Latest News
- Payscale Alternative Discussed; No New Amendments Made
- Women Demand More Gold Jewelry During Ramadan
- Gulf Countries Struggle With Obesity
- Two Saudis Injured In A Kuwait Traffic Accident
- Kuwaiti Found Dead In Central Prison
- 41-year-old Domestic Worker Commits Suicide
- Kuwait To Deport Violating Visitors
- Ramadan Inspection Campaign Uncovered 10 Violations
- Court Acquits Defendants In US Army Vehicle, Radar And Special B...
- One Dead After Vehicle Plunges Into Sea Along Gulf Street
- Amnesty Call Received Lukewarm Response On Day One
- Monday Afternoon Will Likely Be Rainy With Thunderstorms
Private Sector’s Csr Contribute To Kuwait’s Overall Development
Social responsibility projects (CSR) carried out by the private sector are contributing to the overall development of Kuwait and its governance system. By allocating a percentage of its profits to aid social campaigns, the private sector is not only spreading community awareness, it is also bridging the gap between businesses and the general populace.
For example, the banking sector had contributed around KD 544 million ($1.7 billion) between 1992 and 2017 to social causes, reflecting keenness on providing a helping hand to the people. Speaking to KUNA on the matter, a number of banking associates, company personnel and economic experts stressed the importance of giving back to society.
General Manager of Boubyan Bank Waleed Al-Yaqout said that social responsibility campaigns had become a priority for many private sector entities who acknowledge positive impact of such activities.
Most companies nowadays focus on future social campaigns that would spread awareness and help society to develop as a whole, said Al-Yaqout who added that such campaigns were also good for business because consumers were keen on dealing with social conscious entities.
Boubyan Bank had launched 100 social projects last year and will continue to do so to benefit society, said Al-Yaqout. On her part, Group Communications Director at Kuwait Projects Company (KIPCO) Eman Al-Awadhi said that the company prioritized social-oriented projects knowing it was an integral part of overall development.
Al-Awadhi stressed that social responsibility should be based on total transparency that would ensure fair and reasonable competition amongst private sector entities. KIPCO donates around one percent of its profits to charity, said Al-Awadhi who revealed that the company had contributed around KD 7 million ($23 million) to help in the construction of the Sheikha Salwa Sabah Al-Ahmad Center for Stem Cell and Umbilical Cord. She added that the company also supported youth-initiated projects through the annual Tamkeen Award for Young Entrepreneurs.
Meanwhile, Senior Manager of Sponsorships, CSR and Social Media at Ooredoo telecom company Youssef Al-Shallal affirmed that they were keen on annually partaking social responsibility projects, which considered as part of the company’s national duty. The telecommunication sector is one of the most important components of the national economy and it is natural that Ooreddo is keen and willing to provide all necessary social assistance to aid in Kuwait’s development both economically and socially, said Al-Shallal.
SOURCE : ARABTIMES
Trending News
-
Kuwaiti Banks Announces Ramadan Working Hours
06 March 2024
-
What Is The Future Of Expats In Kuwait ?
10 March 2024
-
Six Countries Have Announced The First Day Of Rama...
10 March 2024
-
India Is On The Verge Of Becoming A Semiconductor...
07 March 2024
-
Seismic Network Dismisses Earthquake Reports In Ku...
05 March 2024
-
Ramadan Crescent Will Not Be Visible In Kuwait
07 March 2024
-
Ramadan Begins From Monday In Kuwait After The Cr...
10 March 2024
-
MOI Relents On Granting Visit Visa To 'certain' Na...
09 March 2024
-
Student Run Over And Dies Instantly
04 March 2024
-
Arrest Warrant Against Expat Father Who Flees Kuwa...
04 March 2024
Comments Post Comment