Sharjah, 6 November 2010: Sharjah Islamic Bank (SIB) has announced the creation of a 'Corporate Social Responsibility Unit', as a new sub-section of its Public Relations and Media Division, which has been renamed to 'Public Relations and Corporate Social Responsibility Division'.

The establishment of the new unit is in line with SIB's commitment to the ideals of corporate social responsibility (CSR) and its belief in the importance of adopting community service approaches in an organised and practical manner. CSR is one of the most important modern concepts adopted by large businesses, and SIB's CSR Unit will be concerned with everything related to social services, sponsorships and other activities and services that aim to develop the community.

Commenting on the occasion, Mr Hassan Al Balghouni, Head of SIB's Public Relations and Corporate Social Responsibility Division, said, "This move was made at the direction of SIB's Board of Directors, as part of their belief in the importance of social responsibility in developing the community in which the bank operates. The move will help further expand SIB's social and humanitarian activities, which are as important to us as the banking services we provide to clients. This new unit aims to strengthen ties and communication between the bank and its employees, on one hand, and the community in which we operate, on the other. No business activity will succeed without the community and the human element, which is the main nerve of all economic processes".

"SIB's agenda includes a number of CSR activities with goals that require a great deal of planning and organising to achieve. Through the new unit we will introduce a number of innovative activities and sponsor events that are in line with our aspirations of offering high-quality banking services and serving the community," he said.

Al Balghouni added that Islamic banking supports the concept of community service through its compliance with Shari'a teachings, which urge the business sector to contribute to the community as a partner. SIB's commitment to this concept is apparent from its support of charitable causes and charity-related activities through proper channels. Such as the Abu Dhabi Zakat Fund and the Red Crescent, in addition to supporting Sharjah Charity Association through its sponsorship of orphans and the 'Dirham Al Khair' project.

He extended his thanks to SIB's executive management and Board of Directors for adopting these great values in the interest of society and the entire nation. "May Allah the Almighty help us to reflect a clear image of the values adopted by Sharjah Islamic Bank as a national bank and a partner in the community", he concluded.

SIB has a good record of CSR efforts, the most prominent of which is the prestigious 'Sharjah Islamic Bank Ramadan Tent' that has gained popularity over the last four years. The Bank's annual UAE National Day celebration has also grown into a national festival entitled "The Sharjah Islamic National Festival" over the last few years. Other SIB initiatives include 'Sharjah Islamic Bank Ramadan Iftar Tent', which offers Iftar to over 1,200 Muslims per day during the holy month of Ramadan; the blood donation drive organised for needy patients; regular visits to patients in cooperation with the bank's employees; sponsoring the Red Crescent Charity Clinic in Sharjah; and supporting Abu Dhabi's Zakat Funds.

Since its successful transition from conventional to Islamic banking in 2002, Sharjah Islamic Bank has offered a variety of Shari'a-compliant products that cater to the needs of individuals, companies, institutions, as well as investment and international banking services. As a result of well considered strategies and careful planning based on risk management and cost control, SIB has seen unprecedented growth. The bank currently has 23 branches located across the UAE, in addition to more than 100 ATM and deposit machines installed in residential districts and other vital areas such as shopping malls and entertainment centres.

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About Sharjah Islamic Bank
Sharjah Islamic Bank, formerly known as National Bank of Sharjah, was founded by an Amiri decree issued by H.H. Dr. Sultan Bin Mohammed Al Qassimi, Member of the Supreme Council, and Ruler of Sharjah, to provide commercial banking services to firms and individuals. Originally a conventional bank, Sharjah Islamic Bank became the first in the world to convert successfully to Islamic banking in 2002. Since then, all operating systems and procedures have been modified to facilitate this conversion and all employees trained in Islamic banking.

For more information, please contact:
Serine Srouji
SAHARA Communications
Tel: +971 4 3298996
Fax: +971 4 3298995
Mob: +971 50 3286188
Email: serin@saharagcc.com
www.saharagcc.com

© Press Release 2010