NBB Awarded ‘Best ESG Integration’ in Bahrain in the Arab Federation of Capital Markets Awards Ceremony 2023 in Collaboration with The Global Economics

17th May 2023

The National Bank of Bahrain (NBB) was named as the Bank with the ‘Best ESG Integration’ in Bahrain and received the accolade at the Arab Federation of Capital Markets (AFCM) Awards Ceremony in collaboration with The Global Economics, which took place on 9th May at Rozna restaurant, Muscat, Oman. This was a formal recognition for the Bank’s progress in the field of Environmental, Social and Governance (ESG) at the AFCM’s Awards gala dinner. The awards ceremony formed part of this year’s AFCM Annual Conference which was held at the Al Bustan Palace Hotel in Muscat.

‘Best ESG Integration’ is one of several new award categories which have been inaugurated as a result of the AFCM’s collaboration with The Global Economics, a leading financial website. When it came to determining ESG integration, The Global Economics judges assessed various criteria including; ESG framework and standards within banks, key performance indicators of ESG practices, initiatives undertaken by banks and their demonstrable commitment to sustainability in all its forms. NBB’s success in being named as the bank with the ‘Best ESG Integration’ in the Kingdom is indicative of its commitment to ethical practices and social responsibility.

Reflecting on NBB’s ESG award, Usman Ahmed, Group CEO of NBB, said; “We are delighted to have been named as the best in ESG integration amongst all the publicly listed companies in Bahrain at the AFCM Awards. The accolade demonstrates the National Bank of Bahrain’s commitment to Environmental, Social and Governance matters; NBB has set ambitious sustainability goals and is driving positive change in the financial sector. We will continue our work to reduce our carbon footprint, engage with our communities and promote responsible governance by building on recent ESG successes.”

Shaikh Khalifa bin Ebrahim Al-Khalifa, CEO of Bahrain Bourse and previous chairman of AFCM said, “We at Bahrain Bourse are glad to see the progression of ESG integration across various listed companies at Bahrain Bourse. I would like to congratulate NBB on this remarkable recognition, as we strongly believe that the increased adoption of ESG practices and initiatives enhances transparency in Bahrain’s capital market and is in alignment with Bahrain Economic Vision 2030 and the UN Sustainable Development Goals (SDGs).”

The award was presented by Haitham Al Salmi, CEO of the Muscat Stock Exchange and  Chairman of AFCM, and Shaikh Khalifa bin Ebrahim Al-Khalifa, CEO of Bahrain Bourse and previous chairman of AFCM. The awards gala dinner was attended by representatives of Arab stock exchanges, corporate sponsors, brokerage firms and leading financial institutions who converged to network, discuss the MENA region’s financial situation and exchange knowledge.