Specialist Islamic financial institution, Al Baraka Bank, has joined several traditional banks in South Africa in aligning its Corporate Strategy and Social Investment responsibilities with the 2030 Agenda for Sustainable Development.
This follows the signing of a Memorandum of Understanding between the International Al Baraka Banking Group B.S.C and the global office of the United Nations Development Programme (UNDP); facilitating a partnership designed to accelerate the implementation of the Sustainable Development Goals (SDGs) in the countries in which the financial organisation has a presence.
The move also sees the bank become the first of the 17 international subsidiaries and representative offices within Al Baraka Banking Group B.S.C. to join its parent company in linking its Corporate Social Investment objectives to the UNDP's efforts.
Al Baraka Banking Group, an international leader in Islamic finance, signed a Memorandum of Understanding with the UNDP in July last year, facilitating a partnership designed to accelerate the implementation of the Sustainable Development agenda in the 17 countries in which the financial organisation has a presence.
The 2030 Agenda for Sustainable Development was adopted in September 2015 by world leaders as a means of eradicating poverty, reducing inequality and exclusions, safeguarding the future of the planet and ensuring the world's people might enjoy enjoy peace and prosperity. The UNDP, as the SDGs integrator globally aims to work with countries and partners to accelerate the achievement of SDGs through its policy and advisory services and programmatic interventions that are targeted to ending poverty, improving capacity for basic service deliveries and strengthening resilient people and societies.