Faculty of Economics, Business and Management Sciences at El Oued University organizes
National Forum “Responsible Banking and Achieving Sustainable Development Goals”
The Faculty of Economics, Business and Management Sciences and the Laboratory of Political Economy between the Economic and Political Development of Arab and African Countries at the University of Martyr Hamou Lakhdar El Oued organized a national forum on “Responsible Banking and Achieving Sustainable Development Goals: Algerian Banks between Reality and Hope”, which witnessed wide participation from researchers and experts from various Algerian universities, in addition to the presence of an elite group of people interested in the banking sector.
The forum focused on addressing the gap between the reality of responsible banking practices in Algeria and the aspirations to achieve sustainable development goals, and sought to answer pivotal questions about the level of readiness of Algerian banks to keep pace with modern banking trends. Through an intensive discussion, participants reviewed how banks can enhance their role in achieving economic and social development by adopting responsible and sustainable banking practices within multiple axes
1- Responsible banking
2- Sustainable development and its relationship to the banking sector
3- Modern practices and trends in banking
5- The reality and challenges of Algerian banks in light of modern banking trends
At the end of the forum, several recommendations were presented with the aim of enhancing the role of Algerian banks in supporting sustainable development, and encouraging them to adopt responsible banking practices in line with modern global trends:
1- Raising awareness of responsible banking within the banking sector through training programs and introductory workshops targeting all bank employees.
2- Adopting a code of professional ethics that focuses on the principles of responsible banking and clearly defines banks’ obligations towards society and the environment.
3- Encouraging the financing of environmentally friendly projects, especially in the fields of renewable energy, sustainable agriculture, and clean industry.
4- Encouraging technological innovation in banking services to provide effective and flexible services that contribute to achieving sustainable banking, such as using artificial intelligence in analyzing environmental and social risks.
5- Providing government support to banks that apply responsible banking through tax exemptions or financial support, with the aim of encouraging more banks to adopt these practices.
6- Studying successful models of responsible banking in other countries and adopting practices that have proven their effectiveness and applicability in the Algerian context.
7- Establishing a knowledge platform to share local and international experiences in the field of responsible banking, bringing together actors in the public and private sectors.
These recommendations are based on international best practices and take into account the specificity of the Algerian banking sector and the challenges it faces in achieving sustainable development.
It was also agreed on the need to develop cooperation between financial institutions and academic bodies to provide innovative solutions that contribute to improving the level of financial inclusion and social development.
Finally, the organizing committee extends its sincere thanks to the university director, Professor Omar Farhati, and to all the researchers who participated with their valuable research and efforts.
