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FEB Assumes a Leading Role in Assisting Egyptian Society in the Domains of Health and Sports
02/02/2021
FEB Provides EGP 500 M in Support of Vaccination Efforts in Collaboration with Tahya Misr Fund and in Coordination with National Bank of Egypt, Commercial International Bank, Qatar National Bank and Arab African International Bank

 
The Federation of Egyptian Banks – under the Chairmanship of Mr. Mohamed El-Etreby – provided a financial endorsement valued EGP 500 million to the efforts seeking the vaccination of most deserving segments, in collaboration with Tahya Misr Fund and the participation of FEB members. The most notable contributors were the National Bank of Egypt, Commercial International Bank, Qatar National Bank and Arab African International Bank; in a move that complements FEB’s pivotal role in supporting state efforts and rolling-out the COVID-19 vaccine under the auspices of the Central Bank of Egypt.

 
Ever since COVID-19 was declared a global pandemic, FEB had prioritized the health and safety of the personnel and customers of the banking industry, owing to its contribution to social responsibility and commitment to initiatives seeking to support Egyptian society in all domains. This is especially in light of this critical time and amidst the challenges of the pandemic, which warrant the collaboration of all parties to combat its economic, social and health repercussions. Worth noting in this regard is the contribution made by the banking sector to a donations campaign targeting the most vulnerable segments – amounting to EGP 750 million – together with integrating and coordinating the contributions made by all social institutions to mitigate the impacts of this crisis.
In appreciation of FEB in this respect, the Union of Arab Banks had awarded FEB the outstanding performance award for its handling of the COVID-19 crisis for 2020, based on a set of stringent global standards, as well as the opinion of a select panel of experts.

 
The participation of the aforementioned banks in efforts seeking to rollout the COVID-19 vaccine to the most vulnerable sectors comes in light of their pioneering role in the field of corporate social responsibility, which is considered a tenet of these banks and a channel through which they have consistently supported and assisted Egyptian society. This is by partaking in various social activities and initiatives, together with seeking what is best for communities from a health, educational, social solidarity and communal development perspective. The banks have consistently contributed to projects involving the development of the most deserving Egyptian villages, via small and micro enterprises, to provide employment opportunities to youths and female breadwinners and to develop slum areas. This is in collaboration with civil society institutions.

 
The banks are constantly encouraging partnerships between various sectors – whether governmental or private – in order to actively and effectively contribute to developing Egyptian society.