The Saudi Investment Bank supports sustainable development with 2 billion Saudi riyals

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07/04/2016

The Saudi Investment Bank proactively provides lending facilities and services to support projects and businesses that contribute to environmentally sustainable development in the Kingdom of Saudi Arabia.

As of March 2016 The Saudi Investment Bank (SAIB) provided lending facilities exceeding SAR1,925.5MM or 2.15% of our loan portfolio to 20 businesses that are committed to environmentally sustainable development. Our goal over the next 3 years is to have at least 10% of our loan portfolio allocated for financing environmentally friendly low carbon activities such as renewable energy, clean transportation, waste management, energy efficient products, and energy efficient building projects.

At SAIB, as an organizational stakeholderof the Global Reporting Initiative (GRI ) Gold Community and a UN Global Compact participant, sustainability resolves around the 5 pillars of our sustainability framework anchored to the Islamic principles of takleef (responsibility), nummow (growth), re’aya (workforce), hifth (environmental protection) and awn (helping others). These pillars guide our long-term planning as well as our day-to-day decision making. Our commitment is to enable customers to achieve goals that are important to them and their communities. The principles behind our sustainability framework ensure we remain keenly focused on this objective.

Under the pillar of hifth, we approved a new environmental policy in 2015 that strives to continuously improve our environmental performance, integrate environmental objectives and best practices into our business operations, and that contribute to the efficient use of resources.

Under our pillar of takleef, our goal is to be recognized by all stakeholders as the most value driven and accountable bank in the Kingdom of Saudi Arabia. Our holistic approach to integrating sustainability across all aspects of our business affirms our achievement and commitment to this goal. The Saudi Investment Bank is acknowledged by our customers and the communities which we serve for championing financial inclusion, financial literacy, and responsible lending and investment. In recognition of our continuous efforts and dedication to our five pillars of sustainability, SAIB earned second place silver in the King Khalid Award for Responsible Competitiveness in 2015, and was one of the top 10 companies on the S&P Hawkamah Pan Arab ESG Index, the first MENA-wide Environment, Social and Governance Index developed in cooperation with Standard & Poor’s with the support of the International Finance Corporation (IFC).

The Saudi Investment Bank supports sustainable development with 2 billion Saudi riyals