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International Finance Corporation's response regarding its investment in AUB after freezing the assets of Azza Soliman
Author: International Finance Corporation, Published on: 7 August 2017
Thank you for your email. We have been in touch with Ahli United Bank and understand that the assets you mentioned were frozen in accordance with a judicial order. As such, IFC is not in a position to compel the bank to contravene local law and court orders. As an international organization committed to sustainable private sector development, we strive to ensure all of our investments meet our environmental, social and governance policies, where applicable.
IFC’s Performance Standards, like the UNGPs, recognize the responsibility of business to respect human rights while also requiring companies to follow applicable laws. IFC also has an independent accountability mechanism for social and environmental concerns, the Office of the Compliance Advisor Ombudsman (CAO), that serves as a grievance channel for persons impacted by IFC investments.