For the seventh Consecutive Year, Banque Misr is in Compliance with GRI and the UN Principles of Responsible Banking and Commitment to International Sustainability Standards
Owing to Banque Misr’s status as a leading financial institution that adheres to the principles of sustainability; and its compliance with the General Reporting Initiative (GRI), it is considered the first state-owned bank to report its business practices with consideration to such tenets as governance, human rights, anti-corruption, social participation and environmental safety standards. The GRI network comprises thousands of institutions around the world that report their business outcomes from the perspective of sustainability as a basis for disclosure, for the purpose of realizing communal participation and prosperity. The Bank has recently published its annual sustainability report for the financial year 2019/2020, which showcases its successful commitment to implementing the principles of sustainability in all its transactions and operations – whether on an economic, social or environmental level.
This is together with Banque Misr’s compliance – as the first national bank and since late 2015 – with the UN Global Compact for Citizenship (Corporate Social Responsibility) standards, since it has consistently observed the ten standards and principles of the Compact, which take into account equality, rights, the abolition of discrimination and child labor, maintaining a healthy and safe environment, implementing governance and combating corruption.
The Bank has also recently partaken in the financial initiative of the UN’s environmental program for launching “Responsible Banking Principles”, targeting the realization of sustainable development and the social and environmental responsibility of institutions. As such, Banque Misr positions itself on the list of responsible banks that conduct their business transactions in compliance with sustainable development objectives and the Paris climate change treaty. The initiative establishes a framework for sustainable banking systems, where financial institutions align their business strategies with the interests of individuals and the community; while striving to maximize positive impacts and mitigate negative influences of business on individuals and society.
In reporting its business practices, Banque Misr focuses on clarifying its accomplishments at the level of various sectors and operating responsibly with all relevant parties; while promoting sound practices that fulfil sustainability and government requirements so as to maintain the principles of transparency and accountability. This is in addition to highlighting the sustainability initiatives and projects undertaken by the Bank, which serve to underscore the importance of collaboration between all institutions, sectors and segments of society to attain environmental and communal sustainability.
Ever since its inception, Banque Misr has been set on providing banking services to all citizens of Egypt. As such, its role has not been limited to merely attaining financial success but has expanded to position it as a national financial instrument spearheading domestic and strategic development in social and economic domains. The Bank operates an expansive network of more than 750 branches across Egypt and the Middle East, rendering its services to all social segments for the purpose of realizing financial inclusion as a tenet of sustainable development and a driver of growth, financial and social stability.
Accordingly and towards achieving financial inclusion, Banque Misr has keenly partaken in several initiatives and protocols that serve members of society and has also observed all standards of achieving sustainable development. From assessing the environmental impact of its activities insofar as emissions, to monitoring financial and non-financial performance, risk management, enabling governance-based plans, cutting costs, strictly observing all laws and regulations and financing environmentally-friendly projects; Banque Misr has emphasized the importance of observing these standards to all relevant parties.
The branch of Banque Misr “Mostafa El-Nahhas” recently obtained a silver “Tarsheed” certificate. This certificate reflects the bank’s commitment to social responsibility towards preserving the environment and the principles of sustainable development; Obtaining this unique certificate depends on the bank’s adoption of environmentally friendly practices with the aim of mitigating the harmful effects of the environment in addition to providing a healthy environment for employees and customers. The Tarsheed Award is considered the nucleus of an advanced methodological approach aimed at raising the efficiency of the bank’s future branches.
Owing to its belief in social responsibility – as one of the main tenets of achieving sustainable development – the Bank participates both directly and indirectly through its independent, non-profit foundation “Banque Misr Foundation for Community Development” in developing and assisting the Egyptian community in multiple fields including education, culture and employment, public health and the environment, as well as aiding the most deserving Egyptian villages.
Banque Misr diligently strives to improve its services and maintain its longstanding success, in addition to proactively partaking in services that fulfil the needs and expectations of customers, owing to them being its partners in success. The Bank also works to strengthen its leading role and continuous ability to achieve robust performance levels. It was established for the purpose of contributing to the wellbeing and prosperity of society and for more than 100 years, has kept true to its mission; assuming the role of a national instrument spearheading communal development in all areas, while being committed to achieving sustainable development for Egypt.