ADIB joins ‘Chapter Zero Egypt' to advance climate governance, sustainability goals
Abu Dhabi Islamic Bank–Egypt (ADIB Egypt) has officially joined the 'Chapter Zero Egypt' initiative, a strategic step that underscores the bank's strong commitment to sustainability and climate governance. This move reflects ADIB Egypt's alignment with global environmental, social, and governance (ESG) standards and further enhances its role in promoting sustainable finance in Egypt's banking sector.
Membership in 'Chapter Zero Egypt' grants the bank access to a wide network of climate governance experts, supporting its efforts to deepen the integration of sustainability into its corporate strategy and operations. The initiative is part of a broader push to foster responsible corporate practices and advance Egypt's national agenda for sustainable development.
'We believe it is our responsibility to help shape a green and sustainable future for the coming generations,' said Mohamed Ali, CEO and Managing Director of ADIB Egypt. 'Our philosophy rests on the idea that financial success and sustainability go hand in hand. That's why we're constantly innovating to deliver simple, convenient banking solutions that reflect the highest sustainability standards and contribute to a better tomorrow.'
He added: 'Through our participation in 'Chapter Zero Egypt,' we will continue to uphold international standards, adopt environmentally responsible practices, and support our clients in making a more inclusive and just transition toward sustainability.'
In recent years, ADIB Egypt has made substantial progress in embedding ESG principles across its operations. The bank has introduced energy-efficient practices in its branches, launched green financing products, and worked to systematically reduce its carbon footprint. It has also aligned its operations with the goals of the Paris Climate Agreement and adopted environmentally responsible policies in areas such as procurement, waste management, and resource efficiency.
The bank's ongoing efforts are supported by regular carbon footprint reporting, ensuring transparency and accountability in its sustainability performance. These practices not only reduce the environmental impact of its own operations but also empower clients to adopt sustainable business models and lower their emissions.
By integrating sustainability into all aspects of its business, ADIB Egypt continues to position itself as a leader in responsible finance. The bank acknowledges the financial sector's pivotal role in addressing climate challenges and is committed to driving the transition toward a low-carbon, inclusive economy—both through its internal practices and its support for clients on their sustainability journeys.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Egypt Today
10 hours ago
- Egypt Today
Egypt's Islamic Banking sector hits LE 1.079trn mark amid robust annual growth
CAIRO – June 2, 2025 — Egypt's Islamic banking industry has recorded significant progress, with the total volume of sharia-compliant financial activities climbing to LE 1.079 trillion by the end of March 2025. The Egyptian Islamic Finance Association (EIFA) reports this marks a LE 379 billion rise from the previous year—a sharp 54 percent growth. This surge is largely attributed to substantial increases in both Islamic deposits and financing. Sharia-compliant deposits climbed to LE 784 billion, reflecting a year-on-year increase of LE 273 billion. These funds now account for 7.4 percent of total deposits across the national banking system. The continued growth highlights the expanding role of Islamic finance in Egypt's broader financial landscape, with more consumers and institutions turning toward banking models that comply with Islamic law. Similarly, Islamic financing reached LE 886 billion, making up 6 percent of total loans issued nationwide. This reflects a year-on-year increase of LE 310 billion—also a 54 percent rise. Currently, 15 banks are authorized by the Central Bank of Egypt (CBE) to provide Islamic banking services. Among them, four operate as fully Islamic institutions: Abu Dhabi Islamic Bank (ADIB), Faisal Islamic Bank of Egypt, Al Baraka Bank, and Kuwait Finance House. The remaining banks offer Islamic banking services through dedicated windows alongside conventional offerings. The expansion of the sector is also evident in branch network growth. The number of Islamic banking branches across the country reached 320 by March 2025, increasing by 56 branches from the previous year. This growth was notably driven by the network expansion of Kuwait Finance House. Combined, these branches now cater to nearly 4 million customers. EIFA also highlighted that some conventional banks have integrated Islamic financial products throughout their entire branch networks. Nasser Social Bank continues to offer sharia-compliant services as part of its operations as well. In terms of market share, Abu Dhabi Islamic Bank–Egypt leads the Islamic banking landscape with a business volume of LE 282 billion, securing a 26.1 percent share. Faisal Islamic Bank of Egypt follows closely with LE 247 billion (22.9 percent). Banque Misr's Islamic windows ranked third at LE 209 billion (19.4 percent), while Al Baraka Bank and The United Bank took fourth and fifth places with LE 134 billion (12.4 percent) and LE 16 billion (1.5 percent), respectively. The report underscores the growing appetite for Islamic financial services in Egypt, supported by regulatory backing and increased public interest in sharia-compliant banking solutions.
Daily News Egypt
a day ago
- Daily News Egypt
Islamic banking in Egypt surges to EGP 1.08trn in March 2025
The volume of Islamic banking in Egypt reached EGP 1.079trn in March 2025, marking a year-on-year increase of EGP 379bn and a robust growth rate of 54%, according to the latest report from the Egyptian Islamic Finance Association (EIFA). Sharia-compliant deposits rose to EGP 784bn, accounting for 7.4% of total banking sector deposits. This reflects a year-on-year increase of EGP 273bn. Meanwhile, Islamic financing climbed to EGP 886bn, making up 6% of total loans issued in Egypt's banking sector, with an annual increase of EGP 310bn—also a 54% rise. EIFA noted that 15 banks in Egypt are licensed by the Central Bank of Egypt (CBE) to offer Islamic banking services, including four fully fledged Islamic banks: Abu Dhabi Islamic Bank (ADIB), Faisal Islamic Bank of Egypt, Al Baraka Bank, and Kuwait Finance House. The remaining 11 institutions operate Islamic banking windows alongside conventional services. The number of Islamic banking branches grew to 320 in March 2025—an increase of 56 branches year-on-year—bolstered by the expansion of Kuwait Finance House's network. These branches collectively serve nearly 4 million customers. EIFA also pointed out that some conventional banks offering Islamic products do so through their entire branch network, and Nasser Social Bank also provides sharia-compliant financial services. Abu Dhabi Islamic Bank–Egypt retained its position as market leader, with total business volume reaching EGP 282bn, capturing 26.1% of the Islamic banking market. Faisal Islamic Bank of Egypt ranked second with EGP 247bn and a 22.9% share. Banque Misr's Islamic banking windows followed in third place at EGP 209bn (19.4%), while Al Baraka Bank held fourth position with EGP 134bn (12.4%). The United Bank came in fifth with EGP 16bn, accounting for a 1.5% market share.
Egypt Today
2 days ago
- Egypt Today
Egypt's FM, US Senator Tim Sheehy discuss bilateral ties, war in Gaza
CAIRO – 1 June 2025: Egyptian Foreign Minister Badr Abdelatty received Republican Senator Tim Sheehy, a member of the U.S. Senate Armed Services Committee, during his visit to Egypt, on Saturday. The meeting focused on ways to enhance the strategic partnership between Egypt and the United States, and on expanding cooperation in the political, economic, military, and technical fields. Minister Abdelatty expressed his aspiration for deeper coordination with the U.S. administration and both houses of US Congress in support of advancing bilateral relations that serve the mutual interests of both countries. He also emphasized Egypt's commitment to strengthening economic, trade, and investment cooperation, highlighting the outcomes of the Egyptian-American Economic Forum, held in Cairo on May 25–26, which saw the participation of leading American companies. Minister Abdelatty reviewed Egypt's ongoing efforts to promote security and stability in the Middle East, stressing that the Egypt-U.S. partnership remains a cornerstone in supporting regional peace and stability. The two sides exchanged views on a range of regional developments, including the situation in Gaza, where Minister Abdelatty reiterated Egypt's ongoing coordination with the United States and Qatar to achieve a ceasefire and facilitate the delivery of humanitarian aid to the Palestinian people. He firmly reiterated Egypt's rejection of any attempts to forcibly displace Palestinians from their land. The meeting also touched on the positive impact of recent de-escalation efforts in the Red Sea on maritime security and international trade routes, underscoring the importance of continued cooperation to preserve regional stability.
