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.
