AAIB exerts efforts for 20 years to be a pioneer in sustainable development
About 20 years ago; the Arab African International Bank which was then led by Hassan Abdullah, realized that success could not only depend on mere financial numbers and the bank is an integral part of the ecosystem.
Accordingly; the Bank has worked to achieve inclusive growth and to support sustainable development. This role is being continued under t its current CEO, Sherif Elwy
AAIB has begun his journey in this file since 2003, when the bank worked to integrate its environmental, social and governance role into its banking activities and operations which led it to be a pioneer in that regard.
Thus, the AAIB was the first bank in Egypt to adopt the United Nations Global Compact in 2005, in addition to joining the Tropical Principles in 2009, to be the first bank to provide social and environmental risk assessments in lending operations.
In 2016, AAIB participated in a study issued by the Group of Twenty on green financing and presented its experience and vision in the field of sustainable financing at the United Nations Climate Change Conference in Marrakech, Morocco.
The Bank's relentless efforts continued through launching the Mustadeem International Forum in cooperation with the United Nations Development Program and the Egyptian Center for Corporate Responsibility, to become the first forum of its kind in Egypt and the Middle East.
The Arab African Bank was also the first bank to issue a sustainability report on an annual basis in accordance with the principles of global disclosure.
Furthermore, the bank is also one of the founders of the United Nations Global Compact Network in Egypt, which works to achieve the principles of sustainable development in Egypt, not only that, but also joined the financial initiative for the United Nations Environment Program in 2018.
Moreover, it focused particularly on promoting sustainable financing services and products. In addition, the bank was a pioneer in financing clean energy projects and working to achieve financial inclusion.
In 2017, it financed Benban project, which is considered the largest gathering of photovoltaic solar power plants without storage in the world.
It has also participated in the formulating of principles for responsible banking with other 27 member banks of the United Nations Environment Programme's Financial Initiative.
All these tireless efforts resulted in the bank winning international acclaim in this regard, to be crowned in 2018 with an award for the best bank in the field of sustainable financing in the Middle East from Euromoney
