dbsouq Corporate Social Responsibility Policy
dbsouq.com’s long term goal is to be aware socially and ethically and apply the same in the business. In the corporate community dbsouq.com has continually demonstrated a high standard business ethics. The company not only devotedly adheres to the regulatory requirements defined by the business laws but also follows an articulated Corporate Social Responsibility norm.
Corporate Social Responsibility can be basically described as a work culture adapted by companies wherein Companies incorporate ethical, social, economic and environmental values in to the businesses and integrate the same principles while dealing with their stakeholders and the community they thrive to serve.
The company’s vision is to conjoin their business policies, principle values and schemes to that of the requirements of our esteemed clients, stakeholders, and our employees who devote their time to build a strong business foundation. dbsouq.com’s CSR policy, however, fully takes account on the impact caused by the operations of the business by being a committed adherent of corporate social responsibility system.
According to the aforementioned framework, dbsouq.com is accountable in the following business measures;
Welfare of the Society – To serve equally, without being biased and aim at improving the under-privileged society.
Contribution to the Community – To develop the society by being more conscious of the environment and also by making the citizens socially aware, especially in regards to the progress of lower divisions.
dbsouq.com’s long-term goal is to incorporate the CSR policy as part of our company rules and regulations so as to carry-out the business in accordance to the vision that reflects in the growth of the society at large.
Furthermore, the company’s objective is also to implement the above-mentioned business measures to create a better and more economically and environmentally developed society. In the long run dbsouq.com’s mission is to be one of the well-defined and well-structured corporate of the nation.
CSR Activities Areas
dbsouq.com focus is mostly aligned with the under-privileged society, remote villages, and the needy people living in varied suburban areas.
The budget of the CSR activities is split into two proportions;
80% - To be invested on the activities cited below; in the proximate radius of 50 km of the head office/ branches and other centers.
20% - To be spent on sectors and sub sectors mutually agreed upon by the board of directors and Corporate Social Responsibility committee.
The following areas will be covered under the CSR activity projects:
Education: Educate the rural areas; promote value of education and the importance of woman education in villages. Initiate transportation facilities for the school goers; offer books, notes and other study materials to the under-privileged girls and support them to develop and educate each other.
Water: Incorporate supply of water in remote areas. Provide drinking water, install rainwater harvesting system, deliver plumbing facilities and fix pipelines.
Employment: Generate employment opportunities in suburban sectors and villages around the operational areas of the company.
Charity / NGO: Raise money for charity, offer donation to hospitals and other charitable trusts, to be a prime sponsor to affiliated NGO’s and be an active participant to improve the society and the surrounding environment.
Basic Necessities: Offer basic necessities such as clothes, winter clothes, first aid kits, and food to the poorer sections which are in the vicinity of the company offices and branches.
Infrastructure: Adopt a particular village and help develop it by investing on its infrastructure building, providing education, offering jobs and creating social awareness.
Woman empowerment: Empower women by encouraging them to study, earn and self-defend. Teach them to be self-dependant and confident. Train them in various vocational courses so they can earn a living all by themselves.
Health: Offer free medicines and medical kits to villagers and set up health care camps.
Social Empowerment: Train and uplift the society especially the young minds. Educate them on the importance of education, healthy lifestyle and self-hygiene. Train them on different areas of job opportunities, personality development and woman empowerment. Provide young minds with basic computer knowledge etc.
Other welfare activities: Includes awareness on uncontaminated environment system, irrigation and agriculture and green belt development.
The aforesaid measures are not all inclusive and only illustrative. The committee is sole authority in adding and deleting or reconsidering any measure mentioned above.
Planning and Execution of CSR activities
Planning and Implementation of the aforementioned activities is incorporated by the CSR committee. The activities are implemented project wise and each project shall be undertaken externally, through an affiliated NGO or any external agency, or internally, by the employees of the company. The decision is taken by the committee who will nominate the team for CSR.
Under the assessment of the Chief Executive Officer the Chief Financial Officer shall form a CSR activity proposition in the first quarter of the year which includes a list of activities to be undertaken in the following financial year. After which, the proposition shall be handed-over to the CSR committee head who shall furthermore evaluate the proposal to form the final list of activities to be instigated.
Going forward, the CSR committee shall set a budget for each project. The budget is generated and shall be modified in accordance to the year’s financial performance and other regulatory norms and limits.
The projects shall be incorporated at a priority basis. The order of the priority is decided by the committee subject to the urgency or the area and purpose of the project at large.
The CSR employee team or the external agency shall periodically coordinate and update the status of the CSR projects to the committee.
The CSR committee time to time shall assess and evaluate the progress of the projects until successful completion.
An efficient management network shall be formed by the committee so that the implementation and execution of the projects are performed smoothly and proficiently.
Lastly, the CRM committee shall evaluate the implementation of each project as it progresses and modify, add or recommend suitable actions if need be.
DBSouQ is Brand Name of The Fe Mall Online Retail and E Commerce Trading FZC, Registered as FZC at RAK with Licence Number: 5012338