Gulf International Bank — Saudi Arabia (GIB Saudi Arabia) has signed two partnership agreements worth a total of SR440,000 ($117,300) with Saudi charities to support their work in the Kingdom.
The first is with the Bunyan Charitable Society to support their efforts in enhancing the quality of residential and developmental programs in the Eastern Province, contributing toward Vision 2030.
The second partnership is with the Children with Disability Association to improve programs and initiatives for disabled children.
GIB Group Chief Executive Officer Abdul Aziz Al-Helaissi said: “The partnership with Bunyan is part of the bank’s sustainable corporate responsibility program WAGIB. As a local bank headquartered in the Eastern Province, we aim to build more sustainable, local, community-based partnerships.”
Al-Helaissi also stressed the importance of the partnership with the Children with Disability Association, saying: “This is an important charity with an established and successful record serving our disabled children and helping to develop programs and activities targeting this cherished group in Saudi society.”
The Bunyan Charitable Society is a nonprofit Saudi charitable association established in 2010. Headquartered in Riyadh, Bunyan is licensed by the Saudi Ministry of Human Resources and Social Development. The Children with Disability Association is a licensed organization that was established in Riyadh in 1977.
GIB Saudi Arabia provides retail, corporate and institutional customers across the Kingdom with a comprehensive offering of banking and financial services covering wholesale banking, asset management, investment banking and retail banking via its retail digital banking arm, Meem.
The bank, which is the first to be headquartered in the Eastern Province, has branches in Dhahran, Riyadh and Jeddah, and was established as a local Saudi bank in April 2019 after having operated in the Kingdom for nearly 20 years as foreign branches of the pan-GCC GIB.
GIB Saudi Arabia is regulated by the Saudi Arabian Monetary Authority and has been established with a paid-up capital of SR7.5 billion. It is owned equally by GIB and the Saudi Public Investment Fund.