The Arab African International Bank (AAIB) held a ceremony for 32 graduates of its MOSATADAM programme, a certified training programme in sustainable finance.
Representative of financial institutions across the Egyptian banking sector, the graduates are prepared to act as agents for change in order to help the banking sector move to embrace sustainable finance principles.
MOSTADAM was jointly established by the AAIB, the United Nations Development Programme (UNDP), and the Egyptian Corporate Responsibility Centre (ECRC) in 2012.
Its first module, entitled Introduction on Sustainable Finance, was certified by the Egyptian Banking Institute (EBI). The newly launched platform aims to instil adherence to economic, environmental, and social and governance within the bank’s core policies and practices.
Hassan Abdalla, CEO and vice chairman of AAIB commented: “For more than a decade, AAIB has been diligently pursuing sustainable finance. Now, we are proud to share our experience and help the Egyptian banking sector to become a forerunner in sustainable finance on a global level.”
The AAIB’s practice in sustainable finance has been recognized by the United Nations Global Compact (UNGC) in the category of Best Practices. AAIB joined the UNGC in 2005 and implemented the compact’s 10 principles in the areas of human rights, labour and environmental practices, and the prevention of corruption. As such, AAIB is the only bank in Egypt and one of four banks globally to be acknowledged for its practices in social development, sustainable finance and strategic philanthropy.