MANAMA: The Bahrain based leading Islamic banking group, Al Baraka Banking Group B.S.C (ABG) has joined the United Nations Global Compact.
The UN initiative is built on the premise that companies have an important role to play in improving our world – first and foremost by doing business responsibly and then by pursuing the exciting opportunities to provide solutions to our greatest global challenges.
The United Nations Global Compact has become the largest global network of sustainable companies – with 8,800 businesses in 165 countries committed to uphold the United Nations values and principles in how they operate. The initiative’s activities are anchored in Local Networks based in more than 80 countries.
“We are very proud of our deep commitment to social responsibility and sustainability, which are at the core of our business strategy. Not only our social responsibility program is one of the leading examples in the world, our Al Baraka Goals 2016-2020 now seek to support the United Nations Sustainable Development Goals”. He added, “Islamic finance is best positioned to achieve the UN SDGs and therefore it is quite natural for us to join the United Nations Global Compact,” Mr. Adnan Ahmed Yousif, President and Chief Executive of the Al Baraka Banking Group (B.S.C.), said.
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 by Islamic International Rating Agency & Dagong Global Credit Rating Company Limited, and by Standard & Poor’s at BB+ (long term) / B (short term).