Bahrain’s banks are ‘pivotal’ in building a robust business model

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Bahrain’s banks are playing a central role in driving an industry-wide sustainability agenda, said Abdulaziz Al-Helaissi, group CEO and board member of Gulf International Bank.

In an extensive interview he recently gave to Oxford Business Group’s online broadcast channel, Global Platform, Al-Helaissi highlighted the growing popularity of green bond issuances, saying they were helping to redefine the landscape. of the financial sector, in a context of growing demand. for financial instruments that give weight to environmental, social and governance (ESG) factors.

“The increased momentum of sustainable and green finance products, services and investments is influencing the future strategic direction of Bahrain’s banking sector,” he told OBG.

SDG targets

He also highlighted Bahrain’s progress towards achieving the United Nations Sustainable Development Goals as part of its Economic Vision 2030 goals, which he said included promoting sustainable and transparent capital markets.

“Bahrain Stock Exchange released its ESG voluntary reporting guidelines for listed companies in June 2020,” it noted. “He is also committed to the United Nations Sustainable Stock Exchanges Initiative.”

Additionally, Al-Helaissi discussed the role of the Covid-19 pandemic in accelerating the ESG trend. “It served as a wake-up call to the vulnerability and fragility our world is currently facing,” he said in the video.

ESG standards

Marc-André de Blois, director of public relations and video content at OBG, said the interview with Al-Helaissi showed that ongoing efforts in Bahrain’s banking sector to promote ESG standards and encourage sustainable and ethical decision-making at the corporate level were accelerating.

“ESG-compliant assets are gaining prominence in international investment portfolios, as regulators focus more on reporting requirements, due to growing demand at scale,” he said. .

“Our video reaffirms that Bahrain’s financial sector is taking steps to place an effective ESG strategy at the heart of its operations and, in turn, contributes to the kingdom’s plans to make future growth inclusive and sustainable.”– TradeArabia Press Service

Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

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