Stakeholder Engagement
Engaging with our stakeholders and
creating empowering alliances
As part of our commitment to sustainability, it is essential that we form positive relationships with our stakeholders and promote constant engagement.
We recognise that by working in partnership we can achieve greater results and impact on issues of importance. These partnerships and alliances address issues such as social and community, the environment and the economy in the UAE, the countries where we have a presence and in locations where we believe we can make a difference.
We both support and participate in national councils and committees which include:
Alliances and Coalitions
By engaging with our stakeholders, we can better understand and act on their material concerns and requirements as they align to our core business.
We form alliances and coalitions with stakeholders who can help us achieve positive social and environmental results.
Stakeholder Materiality Assessment Overview
- Responsible lending and investing
- Governance, business ethics and compliance
- Business continuity
- Employee wellbeing
- Socially responsible procurement
- Financial inclusion and accessibility
- Systemic risk management
- Talent attraction and retention
- Learning and development
- Digitalisation
- Customer privacy and data security
- Diversity and inclusion
- Community investment and socio-economic development
- Emiratisation
- Customer experience
- Disruptive innovation
- Direct environmental impacts of operations
- Anti-money laundering and anti-corruption
- Financial performance
Summary & Findings
The influence of COVID 19 is evident as a result of the increase in topics such as:
- Employee Wellbeing
- Digitalisation
- Diversity & Inclusion
Responsible lending and investing has gained prominence thanks to an increased awareness about its importance and the launch of FAB’s sustainable finance products.
Anti money laundering and corruption had the biggest drop in terms of level of importance, some reasons may be:
- The topic was not commonly reported in other banks, likely as it may fall under the wider groups of 'conduct' and 'governance'
- Stakeholders may feel FAB is already well versed in this topic and didn't regard it as important as some of the others
FAB conducts materiality assessments, in accordance with the principles developed by the Global Reporting Index (GRI). The objective of this exercise is to determine which environmental, social and governance (ESG) topics are most material to FAB. Results of our materiality assessments can be found in our annual ESG Reports.
Community Investment & Socio-Economic Development
Emirates Foundation
Emirates Foundation is a philanthropic foundation set up by the government of the emirate of Abu Dhabi to facilitate public-private funded initiatives to improve the welfare of people across the UAE.
Dubai Cares
Dubai Cares is a UAE-based global philanthropic organization that designs programmes to reduce and remove obstacles that prevent children and youth in developing countries from attaining quality education.
SOS – CHILDREN’S VILLAGES
SOS Children’s Villages is an independent, non-governmental, non-profit, international development company that provides humanitarian and developmental assistance to children in need to protect their rights around the world.
Emirates Down Syndrome Association
Emirates Down Syndrome Association is a non-profit that supports people with Down Syndrome with services such as education and wellbeing.
Dubai Courts
Dubai Courts is a government organisation with the mission of realising effective justice.
Emirates Red Crescent
The Emirates Red Crescent is a humanitarian organisation that supports government official authorities.
UNHCR
United Nations High Commissioner for Refugees (UNHCR) is an agency mandated to protect refugees and assist in their voluntary repatriation, local integration or resettlement to a third country.
FAB Scholars: Paris II University of Law
We provided AED 3 Million for 30 scholarships to be awarded to Emirati students to study in their Bachelor of Laws LLB programme at the Paris II University of Law for the calendar year of 2020/2.