BAB, UNDP to boost sustainable finance

Manama : Bahrain Association of Banks “BAB” and the United Nations Development Programme in Bahrain “UNDP” has signed a Memorandum of Understanding (MoU) to promote Sustainable Development Goals (SDGs) and the 2030 Agenda for Sustainable Development and other related issues of mutual interest.  

Dr Waheed Al Qassim, CEO of BAB, and Amin El Sharkawi United Nations Resident Coordinator, UNDP Resident Representative in Bahrain signed the MoU at Al Baraka headquarters, on the 18th of April in the presence of Chairman of BAB & CEO of Al Baraka Banking Group Adnan Ahmed Yousif. 

The move allows BAB and UNDP to organize activities and events to incorporate SDGs in the work of banks and support the proposition of policies to the Central Bank. In addition, promote and implement other initiatives that may emerge, mutually agreed by the parties.

Adnan Yousif Chairman of BAB stressed the keenness of Bahraini financial Institutions to move forward towards funding project that prioritizes sustainable development including SMEs and expanding loan portfolio that includes NGOs loans as well as microenterprises. 

“BAB aims to unify initiatives related to SDGs implemented by Bahraini banks and to stimulate other financial institutions to adopt SDG thus to make the financial and banking sector as a model in this field,” Dr Waheed Al Qassim CEO of BAB said.