03 June 2015
Arab African International Bank (AAIB) - the forerunner bank and active achiever in corporate social responsibility and sustainable development in Egypt - has been honored and recognized from The Arab Organization for Social Responsibility by a Golden Shield of excellence in CSR for the bank's outstanding and leading performance since 2003 within this field. The Award also attests to the bank's innovative and leading approach to sustainable finance that goes well beyond traditional CSR and philanthropy.
This is the second regional recognition for AAIB in the field of is the first of CSR and sustainability since its previous one in 2012.
Since 2003, AAIB has demonstrated a strong commitment to corporate social responsibility and sustainable development. This is the message AAIB has been sending for enacting Sustainability for over a decade.
Receiving the award at the ceremony held in Dubai, UAE, AAIB's Vice Chairman and Managing Director, Mr. Hassan Abdalla states: "We are proud and honored to win this prestigious regional Golden Shield of excellence by The Arab Organization for Social Responsibility. We are especially pleased to represent Egypt and the banking sector's active and influential role towards its economy, environment and community, especially during this transitional era nationally and globally."
AAIB was the first Bank in Egypt to fully adopt, embed and advocate for promoting and practicing sustainable finance and development in Egypt since 2003. In social responsibility, AAIB initiated its own innovative programs among which were establishing the first foundation by a bank for social development, namely, We Owe it to Egypt foundation, in addition to the first banking competition for university undergraduates, namely, the Arab African International Bank Award.
In environmental responsibility, AAIB was the first signatory of the Equator Principles in 2009, and the second in the region, to assess environmental and social risk within the bank's project lending operations. Moreover, AAIB has recently published the first carbon footprint report to measure its carbon emissions in order to reduce its environmental impact, on climate change. Employees' engagement in Earth Day and environmental initiatives is an annual practice that AAIB is keen about enforcing internally.
Furthermore, since 2011, for five consecutive years, the Global Compact International Yearbook has recognized AAIB, as Best Practice, worldwide, various international and financial institutions.
In sustainable finance, AAIB has launched the first certified training for 11 banks in Egypt, in an effort to advocate for sustainable finance; under the first platform of its kind in Egypt, namely, MOSTADAM. This is in an effort to join efforts in the industry through embedding sustainability pillars (environmental, social and governance) within bank's operations, products and policies.
The annual Arab Organization for Social Responsibility Golden shield for excellence in sustainability recognizes the Arab Region's initiatives by corporates and banks positively affecting the society and environment. The Awards Ceremony took place in Dubai, with the attendance of renowned bankers, finance celebrities and business community leaders from UAE and leading Arab countries.
Mr. Abdalla added: "This regional recognition reinforces our determination to continue delivering outstanding results, while maintaining our focus on sustainable finance in Egypt and the MENA region as part of our national mission to bring positive change within the banking industry."
© Press Release 2015