The Ministry of Human Resources and Social Development signs a cooperation agreement with the Saudi Exchange (Tadawul) to launch the Social Responsibility Index

As part of the work of the Saudi Financial Market Forum, the Ministry of Human Resources and Social Development signed a cooperation agreement with the Saudi Exchange (Tadawul). The Ministry was represented in the signing by the Undersecretary for Community Development, Mr. Ahmed bin Saleh Al-Majed, while Tadawul Saudi Arabia was represented by its Executive Director, Mr. Mohammed bin Sulaiman Al-Rumaih.

The agreement aims to launch the Social Responsibility Index, which measures the performance of companies in social responsibility, which contributes to creating a competitive advantage that raises the performance of companies listed in the Saudi market. The index was developed with expert bodies in cooperation between the Ministry of Human Resources and Social Development, the Capital Market Authority and the Saudi Exchange, in order to ensure Its standards are consistent with international indicators to measure companies’ performance in this aspect.

The Undersecretary for Community Development said that the Ministry developed the Social Responsibility Index with the aim of raising the level of awareness of companies and motivating them to improve their practices and contribution in the field, which leads to enhancing the brand image of companies that comply with the standards.

Notably, the standards were created to include specifics about how businesses engage with and contribute to community events and concerns. The Ministry of Human Resources and Social Development is working to attain the maximum levels of cooperation with all stakeholders in order to realize the vision's objective of improving businesses' fulfillment of their social duty, and this agreement is another step toward that aim.