Sustainability matters more than ever:
As early as 2003, Arab African International Bank was the first Egyptian Bank to call for sustainable business practices having a strong track record in sustainability. A decade ago, AAIB with a clear vision for its future; set a robust course to unprecedented growth.At AAIB, we wholeheartedly believe that managing a leading financial group is not only about numbers, but also about embracing our Society and related environmental aspects through effective sustainable finance while embracing AAIB core values.AAIB was the first bank in the MENA region to adopt and set the trend for sustainable finance as a vision and an approach within the banking industry. The distinction of AAIB sustainability efforts much lies in its presence among the most renowned international networks.AAIB became the first bank to introduce social and environmental risk management in its project finance and the first bank to join the United Nation Global compact in 2005, the London Benchmarking Group (LBG) in 2007 and the Equator principals (EP) in 2009. While in 2010 AAIB pioneered the issuance of the first sustainability report in Egypt.The bank has a powerful and profound message that was envisioned in 2003 when AAIB launched a series of initiatives calling for the adoption of a new concept of sustainable finance. In addition, AAIB has been ahead of the curve in attending environmental challenges. In this context, it has issued its first carbon footprint report in 2012 in the financial sector in Egypt to measure and minimize its carbon emissions.
AAIB CSR initiatives:
"Keep the Coast Clean"is an environmental initiative aiming at sustaining and protecting the Egyptian beaches from pollution and spreading environmental awareness, in addition to AAIB’s planting initiative which helps in reducing carbon emission and protect the environment from pollution.
Mostadam
AAIB has been focusing on creating an industry move towards sustainable finance in Egypt, it launched the seminal; Mostadam where we became the first regional bank to launch a sustainable finance platform. the first sustainable finance in Egypt and Mena region in collaboration with the United Nations Development program and the Egyptian center for social responsibility of companies which acted as a call for the cooperation of the banking sector to implement sustainable finance.AAIB initiated public advocacy for sustainable finance. It conducted a workshop in partnership with IFC to educate peers on environmental and social risk assessment. Also, it partnered with national and global academic institutions who showed interest in portraying AAIB experience into case studies. AAIB was chosen for its effective role in sustainability to present Egypt in International conferences such as the G20 in China, Green Finance group and COP 22 UN conference for climate change in Morocco.
Principles of Responsible Banking:
At AAIB we are determined to be a more responsible bank, underpinned by strong processes throughout our organization. We're determined to minimize our environmental impact, invest in our people and embed our values across our business in the markets where we operate.AAIB is also a founding signatory of the Principles for Responsible Banking, which delineate the banking sectors’ roles and opportunities in pursuing national and global goals articulated by Egypt Vision 2030, the Sustainable Development Goals, and the Paris Climate Agreement. AAIB collaborated with the United Nations Environment Programme Finance Initiative and 29 other leaders of the global banking industry to establish this visionary framework for responsible banking that addresses the needs of individuals and society.
Environmental, Social & Governance:
ESG considerations can play a financially material role. Environmental, Social and Governance ("ESG") matters are an important consideration in how we do business, including how we develop our products and services, serve our customers, support our employees and help lift our communities.Our process identified the key ESG topics:ENVIRONMENTAL revolves around Climate Change, Climate Policy Engagement, Operational Environmental Footprint, Responsible Investment and Financing & Transition to Low-Carbon Economy. SOCIAL revolves around Consumer Financial Protection, Community Development, Diversity, Equity, Inclusion and Equal Opportunity, Human Capital Development & Wages/Remuneration. GOVERNANCE revolves around Board Governance, Climate Risk, Cybersecurity, Data Privacy, Economic Performance, Enterprise Risk Management, ESG Compliance, Ethical Business Practices, Geopolitical Risk , Responsible Marketing and Labeling, Stakeholder Engagement & Succession Planning.
E&S Risks:
AAIB was one of the first banks to recognize that banking could be a force for good in shaping an equitable, resilient society and to embed sustainability criteria in banking decisions. More than 12 years ago, AAIB adopted the Equator Principles, which are parameters for identifying and managing the social and environmental risks in project-related transactions. AAIB’s commitment to the principles is supported by robust internal policies procedures and staff engagement.
AAIB Green Finance Portfolio:
In light of the global and local drive towards sustainable and green energy, AAIB was one of the pioneers in providing direct financing and contingent facilities to the landmark renewable energy projects in Benban Solar Park, Aswan. This project capitalizes on Egypt’s enormous potential for solar energy becoming one of the world’s largest solar farms with a capacity of around 1.65 GW aiming in reducing the country’s reliance on expensive and polluting fossil fuels. As part of AAIB’s direction towards supporting sustainable and green finance, AAIB has successfully closed 11 renewable energy projects focused on solar power plants. One of those, is the largest in the middle east; Benban Solar Park in Aswan Governorate. AAIB's achievements in the renewable energy sector highlight its dedication to sustainability and making a positive impact on the environment and society. AAIB has also financed one of the leading Independent Power Producers (IPPs), to complete the supply, installation and operation of a photovoltaic (PV) solar power plant with first phase capacity of 7.128 MWp (Megawatt peak) in Orascom Development’s El- Gouna township in Hurghada. In line with our strategic commitment to sustainable banking, Arab African International Bank UAE acted as Joint Lead Manager and Bookrunner for the inaugural offering of Five Holdings’ USD 350 million Green Bond on Nasdaq Dubai. This transaction exemplifies AAIB’s unwavering dedication to being at the forefront of sustainable finance and reinforces its positioning as a key player in the green finance sector, through expanding its portfolio of responsible investments and engaging with businesses that bolster sustainable economic growth.
Arab African International Bank launches the first phase of Al-Kasr Al Aini faculty hospital.
Arab African International Bank launched the first phase of the renovation work for the conference center and archaeological museum of the Faculty of Medicine - Kasr El Aini, during the annual conference of the Faculty of Medicine, in celebration of the 190th anniversary of the establishment of Kasr El Aini.
Arab African International Bank cooperate with Misr Elkheir Foundation to distribute school bags on community schools’ children in Beni Suef
Arab African International Bank announced its first cooperation with the Misr Elkheir Foundation to distribute new school bags equipped with all educational supplies to the children of Misr Elkheir community schools in Beni Suef Governorate, to reduce the burdens on the students’ families and to provide a special atmosphere for the students on their first day of school. This cooperation resulted in the participation of AAIB’s employees in packing school bags at the bank’s headquarters as a volunteer activity, and the distribution to 7 community schools in Beni Suef Governorate, emphasizing its commitment to the role of social responsibility.
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