Tagged: Environment, Social, Governance
Qatari entrepreneur and philanthropist, Sheikh Ali bin Abdullah al-Thani and International Islamic CEO, Abdulbasit A. al-Shaibei participated in the celebrations held as part of the Charity Art and Photography Auction at the College of North Atlantic in Qatar on May 22. More than 100 selections of art and photography were up for bids. The majority of these pieces have been donated by members of CNA-Q’s art and photography clubs. The proceeds from the auction will go to Qatar Red Crescent. Institutions such as Qatar Red Crescent are committed to serving the local community and others in need. Through various projects they undertake such initiatives.
The Boston College Center for Corporate Citizenship and Ernst & Young LLP have released a report – Value of Sustainability Reporting – that offers insights on the benefits of sustainability reporting, assuring sustainability reports, and the risks of not reporting. In today’s business environment, sustainability reporting is evolving into a core business practice for companies around the world. Companies have reported a variety of motivations, including transparency, competitive advantage, risk management and stakeholder pressure. Moreover, the survey found that more than two-thirds of respondents indicated to employ the Global Reporting Initiative (GRI) framework in the preparation of their reports. Data-related issues were identified as challenges in the reporting process. The Value of Sustainability Reporting is based on the findings of a comprehensive survey of 579 corporate professionals familiar with their companies’ sustainability disclosures.
In the Middle East CSR is largely characterised by a charity mindset, easily regarded as archaic by outsiders. However, the region’s CSR focus on charity is explained by the general perception that CSR is a corporate form of Zakat, one of Islam’s five pillars, which stipulates that Muslims give a certain percentage of their wealth in charity. Saudi companies primarily focus their CSR activities on programmes that have little to do with these companies’ core activities. Some present aid to the handicapped while others support and encourage young Saudi citizens to join the labour force. Some concerns, however, receive little or no attention, such as environmental issues, human rights of guest workers or the equal treatment of women in the workplace. The CSR focus on charity is deeply rooted in religious tradition. Therefore, CSR in the Middle East will develop along its own path.
The Central Bank of Nigeria (CBN) has reviewed the Anti Money Laundering and Combating the Financing of Terrorism (AML/CFT) Regulation to align with international best practise as well as other anti laundering and terrorism acts of the country. The CBN…
The United Nations Development Programme (UNDP) and the Islamic Trade Finance Corporation (ITFC) of the Islamic Development Bank agreed today to cooperate in the Arab States region on fighting poverty and creating jobs. The first area of joint work is …
The United Nations Development Programme (UNDP) and the Islamic Trade Finance Corporation (ITFC) of the Islamic Development Bank agreed today to cooperate in the Arab States region on fighting poverty and creating jobs. The first area of joint work is …
Chairman of Al-Eslah Society (Islamic Society for Social Reform) Humoud Hamad Al-Roumi said at the 10th meeting of Deewan Al-Khair, an event that is part of Kuwaiti forum for charity work that Kuwait is a pioneer in the field of charity with all its va…
As they shift towards more market-based economies, Arab companies can no longer afford to neglect demands for greater accountability and transparency in the boardroom. Ten years ago companies had their own practices and policies addressing accountability and social responsibility but there were no regulatory precepts and little attention paid to details of transparency or conflict of interest – issues crucial to the running of a modern business. Today 14 of the 17 MENA economies have a corporate code of some description and “hawkamah” (the Arabic word for governance) is becoming more than just a catchphrase. But while some countries are making great strides improving accountability and transparency, in many of the countries that need it most – those experiencing political, social and economic transition with an urgent need for foreign investment and jobs – the process has faltered.
Burj Bank has launched an employee driven CSR initiative called “Giving beyond the Workplace Campaign”. As part of the programme, Burj Bank Employees along with the Senior Management team visited the TCF (The Citizen’s Foundation) Qayyumabad campus. Burj Bank members adopted one class each for the day where they spent their time in storytelling, book reading and educating the students about the importance of Earth Day. Moreover, Mr. Ahmed Khizer Khan, President & CEO of Burj Bank also presented a donation cheque from Burj Bank’s Charity Fund to Asaad Ayub Ahmad, President & CEO of TCF. This marked the beginning of a new relationship between the two organizations.
Mercer in partnership with the Institute for International Research Middle East (IIRME), will be presenting the findings of its latest survey on Corporate Social Responsibility and Sustainability Programs, Policies and Practices in the region at the 10…
