Page 35 - Respond 2016 Magazine

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Stage 1: Strategic Philanthropy
AAIB has been the first bank in Egypt and the Middle East to establish
a foundation for social development in the fields of health and
education, We Owe it to Egypt Foundation. As such, AAIB set a trend
that opened the way for other financial institutions to establish their
own foundations and contribute to health and education in Egypt.

In education, the Bank managed to bridge the gap between
banking and the academic sectors through initiating a one-of-
a-kind educational prototype, The Arab African International
Bank Award. It is an annual banking competition for university
undergraduates to innovate a banking service and product.
Hassan Abdalla CEO of AAIB awarded Best Bank in CSR in the Middle East
Stage 2: ESG integration into core business and sustainability Award, Euromoney.
reporting
AAIB has been a forerunner in joining and adopting various In 2015, in partnership with the CBE’s educational arm, the Egyptian
international frameworks and organizations to help integrate Banking Institute (EBI), MOSTADAM launched the first Certified
sustainability into its business operations in a systematic manner. Training Program introducing sustainable finance, certifying 35
As early as 2005, AAIB joined and started reporting to the UN Global professional bankers as sustainable finance champions within the
Compact. Across 2014-2016 AAIB has been on of few selected industry representing 11 eleven (11) banks across the region with
global banks acknowledged in the latter’s annual yearbook. presence in Egypt. Another key strategic partnership with Frankfurt
School of Finance & Management in Germany was established
Responsible Lending was promoted in AAIB’s corporate banking in2016, to provide two certified modules on Renewable Energy
and investment practices, when the Bank joined the Equator Finance, and SMEs Finance.
Principles in 2009, to assess environmental and social risks within its
project lending activity. Annual reporting on bank’s portfolio status There is much room for the financial sector to play a crucial role
has been another level of commitment to indicate how financial in bringing about sustainable development creating winning
performance is linked with social and environmental impact. synergies that integrate the social, environmental and economic
dimensions. AAIB believes that the Egyptian financial sector is well
In 2007, AAIB has also been the first in Egypt to join the London poised to take the lead and trigger the industry transformation.
Benchmarking Group (LBG); to measure the bank’s community
investment and impact and the social return on its investments.
In support to Climate Change, AAIB has been the first bank in Egypt
to measure its carbon footprint in 2012. A group-wide awareness
and educational carbon footprint campaign has been launched
internally addressing all bank staff from top management to
support staff members. This facilitated the Engineering, IT and
Admin Support Divisions embracement of a carbon emission
reduction strategy as part and partial of their annual business
agenda starting 2017. Recycling, double side printing, centralized
operations, and LED lighting system across AAIB’s premises are in
the implementation pipeline.

While AAIB published its first sustainability report in 2010 based
on some GRI components, currently the bank is about to publish
its G4 based sustainability reporting for more holistic disclosure
on ESG issues.
MOSTADAM…An Industry Movement
Stage (3): Policy Advocacy & Industry Movement “MOSTADAM“
Accelerating a bank industry movement towards the embracement
of sustainable finance in Egypt and the region. In 2012, AAIB
founded MOSTADAM (Arabic translation of sustainable) platform,
in partnership with the UNDP and the ECRC. The platform aims
at accelerating the strategic transformation of a traditional
financial sector into one conforming with innovative sustainability
principles. It acts as Egypt’s focal point for exchanging sustainable
finance best practice and knowledge with peers.

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