Corporate Social Responsibility
UGB plays its role as a responsible corporate citizen by contributing to the social well-being and economic prosperity of the Kingdom of Bahrain. During 2012, the Bank continued to implement its corporate social responsibility (CSR) programme, which places special emphasis on charitable and community-based activities; education and career development opportunities for young Bahrainis; and development of the regional banking sector.
Charitable and Community-Based Activities
Over the years, UGB has provided financial and practical support for numerous charitable, cultural, social, medical, educational, and environmental organisations and initiatives.
Education and Career Development for Young Bahrainis
UGB is a firm believer in promoting education. The Bank’s Scholarship Programme assists qualified UGB employees’ dependants to study at accredited colleges, universities or other recognised academic institutions. The Bank also extends financial support to its staff to upgrade their academic and professional qualifications, and enhance their skills. In addition, UGB provides education and career development opportunities for young Bahraini students through the following activities:
The Crown Prince’s International Scholarship
Program (CPISP): UGB was an annual Silver Sponsor of this major educational initiative since its inception in 2006. The Bank became a Friends Sponsor in 2012; this carries a five-year commitment.
CPISP Mentoring Program: UGB staff help to prepare and assess potential scholarship candidates in leadership skills for final selection.
University of Bahrain / Bahrain Association of Banks Mentoring Programme: UGB is a founding member of this programme, which provides students with summer work experience and the opportunity of placement.
UGB sponsored the winning team in the 2012-2013 TradeQuest Championship. This was the second consecutive year that a UGB-sponsored school was the winner. TradeQuest provides students from Bahraini schools with an opportunity to participate in a simulated trading programme. UGB has supported this competition for the past nine years.
Development of Regional Banking Sector
UGB contributes to the growth and development of the regional banking and financial services sector in a number of different ways:
Bank support for a wide range of banking-related organisations including: Bahrain Association of Banks, Union of Arab Banks, Arab Bankers Association, Financial Markets Association, International Institute of Finance, International Islamic Financial Market of Bahrain, and Arab Bankers Association of North America.
UGB staff membership of professional institutions and associations.
Support for the CFA Bahrain Society in promoting and maintaining the highest standards of professional excellence and integrity in the financial and investment community.
In 2012, UGB co-sponsored the Bahrain Association of Bank’s reception at the IMF/World Bank annual meeting in Tokyo. The Bank was part of the Bahrain delegation of bankers and public sector officials that was led by the Minister of Finance, the Governor of the Central Bank of Bahrain, and the Chief Executive of the Bahrain Economic Development Board.