MGIC enables UMB and other constituent institutions in the University System of Maryland to mitigate institutional risk, comply with applicable laws and regulations, and reflect sound business and partnership principles, in alignment with UMB’s Core Values and strategic priorities and advancement of its global mission to improve the human condition.
When required for the implementation of sponsor awards, MGIC has registered as a legal business in certain countries to permit a robust, long-term physical presence and operational capacity, including large teams of local personnel, lease or purchase of facility assets and capital equipment, establishment of local bank accounts, and engagement of ongoing business contracts. MGIC has previously operated as a registered business in Botswana, Haiti, Kenya, Malawi, Mozambique, Nigeria, Rwanda, Tanzania, Uganda, and Zambia. MGIC has also registered in the Democratic Republic of the Congo and Myanmar. MGIC currently has no active country office operations.
When long-term physical presence in a foreign country is not required, MGIC is utilized on a transactional basis to acquire and pay for goods and services through its U.S. bank accounts and with the contractual authority of the U.S. based Board of Directors.
International Operations administers MGIC on behalf of UMB and activates the use of MGIC when appropriate for any department or unit to safely and effectively implement international activities.