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Corporate Social Responsibility |
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| | | Message from CEO |  | | | Dear Readers; | | Our commitment to Corporate Social Responsibility (CSR) started in 2002 to coincide with the banks adoption of an aggressive growth strategy that ultimately made it consistently the fastest growing bank in terms of size and profitability for five consecutive years. At that point, we felt a duty that we should not only grow financially but also develop a deeper commitment to help the growth of the community. We believe that our role goes beyond profit-making to include a moral mission to society.
Joining the Global Compact in 2005, we learnt that CSR involves much more than sincere philanthropy. It is about building content, substance and structure, much of which has been inspired and guided by the UN Global Compact principles that comprise the essence of human rights, labour laws, environmental and anticorruption guidelines. The more we develop a deeper understanding of these principles, the more we realize that financial institutions should work hard to interpret their implementations within the confines of their specific industry. To this end, we have been working diligently to come up with industry best practices.
For many in Egypt, CSR is a concept that is rapidly gaining acceptance and the private sectors tremendous potential to contribute to sustainable development remains insufficiently explored. Over the past months, we have invested heavily in building our employees understanding of how companies, and the financial services sector in particular, can go beyond profit-making to bring about sustainable improvements in the community. From their feedback, we have also gained a wealth of fresh ideas as to how we can develop an innovative and distinctive approach to living up to our responsibilities - one that is uniquely tailored to the Egyptian context. We are committed to taking these forward over the coming months and years.
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With a constantly maturing understanding of corporate social responsibility, we become more and more inclined to believe it is about value creation. CSR is more an opportunity and an investment rather than a risk and a cost as originally assumed. In many ways, CSR is not a zero sum game but an effective formula to generate a win-win scenario to all stakeholders.
In time, we are experiencing an evolving business rationale that correlates transparency, integrity and positive societal and environmental impact with core competency and profitability.
This report signals our openness to establish dialogue and engagement with the wider community as well as our determination to be fully accountable for our actions. While we have made some notable achievements, we are eager to learn more and to build our efforts in a way that not only inspires our employees but also others in the business community. I and others at AAIB embrace this endeavor with the eagerness and passion that has underpinned our success to date and invite you to work with us - to enact our belief that CSR is about value creation.
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