Arab African International Bank The First Egyptian Bank to Adopt the ‘Equator Principles’

Cairo - 25 January 2009

Arab African International Bank (AAIB) finds pride in announcing it adopted the Equator Principles (EPs) on 25th January 2009. Being Egypt’s leading financial institution in social and environmental efforts, AAIB is now the first Egyptian institution to adopt the EPs. This comes as an important step that AAIB takes towards a more CSR - oriented core business.

AAIB believes that finance - in present times - has to strengthen its role of becoming a force behind positive socio-environmental change around the world.

A leader in corporate finance in Egypt’s growing and well diversified economy, AAIB has vested interest in adopting Equator Principles to further substantiate social, environmental, and moral considerations across different sectors of the economy, particularly through its vast network of corporate clients.

AAIB’s mandate to add value to stakeholders and embed CSR across all of its practices has been evidenced through establishing a Corporate Social Responsibility Unit with the objective of enacting professional adherence to codes of conducts and ethics in dealing with stakeholders.

This inclination is enforced through AAIB’s engagement within international organizations that enlighten and substantiate its CSR policies. AAIB is a member of the UN Global Compact which focuses on human rights, labour standards, the environment, and anti-corruption. AAIB has also joined London Benchmark Group (LBG), a London-based organization that provides standard parameters measuring the effectiveness of corporate contribution to community development.

In 2007, AAIB launched its foundation for social development, “We Owe it to Egypt”. Its scope and objectives extend far beyond the bank’s identity with its primary goal to enact a nation-wide initiative that inspires and mobilizes the corporate sector towards making a fundamental and positive difference in the fields of public health and education in Egypt.

Established in 1964, Arab African International Bank acts as a gateway for international business into the region through providing innovative corporate and retail services with a strong regional presence.