In the name of Allah the Merciful the Compassionate
(The likeness of those who expend their wealth in the way of God is as the likeness of a grain of corn that sprouts seven ears, in every ear a hundred grains. So God multiplies unto whom He will; God is All-embracing, All-knowing.)
Surat Al-Baqarah, Verse 261.
IX. Social Responsibility Policy:
In the past years, Al-Tijaria’s interest in social responsibility has grown to become one of the basic standards of performance. The company believes that social responsibility is no longer a matter of volunteering to contribute to the society. It has become an essential part of developing the Company on the long term, through a wide range of activities: charitable, cultural, scientific, health, environmental and social. It is based on the commitment of the Company to follow the teachings of Islamic Sharia which advocates adopting the highest standards of social cohesion.
1. Definition of social responsibility:
Social responsibility is the company's duty towards the community beyond producing profitable goods and services, and includes the development of a self-regulatory mechanism through which to monitor and ensure compliance with laws and ethical standards. This does not necessarily mean caring only for the interests of shareholders and stakeholders, but rather also contributing to the sustainable development of society, and the environment in which the company operates in general. It is an attempt to find an integrated system in which justice and law prevail, which will have a positive impact on society in order to find and support sustainable social, economic and cultural programs, derived from societal needs and priorities. This concept is based on investing in human resources, creating jobs and providing safe and healthy work conditions, alongside solving social and environmental problems, and promoting sustainable development.
2. Social responsibility standards:
Al-Tijaria’s success in its social responsibility role depends on focusing sufficient attention on societal and environmental issues, taking into account the three pillars of: sustainable development, economic growth, social progress and environmental protection, through the company’s commitment to the following four criteria:
- Respect and responsibility, in the sense that the company respects the internal environment (workers), and the external environment (community members).
- Community advocacy and support.
- Protecting the environment through the initiative to provide whatever is needed to serve the environment; improve the environmental conditions in the community and address environmental problems of various types (such as health and education) in-line with the projects and activities carried out by the company.
- Improving the living, social and economic conditions of the labor force and society as a whole and optimizing the available resources.
3. Principles of Social Responsibility:
Al-Tijaria is committed to the policy of social responsibility guided by the following principles:
- Sharing responsibility: where the social responsibility is shared by all the staff and not just management.
- Openness and accountability: the company regularly explains its social responsibility policies, objectives and performance to its employees.
- Continuous Improvement: In line with this approach, Al Tijaria is committed to measuring CSR and improving its performance through ongoing monitoring of existing projects, as well as the introduction and implementation of new initiatives.
- Commitment: We are committed to all relevant legislation, and where there may be lack of relevant legislation, we look forward to developing and implementing company standards based on best practice.
- Environment: We look forward to developing our business environment in a sustainable way and to the environment in all our activities.
- Employees: Highly qualified and motivated employees are a necessary factor to achieve the company's ambitions. The business provides an inspiring work environment where employees can grow and progress in their careers. In addition to promoting and maintaining equality and continuously caring for the benefit of its employees, including planning and structuring training and career development, at all levels, the company encourages and promotes teamwork, exchange of skills and knowledge, honoring outstanding individual contributions and improving the living conditions of employees and their families.
- Security & Safety: The company offers the highest standards of security and safety through the application of laws and procedures, in addition to the taking out the relevant insurance to maintain a safe and healthy environment for all its employees and customers.
The sponsorship of charitable activities is primarily aimed at supporting core business values and the company’s commitment to the community in which it operates. The company strives to support the social, humanitarian and charitable causes through our participation in non-profit projects aimed at developing society, achieving justice and equality. The main objectives of Al-Tijaria are:
- To provide the necessary and suitable training for university students, assisting them to enter the work arena.
- To work to support and encourage employment of nationals and raise its efficiency and competitiveness.
- To provide many material and assistance-in-kind to charity organizations and societies.
- To provide an environment suitable for work, so that factors that affect the health and safety of the company's employees are identified and appropriate preventative measures are taken, moreover that justice, equality and equal opportunities are achieved.
- To implement the social responsibility protocol that fights child labor and exploitation, works to guarantee the right to education, as well fighting against coercive and discriminatory labor in all its forms.
- To work continuously to ensure that the company and its subsidiaries are environmentally-friendly companies.
- To contribute to supporting and improving health and educational services in the community.
- To work on sponsoring and supporting researchers and research aimed at the development of society.
5. The responsibility:
- The Board of Directors is responsible for adopting the Corporate Social Responsibility Policies and Plan in-line with the Company's overall strategy.
- A specific budget is approved by the Board of Directors to implement the Corporate Social Responsibility Plan in line with the Company's strategy.
- The Board of Directors provides resources for the implementation of the Annual Social Responsibility Plan.
- The Board of Directors Authorizes whomsoever is deemed appropriate from the executive management to follow up the implementation of social responsibility policies and plans.
- The responsibility for monitoring compliance as well as the monitoring of the effective implementation of the Company's Corporate Social Responsibility (CSR) plan, is the responsibility of the Head of Risk Management and Compliance Unit and the Company's Internal Auditor, as part of the ongoing audit program.
6. Annual Plan:
- The Public Relations and / or Marketing Department is directly responsible for proposing the annual social responsibility plans and submitting them to the Chairman to allow him to express his opinion and any amendments before submitting them to the Governance Committee for initial, and final approval by the Company's Board of Directors.
- The annual plan should include the areas to be contributed to and the timetable, as well as the resources required to implement the required contributions.
- The Department of Public Relations or Marketing is committed to the implementation of all items mentioned in the approved plan in accordance with the schedule prepared for this purpose.
- A monthly report on the allocations and contributions made during the said period shall be submitted to the Chief Executive Officer and Head of Risk Management and Compliance Unit, including any deviations from the initial plan and reasons for disagreement.
- An annual report of the Business Governance Committee shall be submitted during the period and any deviations from the plan or budget and the reasons for such deviations.
- The Corporate Governance Committee reports annually to the Board of Directors on the Company's achievements in the field of corporate Social Responsibility.
- The Board of Directors shall submit an annual report to the General Assembly of the Company on the company's achievements in the field of social responsibility.