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ABK-Egypt signs Public School Scholarship Fund with the American University in Cairo

Cairo, September 2018 – Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) recently announced the signing of a Scholarship Fund agreement with the American University in Cairo (AUC), which will run over the next five years, sponsoring the tuition fees for an exceptional student from a public school. This is the Bank’s first initiative supporting the Egyptian public sector education and comes as part of ABK-Egypt’s belief in the role of CSR initiatives to develop Egyptian youth and better prepare them with the education and skillsets they need in today’s fast-changing job market landscape.

The Bank’s investment in education comes from believing in the value of giving back to the community and playing an active role in developing human capital, Egypt’s most important asset by far, said Mr. Khaled Al Salawy, the Bank’s CEO and Managing Director, who was recently acknowledged by Banker Middle East as ‘Banker of the Year 2018’.

The Scholarship is granted to one candidate applying to the school of Business Administration starting the academic year 2018/2019 in AUC. Students from across the country can apply for AUC Scholarship funds through the Ministry of Education after their Thanaweya Amma results are announced. The criteria for selection are: a minimum of 97% for science undergraduate students; a minimum of 94 % for arts undergraduate students; a minimum of 92% for STEM & EICE certificate holders. Students should also pass the minimum acceptance grade in their IELTS and TOEFL exams. Additionally, a panel evaluation is conducted for applicants and the final selection is made by the scholarship administration.

ABK-Egypt has successfully doubled the value of its CSR investment this year, compared to 2017, after recording strong financial results, primarily driven by a growing customer base that trusts in the Bank’s corporate and social values and appreciates ABK-Egypt’s ’simpler banking’ experience, which reduces time and cost related to fulfilling their banking needs. ABK-Egypt has already invested heavily in supporting Egypt’s healthcare sector in 2018.

Khaled Al Salawy closed by saying: “Our role in the development of human resources excites me personally and makes us all proud at ABK-Egypt. We believe in the value of ensuring that all students, and not just the most privileged, acquire the knowledge and skills that they need to improve their lives to better serve their economy.”