Gulf International Bank BSC (GIB) announced the start of its yearlong 40th anniversary celebrations with a charitable donation of an amount in excess of $100,000. It was earlier reported that the donation was $90,000 but the figure was updated after final tallying. The donation will be divided among four charities in Saudi Arabia and Bahrain.

The donation amount consists of 40 percent of its combined treasury net income from the 40th day of the 40th anniversary year. The donation is made from the bank’s treasury activities in Saudi Arabia, Bahrain, the UAE, London and New York.

The benefiting charities are already part of GIB’s CSR program WAGIB, which addresses cancer, disability and education in Saudi Arabia and Bahrain.

GIB CEO Abdulaziz A. Al-Helaissi said: “We are delighted to celebrate GIB’s 40 year anniversary. Our aim is not only to serve our global clients with a diversified range of sustainable investments but also to be actively involved in the communities in which we operate.”

GIB’s Acting Head of Treasury Capital Markets Steve Moulder commented on the donation: “We are thrilled to launch the 40th anniversary celebrations with a donation to worthwhile charitable causes.”

Over the last four decades GIB has worked to develop its fiscal expertise with its core business activities of corporate advisory, asset management, structured and project finance, and GCC capital markets mediation. Multiple industry awards throughout the years bear further testimony to GIB’s strength, experience and consistency.

Today, GIB employs more than 1,000 employees globally across its offices, and provides wholesale, treasury, asset management, investment banking, retail banking and Shariah-compliant banking services.

GIB is owned by the governments of the six GCC countries and the bank's principal shareholder is the Public Investment Fund of Saudi Arabia, with a majority stake of 97.2 percent.