Manama - The United Nations Environment Programme (UNEP) Regional Office for West Asia and Bahrain Institute of Banking & Finance (BIBF) signed a Memorandum of Understanding to join efforts in building capacities on green banking, responsible financing, responsible investing, sustainability, circular economy, resource efficiency, and sustainable consumption and production.
The MoU aims at exchanging expertise and knowledge to develop academic programs through the newly established BIBF Sustainable Development Academy such as Principles of Responsible Investment (PRI) and Principles of Responsible Banking (PRB), a program launched in 2019 by the United Nations. It will also engage the financial and banking sectors in sustainability through innovative programs along with organizing webinars, seminars, and joint workshops.
The MoU reflects both institutions' common priorities, mainly UNEP’s role in mainstreaming the global environmental agenda within different sectors. It will work on supporting regional finance sector to catalyze integration of sustainability in finance and banking work and mainstreaming private sector finance for sustainable development.
UNEP Regional Office for West Asia, represented by Regional Director and Representative Mr. Sami Dimassi and the Bahrain Institute of Banking & Finance, represented by director Dr. Ahmed AlShaikh highlighted the importance of signing this MoU to promote principles of responsible investment and responsible banking in the region and globally.
From his side, Mr. Dimassi added that: “Strengthened cooperation between UNEP and BIBF comes timely to promote actions within the region efforts in building back better”. This collaboration aims to promote and integrate the concepts of sustainability and circularity within the banking and finance sectors to drive better responsible investments not only in Bahrain but also in the GCC, West Asia region and even beyond.”.
Dr. AlShaikh said: “This MoU comes as part of the BIBF’s commitment towards sustainable development, which forms an integral part of our Banking Centre’s training programmes. As part of our objectives, the BIBF stresses the importance of providing the workforce with training opportunities on sustainable development, in addition to encouraging corporate organizations to follow sustainable goals. We are proud to be part of UNEP’s continuous efforts in expanding its collaborations with national, international, and regional institutes to achieve prosperity and resilience through sustainability in the West Asian region.”
© Press Release 2021