Emirates Bank targets local ambition

Al Tomooh is the Arabic word for ambition, and the bank uses its CSR programme to focus on the economic development and youth empowerment. The program is designed to support small businesses whose total required investment costs do not exceed Dhs2m.

The program is supported by the UAE government in different ways. During the first three years, all governmental services are offered to the entrepreneurs free of charge, while administrative support is presented by the Emirates Bank Group, Dubai Chamber of Commerce and Industry, and Dubai Economic Development Department.

Not only that, the programme has also a memorandum of understanding with the Department of Economic Development in Dubai to sponsor its SME Diploma Program, and another with the Fujairah Chamber of Commerce, Industry and Agriculture (FCCIA) to finance small national businesses in the emirate of Fujairah since 2006. It has also started operating in Sharjah, providing the same services a year earlier with plans to extend coverage into other emirates.

"This is one core ongoing programme within Emirates Bank's overall CSR program, which has already financed a big number of projects. Emirates Bank was aware very early of its role in the development of the UAE economy and was active in launching major business initiatives that contributed to the growth of the national economy," says Suleiman Al Mazroui, General Manager of Corporate Communications and Community Relations in Emirates NBD.

Diversified causes

Emirates Bank also demonstrated a commitment towards CSR through the launch of several initiatives that includes a variety of educational philanthropic, sporting and cultural activities. This includes supporting most of the charities operating in the UAE such as Rashid Pediatric Therapy Centre, the Dubai Autism Centre, Al Noor Centre for Children with special needs, Beit Al Kheir as well as other worthy charities and causes.

Also, public art events have their share in the bank's CSR programme, with the Camel Caravan, Dubai's Celebration of the Arabian Horse, and the Flight of Falcons, each featuring the work of local and international artists receiving financial support from the bank.

Tackling another issue, Emirates Bank is a member of the Emirates Environmental Group involved in a variety of community concerns including the "Clean up the UAE" Campaign.

When asked about the returns the Emirates bank gets from these initiatives and whether the end, any CSR programme seeks clients' loyalty by making the institution look like a "role model", Al Mazrouei said the bank is not giving to people to take again afterwards.

"We have an annual budget deducted from the banks revenues for the sake of this programme and consequently we are not expecting any paycheck in return," Al Mazrouie claims.