THIS week marks the launch of Social Business Week 2012, an event organized by the Family Bank, the Middle East's first Islamic microfinance bank, in collaboration with the Grameen Creative Lab. Strategic partners include the Bahrain Economic Development Board, Tamkeen, the Ministry of Social Development, Bahrain Development Bank, the Bahrain Chamber of Commerce and Industry and the University of Bahrain. Commenting on the event, Fatima Al-Balooshi, Minister of Social Development and the Chairman of the Board of Directors of the Family Bank, said: “The Social Business Week 2012 marks an important step towards promoting awareness of social issues, and the development of solutions to help alleviate the difficult economic conditions that many in the region face. As a global leader in Islamic finance, Bahrain represents the ideal location to hold this event, and focus on Islamic microfinance opportunities in the Kingdom and across the region, to support ongoing economic development and diversification.” Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of the Bahrain Economic Development Board (EDB), said: “The EDB is proud to be a strategic partner of Social Business Week 2012. Bahrain has long been the region's financial hub, and it is encouraging to see the sector harness and direct its financial capabilities towards the support and growth of social enterprise. “I applaud the pioneering steps being taken by the Family Bank, which only serve to demonstrate Bahrain's commitment to creating sustainable long-term growth, through a sound and flexible economic and fiscal policy, a highly skilled workforce, and well-run, transparent regulation. These same measures provide the best business environment for companies looking to access the trillion dollar Gulf market.” – SGProfessor Muhammad Yunus, winner of the 2006 Nobel Peace Prize and founder of Grameen Bank and the Yunus Centre, will deliver the event's keynote speech on the new concepts of social business and the shift of interest towards the economic sector to create sophisticated and sustainable development. The event will also feature a series of lectures and specialized workshops which highlight issues surrounding the establishing of social business initiatives.
