Ayeyarwady Bank’s Commitment to the Community

Ayeyarwady Bank commits to making the United Nations Global Compact’s Ten Principles part of its strategies and practices, focusing on fulfilling corporate social responsibility toward the communities it serves.

In a rapidly-changing world with high population growth, it is apparent that the impact of our activities and actions are being felt in more ways than it was before. The implications of this change for the business arena are indeed overwhelming, as there are needs and expectations of society that businesses may have to consider and respond to. Attitudes of businesses and their relationship with society are therefore shaped by society’s diverse needs.

Ever since its inception in August 2010, Ayeyarwady Bank has recognized that the mere existence of the organization and the operations it engages in impact on the communities at large. With its mission to be a leading bank in the country in the long-run, the Bank also realizes that the communities plays an important role for the Bank in achieving its sustainable growth. Hence, one of the priorities for Ayeyarwady Bank is its commitment to be a positive force in the communities in which it operates by contributing to the people and their communities as a whole. As the Bank’s slogan “Your Trusted Partner” states, the Bank endeavors to be a trusted partner to the people and the communities for their banking and financial needs as well as to be a partner that those communities can reach out to.

Ayeyarwady Bank invests a significant amount of time and funds into various social initiatives that the Bank’s workforce actively participates in. In a country such as Myanmar, which has spent many years in isolation, there are still numerous areas left underdeveloped. Therefore, the focus of Ayeyarwady Bank for the past two years has been on developing and improving the healthcare sector in the country. As the saying goes, “health is wealth,” and only the healthy will be able to work hard and contribute to society and help the economy to grow.

Keeping the need to contribute to society in mind, Ayeyarwady Bank has created a foundation that aims to improve the social and living standards in the country – Ayeyarwady Foundation will represent all of its CSR activities. Every year since its inception in 2010, Ayeyarwady Bank has contributed to society through the Foundation, which aims to support the development of the country in the education, healthcare, social, sport, as well as religious sectors, with a specific focus on the healthcare sector.

After just two years in operation, in August 2012 Ayeyarwady Bank became a participant of the United Nations Global Compact (UNGC) initiative. This was a corporate milestone for Ayeyarwady Bank, which is the first bank in Myanmar to commit to making the Ten Principles of the Global Compact part of its business operations and strategies. Incorporating the Ten Principles into the Bank’s business strategies and operations required redesigning corporate policies as well as restructuring.

Ayeyarwady Bank’s first and foremost activity for helping to develop the healthcare sector started with the donation of a 550-bed children’s hospital in Yankin Township, Yangon, Myanmar. Ayeyarwady Bank, along with its parent company Max Myanmar Group of Companies, contributed to the donation of the Yankin Children’s Hospital. Complete restoration work was done on a former government building, which was converted into a hospital with modern facilities and all the required medical equipment. The completed hospital was then handed over to the relevant authorities in March 2011.

Ayeyarwady Bank’s contribution to the Yankin Children’s Hospital was not just a monetary gesture. The Bank’s involvement will continue through its role in handling the regular maintenance and upkeep of the hospital: The Bank’s workforce has been actively engaged in weekly voluntary services at the hospital to help with the maintenance and upkeep of the hospital compound.

In addition, the Chairman, the Board of Directors, and the Bank’s management team have also paid occasional visits to the hospital and its residents to ensure that equipment is in working order and to provide any necessary assistance. Plans are also under way with a number of CSR activities to celebrate the second anniversary of the Yankin Children’s Hospital in March 2013..

The country’s healthcare sector needs much help in terms of premises, facilities, equipment, etc. To play a part in contributing to the sector, Ayeyarwady Bank donated a total of six ambulances on different occasions – two to the Yankin Children’s Hospital and four to the Ayeyarwady region. These activities were all sponsored by the Ayeyarwady Foundation.

“Give life, give blood” – everyone at Ayeyarwady Bank strongly believes and practices this. Many times, lives are lost because there is not enough blood, or because the required blood type is not available. Ayeyarwady Bank employees help those in need and spare no expense, even if it means giving their own blood as proud donors.

In March 2011, when Ayeyarwady Bank and the Max Myanmar Group of Companies jointly donated the Yankin Children’s Hospital through the Ayeyarwady Foundation, the Bank initiated its very first blood donation drive. The overwhelming response proved further the spirit of employees at Ayeyarwady Bank – we are ready to help.

In cooperation with the National Blood Bank, the Ayeyarwady Bank organized its second blood donation drive in early 2013 at the very hospital they had donated. It was also on this special occasion that there was an urgent need for A-type blood for an emergency operation for a child in one of the wards. As the A-type blood donor at the event recalled: “It was indeed a really memorable moment for me, to know that my blood is giving life to a teeny weeny little girl who was fighting for her life.” The event has proved to be even more successful as the size of the workforce has grown, as has the number of caring and giving hearts. 

This successful event has spurred Ayeyarwady Bank to continue to focus on more such CSR activities to give to those in need. Ayeyarwady Bank has since planned to carry out regular blood donation drives on a biannual basis to help fulfill its corporate social responsibilities.

After its contribution in the healthcare sector, Ayeyarwady Bank began working toward contributing to society in times of need. Having witnessed the aftermath of Cyclone Nargis, which hit the country in 2008, Ayeyarwady Bank began placing great emphasis on extending help to those in need – the people affected by the aftermath of natural disasters

Ranked first as the “most at risk” in Asia Pacific, according to the UN Risk Model, Myanmar is exposed to various natural disasters such as floods, cyclones, etc. In October 2011, heavy floods hit central Myanmar, in Magwe Division, destroying more than 3,500 homes and 5,400 acres of crops. More than 30,000 people were affected. In response to this unfortunate event, Ayeyarwady Bank stepped in to provide for the victims of the flood – one of the Bank’s CSR activities in looking after the social welfare of people. Ayeyarwady Bank offered cash donations to the victims of the flood while they were in their temporary shelters.

In August 2012, Myanmar was hit yet again by floods across different states. The floods displaced more than 80,000 people, affecting a total of more than 287,000 people. Ayeyarwady region was the worst hit, affecting and displacing about 48,000 people and destroying more than 136,000 acres of farmland, houses, roads, and bridges. Representing the Bank, Ayeyarwady Foundation generously offered donations in cash and in-kind for the affected victims.

Ayeyarwady Bank is aware that there are many people across the country in need of help – some of which include the victims of internal conflicts within the country, thus extending our CSR further. It is apparent that Myanmar, a country made up of many ethnic groups, is still experiencing internal conflicts, such as those in the states of Kachin and Rakhine. Reaching out to the victims of such conflicts naturally became one of our priorities.

• The conflict in Rakhine State
  The Rakhine conflicts and riots – caused by clashes between ethnic Rakhine and the Rohingya – has displaced more than 100,000 people since it started in June 2012. Buildings were set ablaze during the riots, burning down more than 4,000 houses. Once again representing the Bank, Ayeyarwady Foundation stepped in to help the affected victims. Management personnel from Ayeyarwady Bank and the volunteers from Ayeyarwady Foundation went to the temporary displacement camps to offer victims donations in cash and in-kind, such as medical supplies and dried food stuffs.
  
  
• The Kachin conflict
  Many civilians in the Kachin region are also affected by the conflicts among the ethnic groups. The fighting and shootings have forced these civilians to flee from their homes and take up accommodations in the temporary displacement shelters set up by many humanitarian groups across the state. In an attempt to reach out, Ayeyarwady Foundation, once again representing the Bank for its CSR activities, went to a number of these shelters in December 2012 to offer much needed food supplies at the camps. The glimpses of hope in people’s eyes at the sight of the donors showed just how much support they needed.