EGX Chairman, Dr. Islam Azzam, inaugurated the trading session ringing-the-bell celebrating the listed bank, Commercial International Bank (CIB), named as the best bank for sustainable finance in Africa award for year 2025. This emphasizes commitment of the Egyptian banking and non-banking sectors to implementing the highest standards of sustainability and governance.
Ringing the bell ceremony was in the presence of: Dr. Hussein Eissa, Deputy Prime Minister for Economic Affairs; Mr. Hassan Abdallah, Governor of The Central Bank of Egypt; Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade; Dr. Ahmed Rostom, Minister of Planning and Economic Development; Mr. Mohamed Sabry, Vice Chairman of The Egyptian Exchange; Mr. Hesham Ezz Elarab, CEO and Board member of CIB; Mr. Mohamed Aboumoussa, Assistant Governor of The Central Bank of Egypt; Mr. Amr El Ganainy, Deputy CEO and Executive Director of CIB; in addition to leaders of CIB and representative from both the banking and non-banking sectors.
During his speech, Dr. Hussein Eissa, Deputy Prime Minister for Economic Affairs, clarified that the state supports sustainability efforts. He mentioned that it’s a pride and honor that a national institution got an international award, adding that CIB represents a prominent success model in the Egyptian banking sector. He highlighted that over many years, CIB has been one of the most important listed companies as well as one of the most influential in the market.
He pointed out that the banking sector constitutes a large proportion of The Egyptian Exchange’s market capitalization, with CIB as one of the key pillars of the market and one of the top ten companies in trading.
He emphasized that success of the bank in Sustainable Finance reflects the progress that Egypt achieved in the field of Green Economy and sustainable development, pointing out that the state focuses on this file as part of its strategy of economic development.
Dr. Mohamed Farid, Minister of Investment and Foreign Trade, highlighted the importance of sustainability and governance journey in Egypt. He pointed out that it’s a gradual cumulative process that began since mid of the first decade of 2000.
Dr. Farid also pointed out the prominent historic achievements in this field, including issuance of the first governance guideline by The Egyptian Institute of Directors, based on the standards of The Organization for Economic Cooperation and Development (OECD). Besides decisions nos. (107) and (108) issued by The Financial Regulatory Authority concerning sustainability reports and environmental risks.
The minister emphasized that issuing regulations alone is not sufficient, as quality of their implementation on ground should be monitored. He clarified that international investors closely follow these reports to assess commitment of companies to governance and sustainability standards.
He pointed out that a future study is ongoing to expand the scope of disclosure, to include the large unlisted companies, activating carbon market to enhance environmental investments. He emphasized the role of private sector in implementing policies and legislations on ground.
He also expressed his appreciation of the efforts exerted by CIB and other financial institutions, wishing them more success and progress in the coming phase.
Dr. Islam Azzam, EGX Chairman, confirmed that this honor comes amidst strong market performance, as the main index EGX30 surpassed the level of 51000 points, with average daily trading values about EGP6.9 billion in some sessions. During the period from fist of January to mid-February 2026, the trading values of the banking sector recorded approximately EGP24.4 billion, of which EGP17.6 billion on the shares of CIB-Egypt with a percentage of 72% approximately.
He added that CIB winning this award reflects genuine commitment to environmental, social and governance (ESG) standards, which became a fundamental pillar in attracting long term foreign investments, enhancing trust and stability in the Egyptian Financial market.
From his side, Mr. Ezz Elarab emphasized that the philosophy of the bank is based on comprehensive vision, not only limited to profitability, but also extended to creating sustainable value for all including: clients, shareholders and employees, in addition to society as a whole, being key elements in the sustainability system.
He pointed out that the role of the bank is not limited to mobilizing savings and providing necessity financing for companies to support their growth, but also extended to creating positive and sustainable impact in society. He stressed that sustainability should stem from firm conviction and genuine belief, rather than being practiced as obligatory commitment.
Finally, EGX Chairman announced the launch of the new Sustainability Index next May, in collaboration with Dow Jones Indices and S&P. He emphasized that EGX will continue its pivotal role in supporting sustainable finance efforts, as well as development of regulatory frameworks and financial instruments.
