Al Salam Bank-Bahrain has donated a total of US$2.016 million to the Royal Charity Organization in support of university scholarships for distinguished students selected by Royal Charity Organization (RCO). 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.