November 23, 2008

Deutsche Bank establishes Middle East Foundation

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.

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.”

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 the 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 the 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 1700
e-mail: dana.budeiri@db,com

Deutsche Bank

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

Britta Färber
Phone: +49-69-910-35960

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.