Al Salam Bank-Bahrain donates $2m to the Royal Charity Organization

RCO will establish and manage Al Salam University Fund for children of needy families, orphans or handicapped.

The contribution comes within the Bank's social responsibility which focuses on social developmental aspects of the communities the Bank is serving, Yousif Taqi, the Bank's CEO said.
Marking the recent signing of the Cooperation Agreement for the Support of Al Salam University Fund with RCO, Taqi said that the agreement emanates from the Bank's desire to bolster the social partnership with the Organization. The Bank realizes the importance of providing higher-level education to orphans and children from needy families in order to fulfill their aspirations and bring up a competent generation that would dedicate its efforts towards the development and prosperity of the society, he added.

Taqi hailed the noble and remarkable services provided by the Organization to the needy families in the Kingdom which stem from the great care rendered by His Majesty King Hamad bin Isa Al-Khalifa, the Organization's Honorary President and HH Shaikh Nasser bin Hamad Al-Khalifa, RCO's President of the Board of Trustees. Taqi also praised the level of productive cooperation between the Bank and the Organization to support needy children in the Kingdom.

The agreement was signed on behalf of the Bank by the Head of the Internal Shari'a Supervisory Board and Chairman of the Zakah Committee, Shaikh Osamah Mohammed Bahar, in the presence of Mr. Nabeel Al-Tattan, Executive Vice President and Head of the Middle East and North Africa Region, while Shaikh Adnan Abdulla Al-Qattan, RCO's Deputy President of the Board of Trustees signed on behalf of the Organization.

On this occasion, Shaikh Adnan Al-Qattan expressed appreciation to Al-Salam Bank-Bahrain over this major contribution along with the other great social services rendered by the Bank in support of the Organization.

Shaikh Adnan pointed out that RCO has worked to utilize this contribution and has announced scholarships for children from low-income families, orphans or handicapped. This year has witnessed an increase in the number of scholarships to 130 due to this generous contribution from Al Salam Bank-Bahrain, he said.

Shaikh Adnan expressed pleasure to see the private sector playing a vital role in this humanitarian initiative, and urged all other banks and private financial institutions to follow suit by contributing to the development projects which the Organization undertakes for the benefit of the various groups of the society.