BM is The First State-Owned Bank to Comply with GRI Standards
Banque
Misr is the first state-owned bank to comply with the Global Reporting
Initiative (GRI) standards on its
reporting framework in terms of governance, human rights, combating corruption,
community engagement, in addition to environmental protection and safety. The GRI global network of thousand entities
adopts transparency in reporting framework to achieve greater community
participation and prosperity.
Since
its establishment, Banque Misr’s seeks to provide an array of banking services
to all Egyptians. BM adopts an approach that is not solely focused on attaining
financial profits, but also on having a positive strategic impact on the
national economy through supporting different industries. Banque Misr owns the
largest branch network in Egypt and the Middle East with more than 580 branches
spread across the country. Banque
Misr’s branches serves different segments in the society pursuing financial inclusion,
which is considered a vital aspect to achieve sustainable development for
having direct impact on enhancing financial rates and social stability.
In
terms of efforts exerted in creating a financially inclusive community, Banque
Misr is ranked the first place for the eleventh consecutive year with around
2.4 million issued salary cards, 3.4 billion pounds payroll payments. In
addition, the bank is ranked the third for its ongoing efforts for offering a
wide range of electronic payment services including taxes and customs through
its 297 branches, with an aim of transforming Egypt into non-money based
community.
Moreover,
Banque Misr has participated in several initiatives and protocols that in
return have served the community including the Central Bank of Egypt’s mortgage
initiative for the unprivileged and middle-income individuals, whereas a total
of EGP 869 million loans have been issued on 31 December 2016 for a total of
10309 beneficiaries.
BM
financed "Mashroak" initiative which aimed at achieving community
development through supporting micro and small enterprise with a total granted
loans valued EGP 1.08 billion for a total of 32361 clients on 31 December 2016.
Banque
Misr is also taking into account all the aspects for achieving sustainable development
in the energy and emissions fields in addition to other principles that highlight
the link between financial and non-financial performance, risk mitigation, embracing
governance-based plans, cost reduction, and compliance with standards and laws.
The bank is financing environmentally friendly projects that aim to achieve
sustainable development, with emphasis on the commitment of all parties
involved within the Bank to these standards, all of which are continuously
supervised.
Furthermore,
the bank has allocated 5 billion pounds in order to finance electricity from environmentally
friendly energy resources in compliance with The Egyptian government renewable
energy plans that aims at building 3 power plants, and has allocated a total of
450 million pounds to construct alternative energy units.
In addition, the bank scrapped and replaced Taxi cars with new natural gas
vehicle to reduce carbon emissions.
As
per BM's strong belief in supporting social responsibility, as one of the
pillars of achieving sustainable development, the Bank participated directly or
indirectly through "Banque Misr Foundation for Community Development,"
an independent non-profit organization, contributing to the comprehensive
development of various social aspects including education, culture, employment,
public health and environment, in addition to supporting the most-in-need
villages and women's projects.
This
comes in line with being the first national bank to comply with “UN Global
Compact” for year 2015, as a result of the bank's continuous quest in promoting
corporate social responsibility and advance ten universal principles in the
areas of discrimination, equality, human rights, child-labor, environment,
governance, and anti-corruption.
