5/2/2019 12:00 AM
Commercial International Bank (CIB), Egypt’s largest and leading private sector bank, announced its inclusion in the 2019 Bloomberg Gender Equality Index (GEI). Of the 230 companies selected, CIB is the first Arab and African company to be named to the index. The Bloomberg GEI is the world’s only comprehensive investment-quality data source on gender equality. This year’s index, which is double the size of the 2018 index, encompasses 36 countries and 10 sectors. Collectively, the companies included on the index have a combined market capitalization of US$9 trillion and employ over 15 million people, 7 million of whom are women.
CIB Chairman Hisham Ezz Al-Arab stated, “We are pleased to be recognized by a prestigious international publication for our longstanding commitment to gender equality in our daily operations and at every level of management, including our board. Sustainability is integral to our business practices, policies, culture, and ultimately our consistent financial performance. I am very proud of every member of the CIB staff, all of whom have worked hard to cultivate a diverse talent base as we strive to represent our communities and broad customer base, and to be the best operator in our industry.”
“Greater transparency around workplace inclusion helps firms demonstrate accountability to their employees, investors, and communities,” said Peter T. Grauer, Chairman of Bloomberg. “Bloomberg’s standardized gender reporting framework serves as an underlying tool to guide disclosure, allowing companies to measure and manage gender equality across all their operations and businesses. It also provides these leading organizations an opportunity to inspire each other and develop best practices.”
“As the investment community places greater value on gender equality, the Bloomberg GEI identifies the companies that excel at driving inclusion,” added Kiersten Barnet, Manager of the Bloomberg GEI. “We are encouraged by the growth of the index within the past year, which demonstrates that across the world, more organizations are prioritizing transparency and equality in the workplace.”