CBE’s patronage is pivotal in empowering our graduates to stay at forefront of knowledge-based economy: Mahmoud Abdrabou
In line with the Central Bank of Egypt’s (CBE) proactive commitment to development, sustainable corporate social responsibility, and societal betterment, the CBE continues its productive partnership with Zewail City of Science, Technology, and Innovation. The collaboration has led to discussions on the CBE’s notable support for exceptional students and the provision of scholarships at Zewail City.
In 2021, the Central Bank of Egypt sanctioned a 5-year educational scholarship program for top-performing students at Zewail City, allocating a budget of approximately EGP 45m. This initiative aligns with the directives of H.E. President Abdel Fattah Al-Sisi to bolster outstanding students and high achievers.
Ghada Tawfik, the Governor’s Advisor for Corporate Social Responsibility, highlighted, “The Central Bank of Egypt is dedicated to steering the banking sector towards endorsing corporate social responsibility initiatives and reinforcing actions that contribute to the sustainable development goals and Egypt’s Vision 2030. We take pride in our successful collaboration with Zewail City, which exemplifies ongoing development, sustainable corporate social responsibility, and the effective synergy between governmental entities to uplift society.”
Mahmoud Abdrabou, the Acting Executive President of Zewail City, expressed his gratitude, stating, “We are thrilled by the banking sector’s backing, represented by the CBE, which has provided scholarships to our outstanding Class of 2021 students for the third year running. Our heartfelt thanks go to the Central Bank of Egypt for its steadfast support and efforts, which bolster our capacity to nurture talent that keeps pace with the knowledge-based economy, addressing key areas of interest for the African continent and the Arab region.”
In this context, several students from the Faculties of Science and Engineering, along with alumni entrepreneurs, shared their success stories. The Central Bank of Egypt was also honored with the Zewail City trophy, recognizing its significant contribution to the City’s educational framework.
Importantly, the partnership between the Central Bank of Egypt and Zewail City opens vast opportunities for advancing the skills of students and alumni through the “FinYology” initiative, launched by the CBE in 2020. This initiative aims to prepare students for the FinTech industry and supports alumni entrepreneurs through the “NilePreneurs” initiative, introduced by the CBE in 2019. In collaboration with the banking sector, universities, and various local and international organizations, “NilePreneurs” seeks to offer technical, non-financial, and advisory assistance to entrepreneurs and owners of startups, as well as micro, small, and medium enterprises.
The alliance with Zewail City reflects the Central Bank of Egypt’s prioritization of education as a cornerstone of its ongoing efforts to foster development projects and achieve sustainable corporate social responsibility. It is noteworthy that the CBE has adopted a sustainable community strategy that involves coordinating with all banks to organize developmental community activities within the sector and monitoring the sector’s contributions to ensure they align with the intended sustainable objectives.