UGB strongly believes in its responsibility to support the well-being of communities in which it operates.

The Board of Directors of UGB recognize that in recent years, financial markets have taken measures aimed at improving environment, social and governance (ESG) practices.  This is based on evidence that institutions which implement sustainable practices are widely respected and outperform the market across key sectors.  During 2023, the Bank continued to support the Bahrain Authority for Culture and Antiquities (BACA), and the national campaign for afforestation initiated by the Bahrain Association of Banks.

As has been the practice in previous years, the Bank also continued to emphasis education and career development for young Bahrainis; development of the regional banking sector; and charitable and community-based activities.

EDUCATION AND CAREER DEVELOPMENT FOR YOUNG BAHRAINIS

UGB supports the philosophy that education is the best source of empowerment. The Bank provides education and career development opportunities for young Bahraini students through the following activities:

University of Bahrain Student Internships

UGB was a founding member of this programme.  Over the years, the Bank provided selected students with work experience and the opportunity of placement.

TradeQuest – The Trading Challenge

TradeQuest is a business-education partnership that was established 25 years ago. Conducted under the aegis of the Bahrain Bourse, it provides school and university students with an opportunity to participate in a simulated trading competition by investing in shares listed on the New York Stock Exchange, NASDAQ, and the Bahrain Bourse. UGB has ardently supported this competition for the past 21years by sponsoring and mentoring one of the participating schools or universities.

Mashare’a Al Khair Scholarship Program

This program assists qualified UGB employees’ dependents to study at accredited colleges, universities or other recognised academic institutions. The Bank also extends educational support to its staff to constantly enhance their academic and professional qualifications and fulfil their continuous professional development (CPD) commitments.

DEVELOPMENT OF THE REGIONAL BANKING SECTOR

UGB contributes to the growth and development of the regional banking and financial services sector in a number of different ways:
The Bank supports a wide range of banking-related organisations including the Bahrain Association of Banks, Union of Arab Banks, Bahrain Institute of Banking and Finance (BIBF), and International Islamic Financial Market of Bahrain.
UGB management and staff are members of professional institutions and associations.

Commitment to Social Responsibility and governance

Over the years, UGB has provided financial assistance for numerous charitable, cultural, social, medical, educational, and child welfare organisations that work with orphans, needy families, and the underprivileged sections of society.
The donations made during 2023 were as follows: