• Fayed: Integrating the green aspect in all business sectors has indubitably grown to become an absolute necessity, especially in the banking sector
• The banking sector has a prominent role in facilitating green financing and bolstering green and sustainable practices to combat climate change in line with Egypt’s Vision 2030 and its hosting of COP27

Cairo, September 11, 2022––FABMISR, one of the largest foreign banks operating in Egypt, participated in the “Environment & Development Forum(EDF) 2022... Road to Sharm El Sheikh Climate Change COP27” convened by Arab Water Council in Cairo from September 11-13. The Forum is held under the patronage and participation of the Egyptian Government Presidency of Climate Change COP27, Minister of Foreign Affairs of Egypt H.E Sameh Shoukry, and Dr. Yasmine Fouad, Minister of Environment in the presence of a wide range of local, regional and international partners.

As the official banking sponsor for EDF, FABMISR aims to take the initiative and share its local and global expertise as well as success stories in promoting green practices and sustainability among numerous participants from major public and private institutions. This comes within FABMISR prominent strategy preparing for its participation in the UN Climate Change Conference 2022, COP27 in Sharm El Sheikh.

On the 1^st day of the Forum, Mohamed Abbas Fayed, CEO and Managing Director of FABMISR, expressed his great honor in FABMISR’s participation in the Environment and Development Forum 2022, as one of the leading financial institutions in the banking sector that adopts and embraces green and eco-friendly practices and supports them consistently.

“Integrating the green aspect in all business sectors has indubitably grown to become an absolute necessity, especially in the banking sector for its vital role in bridging the gap in facilitating green bonds and green financing,” Fayed said. “Green financing is the stepping stone for implementing sustainable infrastructure projects ramping-up renewable energy use in the energy mix to achieve Egypt Energy Strategy 2035.

The sector’s role extends to fostering startups, SMEs and corporates to adopt green and sustainable practices to neutralize carbon footprint and combat climate change in line with Egypt’s Vision 2030 and its hosting of COP27 in November,” Fayed added.

Moreover, on the 2^nd day of the Forum, FABMISR is also participating in a panel discussion under the slogan “Climate and Green Finance”, addressing the bank’s commitment towards the transition to a low-carbon economy in addition to highlighting the optimum strategies for achieving sustainable development.        

About FABMISR

FABMISR, a subsidiary of the First Abu Dhabi Bank Group (FAB), is one of the largest foreign banks operating in Egypt. FABMISR’s local network operates through 69 branches, where it provides leading banking products and services that cater to all customer segments; along with achieving the highest value for its stakeholders and employees. Moreover, the bank offers a personalized banking experience to meet the various expectations of its customers from large organizations, SMEs and consumers whilst utilizing its global experience to support stakeholders, entrepreneurs and the local economy.   

FAB is one of the world’s largest and safest financial institutions with an international network spanning over five continents. The bank also offers global relationships, extensive experience, and financial strength to support local, regional, and international companies seeking to manage their businesses at home and abroad.

FAB is rated Aa3, AA- and AA- by Moody's, Standard & Poor's (S&P, and Fitch, respectively), making it the most robust aggregate rating of banks in the Middle East and North Africa region. FAB is also a regional leader in sustainability and is part of the MSCI ESG Leaders Index and FTSE4Good EM.

For more information on FABMISR, please visit www.bankfab.com/en-eg.