BM_Sustainability_Report - Bank Muscat

BM_Sustainability_Report - Bank Muscat - Responsible...

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Responsible banking. Sustainable future. 2013 SUSTAINABILITY REPORT
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Table of Contents 4 Message from the Chief Executive 6 About this Report 8 About bank muscat 12 Our Quality Policy 14 Management and Governance 18 Enhancing Economic Performance 28 Developing from Within 34 Empowering Communities 42 Recognizing our Environmental Impact 50 Appendix A: Reporting Process and Parameters 54 Appendix B: Standard Disclosures
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Sustainability report 2013 4
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MESSAGE FROM OUR CHIEF EXECUTIVE Diversification of the economy, away from a reliance on oil revenues, has been a focus of Oman since the outset of the oil era in the early seventies. The subsequent development plans adopted by the government, including the current five-year development plan (2011-2015) and Oman 2020 economic blueprint, have all been aimed at sustaining economic growth, developing human capital, creating job opportunities, developing the private sector, and achieving a sustainable social and environment friendly path of development in pursuit of diversifying the sources of national income. In line with Oman’s commitment to achieving sustainable development through economic stability and fiscal balance, underpinned by the objective to diversify the economy, bank muscat is proud to present the 2013 Sustainability Report highlighting the impact of our activities on the economy, environment and society. The report demonstrates that we have become more open to sustainability reporting as a powerful tool in our decision-making as well as corporate policy and strategy. We recognise that sustainable development has the potential for achieving long-term benefits spanning environmental, economic, social and cultural dimensions. In order to become sustainable, we are focused on achieving long-term profitability with social and environmental responsibility. The bank follows international practices to measure and report its sustainability performance. The Global Reporting Initiative (GRI Sustainability Reporting Framework and Guidelines) forms the basis of the evaluation of our sustainability initiatives covering the key areas of economic, environmental, social and governance performance. The integrated theme chosen for this year’s report highlights our values which represent what we stand for: how we conduct ourselves as the trusted banking partner in Oman, and how we engage with our fellow employees, customers, shareholders, business partners and the communities we serve. These values form the very foundation on which bank muscat is built. bank muscat is committed to ‘Doing More’ for the economy, community and environment. The four priority areas chosen by the bank for sustainability reporting are ‘Enhancing Economic Performance; Developing from Within; Empowering Communities; and Recognising our Environmental Impact’. During 2013, the bank defined new key performance indicators (KPIs) covering all our business lines for sustainability reporting.
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