Media Releases

November 23, 2008

Deutsche Bank Establishes Middle East Foundation

Dr. Josef Ackermann, Chairman of the Management Board and Group Executive Committee, opening Deutsche Bank’s “Bauhaus. Works from the Deutsche Bank Collection” exhibition, with HE Dr. Omar Bin Suleiman, Governor of the Dubai International Financial Centre (DIFC)
DUBAI, November 23, 2008 – Deutsche Bank today announced the establishment of the “Deutsche Bank Middle East Foundation,” an initiative focused on advancing the Bank’s Corporate Social Responsibility (CSR) program in the region.

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.

For more information on Deutsche Bank’s CSR and art activities please visit:

For further information, please call:

Deutsche Bank MENA
Dana Budeiri
Phone: +971-4-361 1744

Deutsche Bank
Dr. Klaus Winker
Phone: +49-69-910-32249

Britta Färber
Phone: +49-69-910-35960

Amira Abdulla
Director- Regional Public Relations
Dubai International Financial Centre
Tel: +971 4 362 2433

Shaima Al Zarouni
Assistant PR Manager
Dubai International Financial Centre
Tel: +971 4 362 2432

Iman Ahmad
Regional Media Relations Manager
Dubai International Financial Centre
Tel: +971 50 2058021

About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 81,308 employees in 75 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people. Deutsche Bank’s commitment in the MENA region is more than a century old, beginning with the Bank’s financing of the construction of the Baghdad railway. Deutsche Bank opened its first office in Cairo in 1959, followed in the early seventies by an office in Bahrain. In 1999, Deutsche Bank embarked on a regional expansion drive across the GCC which began with the opening of an office in the UAE’s Capital Abu Dhabi in 1999, followed by two offices in Dubai: a representative office inaugurated in 2001 and a branch at the Dubai International Financial Centre (DIFC) in 2005. In April of 2006, Deutsche Bank opened a branch in the Kingdom of Saudi Arabia, in the capital Riyadh. In November of 2007, Deutsche Bank opened its branch in the Qatar Financial Centre in Doha.
Deutsche Bank AG in the MENA region offers the full range of investment banking, asset management; private wealth management; and global transaction banking services. Deutsche Bank AG is well recognized for its leading role on some of the most prestigious regional transactions. The Bank is the recipient of several regional and international awards in recognition for its achievements in investment banking and Islamic finance in the region.

About the DIFC:
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services. In just four years, over 750 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards. (  


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