- Fayed: Through joining the UN’s Women’s Empowerment Principles, we aspire to create a more inclusive and diverse work environment, bridging the gender gap in alignment with the country’s efforts to enhance women’s leadership roles and with Egypt’s Vision 2030, and in accordance with First Abu Dhabi Bank’s 2030 goals for empowering women.
Cairo: First Abu Dhabi Bank Misr (FABMISR), one of the largest banks operating in Egypt, announced signing the United Nation’s ‘Women’s Empowerment Principles (WEPs). This initiative, launched by the UN Women in collaboration with the UN Global Compact, provides guidance for institutions to support gender equality and women empowerment in the workplace, society and the overall community. The WEPs were signed during a ceremony, and was attended by FABMISR’s executives and the UN Women in Egypt representatives. The bank’s commitment to the WEPs aligns with its strategy to empower women and create a more inclusive and diverse work environment. This initiative is in line with the country’s strategy, Egypt Vision 2030, as well as FABMISR’s 2030 goals for empowering women both socially and economically.
After signing the Women’s Empowerment Principles, FABMISR becomes part of a network of 100 Egyptian institutions and over 8,500 global organizations dedicated to strengthening women’s roles in society and empowering them economically and socially, while also promoting gender equality. The seven principles include: establishing an organizational commitment to achieving gender equality, treating all employees from both genders fairly and without discrimination, ensuring the health, safety and well-being of all female and male workers, promoting education, training and vocational development for women, achieving sustainable development for projects and practices related to supply chains and marketing that empower women, enhancing equality through community initiatives and awareness programs, and measuring the public reporting of progress in achieving gender equality with full transparency.
During the signing, Mohamed Abbas Fayed, CEO and Managing Director of FABMISR, said: “We are proud to adopt the United Nations’ Women’s Empowerment Principles. It is a fundamental pillar in FABMISR’s sustainability strategy to empower women and enhance their leadership roles in the workplace, economy, or society. This commitment does not just enhance our organizational performance, but also fosters innovation and economic growth. This commitment reflects FABMISR’s support of the state’s efforts to achieve Sustainable Development Goals, especially the UN’s fifth goal embedded in Egypt’s Vision 2030, emphasizing gender equality and empowering all women and girls.”
Fayed also emphasized, "Our commitment to promoting women's roles and gender equality extends beyond being a women's issue; it is an economic imperative. We are dedicated to strengthening our leadership in fostering a more inclusive and diverse work environment for everyone. Guided by the United Nations' seven principles, we adopt best practices, including standardized operational procedures to promote and empower women in the workplace. In alignment with these principles, we provide scholarships and professional training for women across various fields, such as management, procurement practices, and diversity and inclusion. Additionally, we offer entrepreneurship programs for young female entrepreneurs and employment programs for job seekers, including those with special needs. We are committed to transparency and accountability, regularly issuing public reports on our progress. This commitment aims to cultivate a more inclusive work environment, contributing to social development and fueling economic growth in the country."
Ms. Christine Arab; Country Representative, UN Women Egypt, stated: “UN Women Egypt commends FABMISR’s recent commitment as a signatory to the Women’s Empowerment Principles (WEPs). We welcome the bank’s adoption of more practices that contribute to a more inclusive and diverse work environment for women, as a key step to achieving the Bank’s broader vision for its clients, and UN Women looks forward to partnering with them in this process. It is hoped that FAB Misr’s engagement in the WEPs will encourage more financial institutions to join the WEPs community to enhance women’s economic empowerment .”
FABMISR’s sustainability strategy focuses on supporting women, youth and individuals with special needs by addressing the diverse needs of these groups by providing comprehensive and tailored banking services and products. The aim is to integrate them into the banking sector, achieving financial inclusion. The bank also adopts initiatives that contribute to achieving social development, in addition to financing sustainability projects, green financing, and economic and social empowerment projects for women. This aligns with the Sustainable Development Strategy “Egypt Vision 2030” and actively contributes to driving economic development in the country.
FABMISR, a subsidiary of the First Abu Dhabi Bank Group (FAB), is one of the largest foreign banks operating in Egypt. FABMISR’s local network operates through 64 branches, where it provides leading banking products and services that cater to all customer segments; along with achieving the highest value for its stakeholders and employees. Moreover, the bank offers a personalized banking experience to meet the various expectations of its customers from large organizations, SMEs and consumers whilst utilizing its global experience to support stakeholders, entrepreneurs and the local economy.
FAB is one of the world’s largest and safest financial institutions with an international network spanning over five continents. The bank also offers global relationships, extensive experience, and financial strength to support local, regional, and international companies seeking to manage their businesses at home and abroad.
FAB is rated Aa3, AA- and AA- by Moody's, Standard & Poor's (S&P, and Fitch, respectively), making it the most robust aggregate rating of banks in the Middle East and North Africa region. FAB is also a regional leader in sustainability and is part of the MSCI ESG Leaders Index and FTSE4Good EM.
For more information on FABMISR, please visit www.bankfab.com/en-eg.