Red Sea Mall’s CSR programs raise community awareness

The results of the partnership between Red Sea Mall and ITA’AM Association in 2017 brought about the collection of 140,800 meals.
Updated 11 September 2018
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Red Sea Mall’s CSR programs raise community awareness

Corporate social responsibility (CSR) is no longer just about charity and volunteerism. It also includes responsibility for the community through the adoption of many development projects and awareness programs that contribute toward sustainability. In accordance with Saudi Vision 2030, supporting programs with social impact, encouraging volunteers and enabling the nonprofit sector to obtain sustainable sources of funding is the cornerstone of the vision to maximize the social impact of this sector.

Red Sea Mall, one of the private sector companies that initiated the implementation of social responsibility programs as business requirements, is actively involved in the sustainable development of the communities in which it operates. Through its events, Red Sea Mall aims to emphasize that social responsibility is not just about engaging in charitable activities or organizing voluntary campaigns, but also about taking up the responsibility toward society. According to this concept, CSR is achieved through engaging relevant stakeholders and working in a transparent and ethical framework.

Many CSR projects, such as “ITA’AM,” are built into Red Sea Mall’s identity. Based on its central location, Red Sea Mall’s partnership with “ITA’AM” has had positive results over the last three years since its inception in 2016. Since then, Red Sea Mall has invested up to SR3 million ($799,920), including the cost of stands and food storage boxes and the cost of printing branding materials.

Executive member of Red Sea Markets Limited, owning company of Red Sea Mall, Aidrous Al-Bar, said the work to promote community awareness is important and is the key reason behind sustainability.  He said: “The development of innovative and effective solutions has been and continues to be one of the priorities of Red Sea Mall management, evident in the various activities and diverse participations in many events held by the mall throughout the year. Red Sea Mall has become the second home for many, and this great turnout makes it necessary to activate social responsibility programs that contribute to charitable work while maximizing the social impact in order to achieve sustainability.”

The results of the partnership between Red Sea Mall and ITA’AM Association in 2017 brought about the collection of 140,800 meals through six stands specifically designed for this initiative. 

The overall weight of meals collected during the year was 49 tons, whereby 17 percent of the food stored in Jeddah was distributed.

 


Emirates NBD opens branch in Alkhobar

Updated 20 September 2018
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Emirates NBD opens branch in Alkhobar

Emirates NBD, a banking group in the Middle East, has expanded its presence in the Kingdom with the opening of its first branch in Alkhobar in the Eastern Province. Emirates NBD now covers three key regions in Saudi Arabia with a presence in Riyadh, Jeddah and Alkhobar. 

As Saudi Arabia progresses plans for economic reform, in line with its Vision 2030, Emirates NBD’s presence builds on the growing economic and trade ties between Saudi Arabia and the UAE. Following the establishment of the Saudi-Emirati Coordination Council, the UAE and Saudi Arabia recently announced The Strategy of Resolve, a joint vision for economic development through 44 joint strategic projects within a five-year time frame. 

UAE-based Emirates NBD is the first non-Saudi bank with a significant branch network across the Kingdom. The bank offers retail, private, business and wholesale banking across its network of three full-fledged branches in the Kingdom, in addition to corporate finance advisory, project and syndicated finance through Emirates NBD Capital KSA, the bank’s investment banking arm.

Emirates NBD also operates in Egypt, India, Singapore, and the UK with representative offices in China and Indonesia. 

“Our presence in Saudi is integral to Emirates NBD’s growth strategy as we continue to explore opportunities in the GCC region’s largest and most dynamic economy,” said Hesham Abdulla Al-Qassim, vice chairman and managing director of Emirates NBD. 

“Saudi Arabia is in the midst of a landmark economic transformation and we look forward to continuing to support Saudi individuals and businesses looking for a trusted banking partner.” 

Emirates NBD recently renewed its partnership with the Kingdom’s Kafalah Program, which aims to promote financing to small and medium enterprises (SMEs) within the country.

Loai Abduljawad, CEO of Emirates NBD KSA, said: “Emirates NBD’s expanded network strengthens our offering to individuals and corporates in Saudi Arabia looking to invest and trade across the MENA region and beyond. Our superior value proposition, built on the bank’s unique ‘high tech + high touch’ philosophy of offering customers a modern banking experience complemented by personalized advisory services, will enable us to strengthen customer acquisition in the Kingdom as we continue to support the country’s long-term growth and development goals, as outlined in Saudi Vision 2030.” 

Emirates NBD is a leading banking group in the region. As of June 30, 2018, its total assets were 477.5 billion dirhams, ($130 billion). The group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 percent of all financial transactions and requests conducted outside of its branches. The bank was declared the “Most Innovative Financial Services Organization of the Year” at the 2017 BAI Global Innovation Awards.