(MENAFN- Mid-East.Info)
Riyad Bank recently signed a memorandum of understanding (MoU) with Bab Al-Khair Medical Services Company to establish a non-profit hospital in the Kingdom of Saudi Arabia.
The move, which is part of Riyad Bank's CSR strategy 'Bukra', is aimed at strengthening the role of the private sector and develop non-profit initiatives within the framework of Community Partnership Programs in line with the objectives of the Saudi 'Vision 2030'.
Bait Al-Batterjee Foundation is the charitable arm of Al- Batterjee family which aims to establish several non-profit hospitals in the Kingdom and contribute towards community development. The organization has also introduced several initiatives under the Bab Al-Khair Medical Services Company, whose board of directors is chaired by Engineer Sobhi Batterjee.
The MoU was signed by Eng. Sobhi Batterjee, Chairman of the Board of Directors of Bait Al-Batterjee Foundation and Naif bin Mansoor Shalabi, Regional Manager of the Western Region at Riyad Bank in the presence of official representatives from both sides.
The project, which is located in Makkah, is currently in the construction phase, Eng. Sobhi Batterjee explained. It will be the basic core for the construction of a group of non- profit hospitals in the Kingdom, in coordination with the Ministry of Human Resources and Social Development. More non-profit health and education community initiatives will be introduced across the country in the coming period, Batterjee added.
Riyad Bank supports community initiatives for many institutions and associations which are implemented according to the best local and international standards. Based on its comprehensive CSR strategy 'Bukra', the standards have been set in line with the Saudi Vision 2030 and the United Nations' Sustainable Development Goals.
As a CSR leader, Riyad Bank recently signed an agreement with Madak Education to establish the Academic Laboratory of Riyadh Bank. It also renewed its agreement to support Autism Research Centers at King Faisal Specialist Hospital and Research Center, with a total value exceeding SAR 42 million. Additionally, the bank is an avid supporter of Autism Center of Excellence, which was launched as a joint community initiative by the Ministry of Human Resources and Social Development and the Saudi Central Bank.
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