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Banque Misr Donates EGP 32.08 Million to the Catheterization Center at the Magdy Yacoub Heart Foundation

Owing to its pioneering role in the field of corporate social responsibility and the importance it designates to the health domain, Banque Misr has donated EGP 32.08 million to the Magdy Yacoub Heart Foundation – specifically the Catheterization Center at the new Magdy Yacoub Hospital in October Gardens. This is for the purpose of accommodating the growing need for treating cardiovascular disease and integrating treatment, research and capability building in a scientific manner.

The new building set to be erected in 6th of October City shall be of a 300-bed strong capacity, in order to accommodate the demand for treatment (150 adults and 150 children) and thus, multiply the hospital's ability to serve outpatient clinic patients by threefold to number some 80,000 patients per year. The building will also incorporate five operating rooms and five catheterization laboratories, together with an operating room equipped with high-quality x-ray and radiation scan machines.

This comes as an assertion of the pioneering role played by Banque Misr in the area of corporate social responsibility, being one of the most important tenets of its business and endeavors – both directly and indirectly – via its non-profit organization "Banque Misr Foundation for Development and Welfare", which is registered at the Ministry of Social Solidarity under No. 7045 / 2007. The Foundation works towards the development and advancement of Egyptian society, while providing assistance by partaking in various activities and initiatives of a social nature; and striving to achieve the best for communities in the domains of health, education, social solidarity and communal development. Examples include development projects in the most deserving Egyptian villages, by way of micro and small projects, contributing to the creation of job opportunities for youths and female breadwinners; in collaboration with civil society institutions. This is in addition to developing slum areas and all that relates to human growth. 

Banque Misr is considered one of the largest and most experienced banks in the area of social development; and the most environmentally aware and responsible, insofar as governance regulations, which complement its principles of long-term performance and sustainability. It is the first state-owned bank to receive the approval of the General Reporting Initiative (GRI) and reports its business in accordance with the principles of sustainability; by taking into consideration such tenets as governance, human rights, anti-corruption, social participation and environmental safety standards. The bank also complies with UN Global Compact for Citizenship (Corporate Social Responsibility) standards; and has expended some EGP 760 million in community development during the fiscal year 2019/2020.

The Bank has also recently achieved several international awards in the field of corporate social responsibility, among which was the award for "Best CSR Bank Egypt 2018" and "Best Environment Sustainable Bank Egypt 2019" and from the UK's Global Business Outlook magazine. The Bank also attained the award for "Best CSR Bank Egypt" for the years 2018 and 2019 from International Business magazine; and the awards for "Best Bank CSR Egypt 2019" from British Global Brands magazine; and "Best CSR Bank Egypt" for the years 2019 and 2020 from Global Banking and Finance Review.

Banque Misr continuously strives to drive partnerships between all sectors of Egyptian society through leading by example, in order to contribute to the achievement of sustainable development.