BBK has announced its support to Takween Advanced Industries, headquartered in Saudi Arabia, through a financing facility that will support the working capital requirements of the company, while ensuring its commitment towards environmental, social and governance (ESG) initiatives.
The latter is being implemented to ensure compliance with Saudi Arabia’s regulatory frameworks for environmental, social and transparency-related issues.
BBK Group chief executive Dr Abdulrahman Saif said that the provision of this financing to Takween reaffirms the bank’s commitment towards supporting leading business groups in the region, especially those who are keen to comply with ESG standards, in line with national and global trends.
He noted that promoting ESG development goals is part of the bank’s sustainability strategy, not only within the BBK Group but through all its partners, clients and suppliers alike.
“This financing – conditional to the company’s adherence to ESG standards – paves the way to similar agreements with other leading companies that are keen to commit to environmental, social and transparency issues.
“We are proud to have successfully provided this financing, which strengthens, once again, the responsible role of financial and banking institutions in supporting the move towards a green economy, therefore ensuring the sustainability of resources for current and future generations,” added Dr Saif.
Takween Advanced Industries managing director Jameel Al Molhem noted that this financing from BBK not only contributes to enhancing the efficiency and productivity of the company and supports its expansion plans, but also ensures the sustainability of its growth.
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