Germany’s Deutsche Bank, one of the largest banks in the world, recently announced the establishment of the “Deutsche Bank Middle East Foundation,” an initiative focused on advancing the Bank’s Corporate Social Responsibility (CSR) program in the region.
Dr. Josef Ackermann, Chairman of the Management Board and the Group Executive Committee, said: “Our decision to establish the Deutsche Bank Middle East Foundation stems from our deep-seated belief in the necessity of companies contributing to the societies in which they operate. Our commitment today reflects a strong and long-standing commitment to the Middle East and its people, and our desire to positively contribute to shaping its future, and in turn, our own.”
The Deutsche Bank Middle East Foundation will focus on funding investments in education, community development, sustainability, and volunteering in the Middle East North Africa region.
Henry Azzam, Deutsche Bank’s CEO in the Middle East and North Africa, said “We are very pleased to establish the Deutsche Bank Middle East Foundation as a stepping stone for an active regional CSR program. Our aim goes beyond a mere financial commitment; we want to build social capital by creating opportunities, fostering talent and ensuring long-term viability in the region.”
This announcement comes at a time when the Arab-Israeli conflict is once again in the spotlight and it exemplifies a need for corporations that operate in sensitive regions to go above and beyond in their CSR efforts. We applaud Deutsche Bank’s initiative and we look forward to hearing details about the Deutsche Bank Middle East Foundation.
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Umer, Maria Valentina 02.25.09 at 11:34 am
Hearty congratulations to Deutsche Bank for the Middle East Foundation creation and its laudable goals. It was high time the MENA region got the CSR-based attention which it now seems to be getting, also on the part of educational istitutions in the West. As a member of the Arab International Women´s Forum in London, UK, and as a veteran in international higher education with specialization in Business Administration for international students, I am developing an educational program for MENA region women. I hope the DB Foundation will be influencial in supporting such initiatives: to meeting DB´s diversity goals, as well as to recruit capable staff for DB´s operations in the MENA region.
With much support,
Maria Valentina Umer
Professor of Business Administration
Heidelberg, Germany