Abu Dhabi Islamic Bank has released its second annual report on environmental, social and corporate governance. The report highlights the bank’s progress towards its goals in these areas in 2022. It outlines a new three-year strategy focused on integrating environmental, social and institutional risks into the bank’s framework and supporting the UAE’s transition to a more sustainable economy.
The report provides a detailed analysis of the bank’s achievements over the past year, including its investment of 23 million dirhams in community development initiatives and contributing one billion dirhams to finance small and medium-sized companies.
Approximately 60% of the bank’s financing portfolio was rated as low or medium risk according to environmental, social and institutional governance standards, ensuring a stable financial situation. The bank also recorded a nationalization rate of 45% and a 39.4% female workforce.
Abu Dhabi Islamic Bank continued to focus on the youth segment, launching “My Money,” a digital Islamic bank targeting customers between 8 and 18 years old. The bank opened approximately 13.5 thousand new accounts for youth in 2022.
Nasser Al-Awadi, Group CEO of Abu Dhabi Islamic Bank, emphasized the bank’s commitment to the principles of Islamic finance and sustainability, promoting responsible and ethical financial practices, transparency, accountability, and risk management. The report demonstrates the bank’s dedication to enhancing its social and environmental impact over the next three years.
Abu Dhabi (Al Ittihad)
Abu Dhabi Islamic Bank has unveiled the second edition of its annual report on environmental, social and corporate governance, in which it highlights the progress made towards the bank’s goals in the field of environmental, social and corporate governance in the year 2022.
The report outlines the pillars of the new strategy for the next three years related to environmental, social and institutional governance, which aims to integrate the tasks of environmental, social and institutional risks into the framework of the bank’s work, and to support the UAE’s efforts to achieve a transition towards a more sustainable economy. The second edition of the report provides a comprehensive analysis of what has been achieved against environmental, social and institutional standards, and of the significant improvements made over the past year.
Abu Dhabi Islamic Bank invested 23 million dirhams in community development initiatives, and contributed one billion dirhams to finance small and medium-sized companies in 2022. Approximately 60% of the bank’s financing portfolio was considered to be of low or medium risk rating according to environmental, social and institutional governance standards, which Maintain a stable and secure financial situation.
The bank recorded a nationalization rate of 45%, and the female workforce constitutes 39.4% of the total bank employees.
Abu Dhabi Islamic Bank continued to focus on the youth segment through “My Money”, the first digital Islamic bank targeting the segment of customers between the ages of 8 and 18 years, which was very welcomed by the opening of approximately 13.5 thousand new accounts for youth in the year 2022.Nasser Al-Awadi said, Group Chief Executive Officer of Abu Dhabi Islamic Bank: Our commitment to the principles of Islamic finance is consistent with the core values of sustainability, and reflects our drive towards promoting responsible and ethical financial practices, transparency, accountability and risk management.
By publishing the second edition of the Environmental, Social and Corporate Governance Report, we are highlighting the elements of our strategy in this field for the next three years, which are integrated with the Bank’s framework and support the country’s efforts in moving towards a more sustainable economy. This report also reflects our commitment to enhancing our effective social and environmental impact.”
In conclusion, Abu Dhabi Islamic Bank’s commitment to sustainability and responsible financial practices is evident in the achievements highlighted in its second edition of the Environmental, Social and Corporate Governance Report. The bank’s focus on integrating environmental and social risks into its framework, supporting community development initiatives, financing small and medium-sized companies, and promoting digital banking for the youth segment demonstrates its dedication to creating a more sustainable and inclusive economy. Abu Dhabi Islamic Bank’s efforts serve as a shining example for the banking industry and a beacon for a brighter, more sustainable future.