Al Baraka on a roll

Manama : Al Baraka Banking Group B.S.C yesterday launched its Sustainability and Social Responsibility Report 2016 announcing that it has exceeded its 2016 SDG targets for job creation, education and healthcare on a global basis. 

The report, which includes countrywide global overview of achievements, and a global overview of all social responsibility programmes also includes impact assessment of various Al Baraka social responsibility programmes and the first–year assessment of the Al Baraka SDG Goals (2016- 2020). 

Al Baraka SDG Goals (2016-2020), announced last year, focus on (Job Creation, Education, and Healthcare), and are linked with seven (7) of the Sustainable Development Goals 2030.  

As per the goals, the bank would create over 51,000 jobs, finance and support over $434 million in healthcare projects and over $191 million for educational projects. 

According to the report released yesterday, the bank, during the year 2016, helped create 14,535 jobs, which was 142pc of its 2016 target of 10,207 jobs.  This was also 28pc of Al Baraka’s 5-year target.

As for education funding and financing, the bank said it exceeded its 2016 target of $38,173,398 by 108pc or $41,596,059. This was 21pc of its 5 years’ target.

Regarding healthcare funding/financing, the bank said in the report that it helped achieve $96,826,507, which was 111pc of its 2016 target of $86,700,977.  This was 22% of its 5 years’ target.

Commenting, Adnan Ahmed Yousif, President and Chief Executive of Al Baraka Banking Group B.S.C. said: “Achieving the Global Goals requires financing at different levels and, therefore, the banking and financial services sector has a key role to play.  The investment opportunity to finance the Global Goals is unprecedented and we should all work together to bridge the SDG financing gap.”