Bank ABC Group Announces a US$10 Million Fund for COVID-19 Pandemic Relief – Yahoo Finance

Posted on April 20, 2020

– The Fund aims to support national initiatives to help healthcare services and people in communities affected by COVID-19

– Significant allocations towards its countries of presence in MENA including Bahrain

– Bank ABC pledges US$2 million to the “Feena Khair” campaign in Bahrain

MANAMA, Bahrain, April 20, 2020 /PRNewswire/ — Bank ABC, MENA’s leading international bank, today announced the establishment of US$10 million fund to support the fight against the novel coronavirus (COVID-19) pandemic. Responding to its social responsibilities call, the Group including its Bahrain based operations ila Bank, Arab Financial Services and ABC Islamic Bank, launched the fund to collectively contribute US$10 million to national initiatives across its MENA network to ease the impact of COVID-19. This takes into account significant allocations towards national initiatives in the Kingdom of Bahrain, home to its Head Office for 40 years.

The Fund will be allowed to meet substantial donations towards national and charitable initiatives designated to contain the spread of the virus, lessen the financial burden on those most impacted and support frontline medical workers and volunteers risking their lives to safeguard their communities.

Commenting on the fund’s establishment Bank ABC Group CEO, Dr. Khaled Kawan said, “These challenging times require all of us to join forces to support healthcare institutions and communities in our core markets of presence. It is our duty and a privilege as a responsible corporate citizen to pledge our unwavering commitment towards our communities, government bodies, healthcare professionals and volunteers who are doing a phenomenal job.”

Bank ABC Deputy Group Chief Executive Officer, Mr. Sael Al Waary, “Whilst we commend the remarkable measures taken so far by the authorities and the frontline workforce and pray for the recovery of all those who are impacted by the virus, Bank ABC is pleased to announce its contribution of US$2 million towards the Feena Khair campaign. Launched by HRH Shaikh Nasser bin Hamad Hamad Al Khalifa, Representative of HM the King for Humanitarian and Youth Affairs, National Security Advisor and Chairman of the Board of Trustees of the Royal Humanitarian Foundation, this initiative aims to aid the efforts of the National Taskforce for Combating COVID-19 in the Kingdom of Bahrain. We are committed to continue to work hand-in-hand with the relevant authorities and local charities to strengthen our support to the community across the Kingdom.”

Bank ABC is a leading player in the region’s banking industry, with a presence in 15 countries across five continents. It provides innovative global Wholesale Banking coverage & products that include Corporate & Financial Institutions coverage, Transaction Banking (Trade Finance & Cash Management), Project and Structured finance, Syndications, Treasury and Financial Markets products and Islamic Banking. It also provides retail-banking services through its network of retail banks in Jordan, Egypt, Tunisia, Algeria, Brazil, and through ila Bank, its digital mobile-only bank, in Bahrain.

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