certification reaffirms our commitment to integrity, sustainability, and social responsibility in all our operations, positioning us as a leader in ethical procurement practices.”
Established in 2008, Foulath Holding is a Bahrain-based investment company focused on sustainable development in the steel industry across the GCC and MENA region. Operating one of the world’s largest one of the largest fully integrated single-site steel complexes in the world, covering 1.7 million square meters, complete with port and jetty facilities. It oversees more than US$2.4 billion of assets through its subsidiaries – Bahrain Steel and SULB – who contribute significantly to Bahrain’s economy, Foulath is committed to environmental responsibility and social inclusivity, aiming for sustainable steelmaking practices.
“We are delighted to present Foulath Holding with this certification as this demonstrates their understanding of the growing importance of ethical procurement. It is essential for procurement teams to identify the types of ethical issues they may face and develop ethical standards and practices to combat these challenges. This shows Foulath’s commitment to robust ethical practices and affirms their adherence to global procurement benchmarks,” said Sam Achampong, CIPS MENA, Managing Director.
CIPS is the largest global professional body for training and skills development for procurement and supply chain management. The CIPS Ethical Procurement and Supply eLearning and test has been recently updated and renewed to provide quality learning and guidance for organisations concerned about preventing unethical practices in their supply chains. Developed for all levels of procurement professionals, the programme and test enable individuals and organisations to hone their skills and knowledge and ultimately demonstrate their commitment to ethical practice.
Organisations that achieve the ethics mark are included in the CIPS Corporate Ethics Register, which includes organisations from various sectors and organisations around the globe. Sign up your procurement and supply management team to take the test.
