KBZ Bank Earns ESGBusiness Award for commitment to gender equality and women's empowerment
The largest privately-owned bank leads by example with impressive initiative.
Kanbawza Bank, or KBZ Bank, Myanmar's leading financial institution, is proud to announce its latest achievement in Diversity, Equity, and Inclusion (DE&I). The bank has been honoured with the esteemed ESGBusiness Awards 2023 under the category Gender Equality and Women Empowerment Award - Myanmar. This recognition underscores KBZ Bank's commitment to fostering gender equality and women's empowerment within its organisation.
The ESGBusiness Awards is a well-respected platform that acknowledges and celebrates the remarkable efforts of organisations committed to social and environmental sustainability, diversity, and inclusion. This year, KBZ Bank's promotion of gender equality and women's empowerment in the banking industry stood out as an exemplary model for the entire sector.
KBZ Bank's vision in this initiative is the belief that every individual, regardless of their gender, should have equal opportunities to thrive within the organisation. With a diverse workforce of over 12,000 talented employees, the bank emphasises providing equal opportunity, access, and pay from its Equal Employment Opportunity Policy.
What sets the organisation apart is its impressive statistics that reflect this commitment. A remarkable 57% of the bank's workforce and 64% of KBZ Bank's leadership team comprises accomplished women who lead by example and inspire a culture of innovation and progress. Additionally, they started the "Mothers' Corners" as much more than just a physical space. This supportive environment allows new mothers to continue their careers without compromising parental roles.
To further develop an inclusive workplace, it is in their Diversity and Inclusion Policy that their employees must create and maintain an environment that puts respect and teamwork over anything else. Moreover, they ensure that there are no unacceptable behaviours in the workplace and there is no discrimination based on race, religion, gender, gender identity or expression, sexual orientation, disability status, age, marital, parental, and socioeconomic status, or any other protected characteristics.
In conjunction with these principles, the company has implemented a Breastfeeding Time-off Policy, recognising the significance of fostering a supportive environment for new parents. This policy grants dedicated time off for employees who are breastfeeding to fulfil their parenting responsibilities. Additionally, the company upholds robust anti-harassment and non-discrimination Policy, reinforcing its commitment to cultivating a workplace free from any form of harassment or discrimination. These policies collectively emphasise the organisation's holistic approach to creating a workplace that prioritises diversity, inclusion, and the overall well-being of its employees.
At KBZ Bank, female leaders such as Ms Thida Aye Mon, Ms Ei Thandar Hlaing, Ms Moet Moet Ei Aung, and Ms Yamin Shwe Yee exemplify their commitment to an inclusive workplace, promoting collaboration, innovation, and support for working mothers. Together, they embody a vision where gender is no barrier to success. On top of the policies, KBZ Early Childhood Daycare Center offers a secure and nurturing environment for working parents to entrust their children between 6 months and 3 years old whilst they focus on their professional responsibilities.
To prove their promise, the bank has undergone comprehensive assessments to gauge its efforts. These evaluations serve as a tangible measurement of the bank's initiatives to promote gender equality. The GEARS assessment plays an essential role in this commitment, enabling it to track its progress and refine its strategies.
KBZ Bank's commitment to gender equality does not stop at assessments. The bank has partnered with organisations like the Business Coalition for Gender Equality (BCGE) and actively participates in initiatives like the Women's Forum for ASEAN meetings. These actions underscore KBZ Bank's unwavering dedication to advancing gender equity in the business sector, both internally and externally.
Despite being the largest privately-owned bank in Myanmar, KBZ Bank's remarkable accomplishments in fostering gender equality and women's empowerment demonstrate that its size and stature do not diminish its commitment to this cause.
The ESGBusiness Awards is presented by ESGBusiness. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for your company's outstanding commitment and achievement in environmental, social, and governance (ESG) practices, please contact Julie Anne Nuñez at [email protected].
