Alaa Farouk takes charge as Minister of Agriculture

Daily News Egypt
2 Min Read

Alaa Farouk has taken on the role of Minister of Agriculture, succeeding El-Sayed El-Kosayer. Prior to this appointment, Farouk served as the Chairperson of the Agricultural Bank of Egypt (ABE) since February 2020. His contributions were pivotal in advancing government-led agricultural initiatives and achieving significant progress in rural areas across the country.

Farouk holds a Bachelor’s degree in Business and Commerce from Ain Shams University. With over 30 years of robust banking experience, he transformed the Agricultural Bank from a specialized institution into a comprehensive, full-service bank catering to all sectors. His efforts not only established the bank as a cornerstone of financial inclusion in Egypt but also facilitated substantial growth in the agricultural sector.

During Farouk’s tenure, the Agricultural Bank of Egypt witnessed notable improvements in performance metrics, fulfilling its mandate to support the agricultural sector and promote sustainable rural development.

Before joining ABE, Farouk had an extensive career at the National Bank of Egypt. He began in 2008 as the Regional Manager for Alexandria and later held various positions in Cairo, including Deputy Head of Branches, Head of Products and Retail Banking, and ultimately, Chief Executive Officer for Banking and Branches.

Additionally, Farouk worked with several private banks, including Barclays Bank, one of the largest foreign banks operating in Egypt until its exit from the market in 2016.

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