In 2024, we continued to advance alinma’s sustainability. Guided by the six pillars of our sustainability strategy, we nurtured our natural environment, supported our employees, served our customers and community and strengthened our governance. While alinma pursues sustainability because it is the right thing to do, we are also proud of the external recognition we have received in awards and improved ESG ratings.
At the executive management level, alinma’s Sustainability Committee guides the practical implementation of alinma’s sustainability strategy, ensuring a unified and effective approach to positive social and environmental impact.
For alinma, our corporate responsibility to people and the planet is non-negotiable. Our uncompromising ethics, high standards of governance, and how we weave sustainability into every facet of our business and operations inspire a culture of positive social and environmental impact within alinma, within the banking sector and across the Kingdom.
Our 2023 Sustainability Strategy helps positions alinma as the leading Shariah-compliant bank, providing excellent financial solutions while benefiting employees, communities and the environment. We integrate strong governance into all operations.
In crafting our Sustainability Strategy, we evaluated both the local Vision 2030 and various international frameworks and standards with a view to being locally and globally relevant. We considered our present position and where we aim to be. The needs and values of our stakeholders are embedded across our six pillars, as well as the goals and KPIs we pursue. Our Sustainability Strategy aligns with and supports our 2025 Bank Strategy, and both adhere to the Saudi Vision 2030, given the powerful role the financial sector plays in enabling achievement of the Vision 2030’s objectives.
Improve ESG integration into financing and investment decision-making
Integrate ESG into commercial and retail product offerings
Have three Saudi cities recognized in the top-ranked 100 cities in the world
Be ranked in the top 10 countries on the Global Competitiveness Index
Increase the private sector’s contribution to 65% of GDP
Align with National Vision commitment on net zero carbon emissions by 2050, and enable a circular carbon economy
Reduce other environmental impacts
Increase non-oil government revenue to 1 trillion
Maximize customer happiness with attentive service
Harness digital transformation to enhance customer experience
Support SMEs
Increase SME contribution to GDP from 20% to 35%
Increase private sector contribution to GDP from 40% to 65%
Develop employees’ careers and capabilities
Create a great work environment
Support social engagement
Ensure prosperity
Increase women’s participation in the workforce from 22% to 30%
Lower rate of unemployment from
11.6% to 7%
Improve financial inclusion and access to financial services, primarily through the CSR strategy and programs
Support local suppliers
Increase household savings from 6% to 10% of total household income
Promote home ownership from
47% to 70%
Encourage good governance practices and integrity
Protect user’s personal data and regulate alinma's data life cycle such as collection, storage, use, processing, retention and disposal
Raise our global ranking in the Logistics Performance Index to 25 and ensure the Kingdom is a regional leader
To determine which ESG matters are most material to our stakeholders, alinma conducted a comprehensive materiality assessment that considered all of the local and international frameworks mentioned above. We review our material matters annually to ensure that they remain relevant to alinma. Our material matters are shown below, along with the shifts from prior years.
Empower our customers
Build a thriving workplace
Drive robust governance and responsible operations
Empower our customers
Drive robust governance and responsible operations
Drive robust governance and responsible operations
Foster environmental stewardship and enable a circular carbon economy
Build a thriving workplace
Build a thriving workplace
Strengthen our communities and contribute to greater financial inclusion
Empower our customers
Accelerate sustainable finance
Foster environmental stewardship and enable a circular carbon economy
Strengthen our communities and contribute to greater financial inclusion
Strengthen our communities and contribute to greater financial inclusion
Build a thriving workplace
