Printer Friendly

AAIB named Egypt's Best Green Bank for 2015.

The Arab African International Bank (AAIB) was named the "Best Green Bank" in Egypt for 2015 by Capital Finance International (CFI) for adopting green banking principles.

CFI's recognises AAIB for being the first to introduce social and environmental risk reporting to measure the impacts of the bank's loan portfolio on an annual basis. AAIB adopted the Equator Principles (EPs) in 2009, a risk management framework that allows financial services providers to measure environmental and social ramifications of any project submitted.

Hassan Abdalla, Vice Chairman and Managing Director at AAIB commented: "The bank's understanding for corporate social responsibility has evolved in the last decade to embed sustainability concepts in all our banking traditions."

In addition, CFI acknowledges the bank's leadership for being the first bank in Egypt to publish the first Carbon Footprint Report. AAIB also had widespread initiatives to engage its employees in reducing their carbon emissions.

As such, AAIB is the first bank in Egypt to embrace sustainable finance as a strategic concept that coherently ties with its notion of growth.

CFI provides news, analysis and commentary on the markets worldwide. It addresses economic, political and business factors affecting these markets and helps identify the regional industry sectors and companies that will succeed.

[c] 2015 Daily News Egypt. Provided by SyndiGate Media Inc. ( Syndigate.info ).

COPYRIGHT 2015 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2015 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Daily News Egypt (Egypt)
Geographic Code:7EGYP
Date:Nov 22, 2015
Words:216
Previous Article:Frame of obligations set in power purchasing agreements' final draft.
Next Article:Banque du Cairo wins first place in return on capital ranking for MENA banks.
Topics:

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |