Deutsche Bank establishes Middle East Foundation

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The announcement came during the opening of Deutsche Bank's 'Bauhaus' art exhibition at the Dubai International Financial Centre (DIFC), hosted by Dr. Josef Ackermann, Chairman of the Management Board and the Group Executive Committee, and His Excellency Dr. Omar Bin Sulaiman, Governor of the DIFC and Vice Chairman of the UAE Central Bank.

The Deutsche Bank Middle East Foundation is the latest initiative to join the family of the Bank's foundations in Asia, Africa and the Americas. In addition, Deutsche Bank has active CSR programs across Europe and the UK.

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.'

HE Dr. Omar Bin Sulaiman said: ' The Deutsche Bank Middle East Foundation is an excellent CSR initiative that can serve as a model for other organisations in the region. DIFC is keen to support CSR initiatives based on our firm belief that adopting CSR principles significantly enhances the sustainability of the business. Making CSR an integral part of corporate policies and strategies makes excellent business sense. We look forward to working with Deutsche Bank to advance CSR in the region.'

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.'

During his speech, Dr. Ackermann pointed out that Deutsche Bank's Bauhaus art exhibition in DIFC marked the first step in the Bank's regional efforts in Corporate Social Responsibility.

The exhibition was inaugurated on the occasion of the DIFC Week in collaboration with DIFC and the Dubai Culture and Arts Authority, and marks the first time Deutsche Bank has publicly exhibited its art collection in the Middle East. Some of these valuable pieces are normally shown only in the Frankfurt head office of the Bank.

The Bauhaus school was established between 1919 and 1933 in Germany and existed as a new form of an art academy. Artistically it emerged from important predecessors in Austria, the Netherlands and Russia following a completely new perception of beauty based on simplicity and functionality leading to a new form of non-figurative art. Almost all famous teachers of the Bauhaus school are included in the exhibition: Max Bill, Lyonel Feininger, Wassily Kandinsky, Paul Klee, Laszlo Moholy-Nagy, Oskar Schlemmer and as representatives of the students' generation Josef Albers and Fritz Winter. The importance of prints as a medium in this context is reflected especially well in the pieces chosen for this exhibition and references to the focus of the Deutsche Bank Collection - works on paper.