Corporate social responsibility at Commercial Bank of Qatar and Qatar Islamic Bank

Commercial Bank of Qatar

The commercial bank of Qatar prioritizes at engaging in all required segments of the Qatari Society. This bank is best in sponsoring of events and this is done with a focus on championing human endeavor across sports, education, culture and arts that are of great use to the community. The commercial bank of Qatar aims at contributing significantly to the Qatar’s social infrastructure and they do  this through offering of funds and all the services that are required in helping their employees who are in problems and generally everyone who is in need. It was noted in 2012 that the commercial bank of Qatar supported notable charities that were inclusive of the Qatar’s society for rehabilitation of all the people who had special needs and required special care and high attention that was offered by the bank (Khan & Kakabadse, 2014). The commercial bank of Qatar also offered support to the Qatar National Cancer Society, where it was able to give financial support that was required by the cancer victims who could not pay for their treatment due to the huge money required by the hospital. The commercial bank of Qatar offered some social responsibility through supporting the Qatar Foundation for the care of Orphans, where it gave financial support for the orphans who were under the foundation. The orphans had no family as they had lost their parents and no one could take care of them and through the foundation they were able to receive financial support from the commercial bank of Qatar that they used in paying off their school fees and other needs. Commercial bank played a social responsibility through supporting the Qatar foundation for the elderly people who had become aged and highly needed one to help them at such a time. Fortunately, the bank of Qatar was able to give them the support that was of high use of them during their elderly times. The commercial bank of Qatar gave support to the Al Sadd Sports Club Legacy Program greater support as they could do their work as required.

In terms of sports, commercial bank of Qatar has shown high commitments in supporting the grassroots sport that is played by young people who need a sponsor to keep the cub growing and becoming stronger. The commercial bank of Qatar is as well dedicated to enhancing Qatar’s international reputation as a center of supporting excellence thus guaranteeing more performance in the region.

The commercial bank of Qatar has partnered with the Katara Cultural Village and they do this to ensure that they reinforce in helping the environment to become for conducive and attractive. Apart from making the environment conducive, the commercial bank of Qatar is determined in helping the cultural environment to flourish all the required and clear activities as this while an assurance of making the country a cultural hub that is liked by many people (Avina, 2013). The commercial bank of Qatar has services that support everyone in the public sector and all companies that are present in the country for even outside the country where people are doing recognized business. Commercial bank of Qatar highly supports sports that take place within the country, thus motivating its sports people to market the country more through their reputable success. This is evident through the Grand Prix of Qatar as they have been supported by the commercial bank of Qatar.

The commercial bank of Qatar has a wholesale banking division that provides arrange of conventional services in the banking sector that are classified to be in terms of investment or commercial. The bank offers corporate lending to its customers who come to borrow money to carry out their activities that might include investment ideas. They as well guarantee deposits, security for their customers, letters of credit and syndicated loans to their customers who bank with them. A conventional banking services and products that are required by the retail customers are as provided by the commercial bank of Qatar as a corporate social responsibility act.in the retail banking division, the commercial bank of Qatar provides a wealth management program to its retail customers on matters to do with mortgage lending credit card and loans that they take from the bank to ensure that they don’t mishandle opportunities or even say all that is not required of them by them as it may lead to their down fall. The commercial bank of Qatar offers a unique market proposition and they as well generate better value for all their customers to ensure that they are satisfied and they continue banking with the bank even in future. The bank uses its strong capital base in investing in the income streams and in expanding their functionality to other parts of the world. The commercial bank of Qatar supports the whole community of Qatar and its social infrastructure and this is done through then use of CSR. The corporate social responsibility that is advocated for use by the commercial bank of Qatar gives it better chances of building up the country’s social infrastructure and making it stronger in supporting events. Commercial bank of Qatar reign forces the flourishing environment of Qatar and this is what makes it to be termed as a strategic bank, which is committed bank that pays keen interest in enhancing Qatar’s international sporting reputation (Kamla & Rammal, 2013). The commercial bank supports all these activities with the aim of making the country a regional art and a cultural club that gives good returns to all in the country at large. The bank offers a good market proposition that leads to offering and the generation of a better value for its customers, clients and all shareholders. The commercial bank of Qatar gives vehicle loans to their customers who are willing to buy vehicles and pay off the loan later with a small interest that is charged by the bank. The commercial bank of Qatar plays corporate social responsibility through the lending of finances to its customers who are in need of money at the very moment. This is the reason as to why it was ranked to be the first bank in Qatar that appeared to have transacted the global Depository Receipts and bonds that were all recorded in the London stock exchange. Commercial bank of Qatar is also dedicated in supporting Qatar’s community and social infrastructure through the corporate social responsibility that has enhanced many of the activities to take place for the benefit of then bank as a whole (Katsioloudes & Brodtkorb, 2007). The bank has been finding huge infrastructure of the country, which are used for the services of the whole community and this is for the sake of helping the whole community and attaining its vision 2030.

Qatar Islamic Bank (QIB)

The Qatar Islamic Bank takes charge of the corporate social responsibility by ensuring that they build effective communication with all sectors of the society as they help in making good sense of activities that require support from the bank these activities in the community as well not only require support but they are geared towards achieving community partnership that is of great use to them accordingly. The Qatar Islamic Bank corporates positively to many activities that are of great use to the community by ensuring that they sponsor the core activities that are required accordingly. The bank gives its sponsorship to many of its activities in the region that are inclusive of education to school going students who do not have enough school fees to sponsor their studies and to health program once they run out of funds and facilities that include medicine for the sick. The Qatar Islamic Bank give support to people with special needs as they really need attention and support from their colleagues who in most instances don’t do that. Qatar Islamic Bank is best in supporting charitable activities to the whole of Qatar. The Qatar Islamic Bank plays an active role through the social responsibility network thus ensuring QIB’s Zakat Committee whereby, it ensures to build firm, corporation ties with Qatar University as well as enhancing mutual cooperation for the benefit of the whole society.  QIB offers many job opportunities to graduates who have not secured jobs after completion of their studies and this high enhances mutual cooperation between the bank and students employed. This strategy of job creation of the bank improves the implementation of Qatarization, and gives the student’s good chances that they can use in showing and making use of their capability in life. QIB participated in the 8th sponsorship and an internship Career forum where it was able to sponsor whom students in all their studies. The banks take charge if the University third year running of events as they deem it necessary to support the student in their attachments that takes place just a year before completion of their university undergraduate program. QIB represents diverse functions that are inclusive of learning and development, workforce and planning of activities that will help student in showing out their talents to the entire world. QIB invest in the country’s employees and ensures that it builds the required leadership with its followers. The bank supports structural programs that lead to the development of high performance to the bank in its activities and endeavors of supporting the CSR activities in the country. QIB has built a high-caliber Qatari branch and this is an act of social responsibility that the bank has managed to carry on and this is done in collaboration with the world class training consultants. The bank has a type of leadership that is designed to prepare the next generation that is now upcoming to be molded to be good leaders who will motivate the corporate social responsibility activities and actions that are required to take place within the country.

QIB carry’s out social responsibility activities through sponsoring of the annual gala dinner where it caters for all the bills of the meeting in terms of financial support; since, this gives good and positive feedback to the community at large (Hend, Hossain & Mahmood, 2012). The sponsoring of the annual gala meeting was in respect to honor some 400 students who were outstanding and needed scholarships for their future studies, the bank offered to give them scholarships and this was a sign of corporate society’s responsibility.

QIB supported the Reyada Awards for Entrepreneurs and this was a sign of social responsibility that was offered by the bank showing that it lays a key role in the societal social responsibility measures. The bank did this as it believed that such an act could help in the promotion of entrepreneurship and in the development of entrepreneurial skills that will later develop the competencies of the country and through the high motivated entrepreneurs.  The banks through its social responsibility it aims at promoting the Renaissance of Qatar as whole and aims at creating  a culture of initiative and creativity by ensuring that ambition and courage is encouraged among all people involved in the business.

The banks support ROTA Mission and goals thus, proving to carry out the social responsibility acts as per the requirement of the bank’s law. Qatar Islamic Bank does this kind of support by supporting fundraising events of the bank that encourage skill to be developed through the use of sports as an educational tool that will make many people understand all that is required of them by the society.

QIB has played corporate social responsibility when it donated a half million of Qatari Riyals to go and help the Somalis and the Philistines who were in the Great War within themselves and peace was a very big issue to them. At such a time, QIB offer to make donation to offer support to these two countries that really needed peace in their leadership reign. This made QIB to be recognized in its CSR work of high dedication and devotion of helping them who needed their help. This proved the humanitarian work that is done by the QIB and all the charitable works that it offers to its people.

QIB gave an immediate response to the blood donation campaign that proved to be an act of social responsibility that the bank offered to the society. The blood donation campaign that is encouraged by QIB has been liked by many people and proved QIB to be an authentic partner and a strong supporter of community activities (Kamla & Rammal, 2013). This is because QIB has found the meaning of understanding the importance of blood donation camping as it saves many lives that are at risk of being lost at the moment. Blood is all that is needed for a human to be alive and QIB has been carrying out the blood donation campaign with the aim of accumulating pure blood ad taking its various hospitals to help in saving of lives to many people who have lost high blood from their bodies.

On another function, QIB was able to host Hamza preparatory Schools for boys who needed to be educated and did not have any support to do so. Therefore, QIB offered to support these students as this was a responsible act that the bank could have used in establishing its regulations that it uses in its operations with various customers. Through the QIB Zakat committee was able to offer 25 million Riyals in donations and they were to be used for social responsibility activities.

References

Avina, J. (2013). The evolution of corporate social responsibility (CSR) in the arab spring. The Middle East Journal, 67(1), 77-92. Retrieved from http://search.proquest.com/docview/1289014832?accountid=45049

Hend, A. A., Hossain, M., & Mahmood, A. M. (2012). Corporate social responsibility reporting in qatar: A descriptive analysis. Social Responsibility Journal, 8(4), 511-526

Kamla, R., & Rammal, H. G. (2013). Social reporting by islamic banks: Does social justice matter? Accounting, Auditing & Accountability Journal, 26(6), 911-945

Kamla, R., & Rammal, H. G. (2013). Social reporting by islamic banks: Does social justice matter? Accounting, Auditing & Accountability Journal, 26(6), 911-945

Katsioloudes, M. I., & Brodtkorb, T. (2007). Corporate social responsibility: An exploratory study in the united arab emirates. S.A.M.Advanced Management Journal, 72(4), 9-20,2. Retrieved from http://search.proquest.com/docview/231262458?accountid=45049

Khan, N., & Kakabadse, N. K. (2014). CSR: The co-evolution of grocery multiples in the UK (2005-2010). Social Responsibility Journal, 10(1), 137-160