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

TheAlAhli Bank of Kuwait-Egypt (ABKEgypt) has 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 in support of the Egyptian public education sector, and comes as part of ABKEgypt’s belief in the role of corporate social responsibility (CSR) initiatives to develop Egyptian youth,and better prepare them with the education, and skill sets they need in today’s fast-changing job market landscape.

Khaled Al-Salawy the bank’s CEO and managing director said that 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, by far Egypt’s most important asset.

Al-Salawy was recently acknowledged by Banker Middle East as‘Banker of theYear 2018’.

The scholarship is granted to one candidate applying to the School of Business Administration starting from the academic year 2018/19 in theAUC.Students from across the country can apply for the AUC scholarship funds through the Ministry of Education,after theirThanaweya Amma results are announced.

The minimum acceptance score is 97% for the science section and 94% for the arts section. The minimum acceptance score is 92% for the STEM certificate and EICE certificates.

Students must 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 its ‘simpler banking’ experience, which reduces time and costs, related to fulfilling their banking needs.ABK-Egypt has already invested heavily in supporting Egypt’s health care sector in 2018.

Al-Salawy added that the bank’s“role in the development of human resources excites me personally, and makes us all proud at ABK-Egypt.” He added that they“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.”