Social responsibility improves values of enterprises, Central Bank Governor says

The Central Bank Governor Riad Salameh stressed that activity in the field of social responsibility is not only beneficial to society but also improves the added value of corporations. Salameh was speaking during the opening of the 5th Annual Corporate Social Responsibility Forum organized at the Phoenicia Hotel by CSR Lebanon under the headline, ‘How Sustainability Enhances Brand Value and Reputation’ which was attended by over 700 participants from various business, banking, social, civil society and university sectors in Lebanon and the Arab World. Salameh confirmed the Central Bank’s commitment to the concept in the past few years and its launching of a number of initiatives, mainly in the domains of education, housing and environment, pointing to the Central Bank’s direct contribution to the establishment of an advanced university in the capital Beirut, besides the issuance of circulars that allocate soft college loans, which to date amounted to nearly 50 thousand. 

For his part, CSR Lebanon’s President, Khaled Kassar, indicated that the assessment of shares of companies in global markets is no longer solely based on its assets and financial outcomes, but also on the reports and outcomes of its regular annual social and environmental data. Likewise, Saad Azhar, Chair of BLOM Bank, said the banking sector’s support to humanitarian, cultural and educational undertakings in the framework of its social responsibility’s core work, enhances the value of the corporate brand and contributes to improving the reputation and to increasing the sales of companies and their access to markets. (As Safir, An Nahar, Al Akhbar, Al Mustaqbal, Al Diyar, October 27, 2015)