Press Releases



Gulf International Bank – Saudi Arabia (GIB Saudi Arabia) recently signed a Memorandum of Understanding with Al Khobar-based Environmental Friends Society (EFS), which promotes efforts to preserve and sustain the environment. The agreement was signed at GIB Saudi Arabia’s premises in Al Khobar and was attended by EFS officials and GIB senior management. 

This agreement marks the beginning of a partnership and is a milestone on GIB Saudi Arabia’s sustainability journey. Working together the two organisations will organise a series of events that support the Saudi Green Initiative and engage the bank’s employees and the society as a whole in becoming more sustainable.

Executive Director of the Environmental Friends Society in the Eastern Province, Hanouf Al-Amer, said: “The memorandum is consistent with the directives of our wise leadership to achieve sustainable environmental development and environmental education for the Saudi Arabian community".

The memorandum was signed on behalf of the Environmental Friends Society by its Chairman, Talal Al-Rasheed, in the presence of the board members and CEO, and on behalf of Gulf International Bank by Mushari AlOtaibi, Group Chief Operating Officer, and other senior bank officials.

The memorandum aims to promote effective environmental cooperation, launch joint initiatives, increase the Kingdom's green areas, combat desertification, reduce sand encroachment, and preserve natural resources, in order to achieve long-term environmental and economic development and improve people's quality of life.

The memorandum is also intended to improve coordination and cooperation between the Environmental Friends Society and Gulf International Bank in order to establish an effective partnership that will leave an imprint on the Kingdom's 2030 vision.

Other areas of cooperation include selecting suitable sites for afforestation during tree-planting seasons, supplying native plant species, and implementing periodic monitoring to achieve the Saudi Green Initiative's targets.

For his part, Mushari AlOtaibi stated that the memorandum is aligned with GIB's national mission to support environmental efforts, particularly initiatives that improve sustainability in our lives in a way that protect our future, and is an important part of GIB's social responsibility towards the communities it operates in.

Gulf International Bank B.S.C. Licensed by the Central Bank of Bahrain as a local Conventional Wholesale Bank and as a Conventional Retail Bank (branch) C.R. 4660