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GUC FMT students participating in FinYology-FinTech Initiative launched by the Central Bank of Egypt

In Academic
Saturday, March 6, 2021

FinTech reflects computer programs and technology used to support or enable banking and financial services. In March 2019, the Central Bank of Egypt has launched its FinTech and Innovation integrated strategy aiming to improve the Egyptian ecosystem and regionally mark Egypt as a FinTech hub. Moreover, it has launched new initiative called “FinYology – FinTech” for youth, not only has it initiated it to raise the awareness of the Egyptian youth about FinTech, but also its goal is to boost their knowledge and abilities in such field to gain “future-ready” competences.

In this context, the Egyptian universities have been requested by the CBE to cooperate together in the youth initiative by incorporating Fintech in their curricula. Upon this request, various universities have responded and participated by adding the notion of FinTech in their curricula and scientific research projects.    

The faculty of Management Technology at the GUC has two of its majors which can significantly be subject to such initiative, which are finance and innovation. Hence, 206 students from these majors have decided to take part in this initiative by doing their seminar projects on the concept of FinTech. They have worked hard on conducting researchers on topics related to FinTech like: financial literature and inclusion in the era of digitalization, which added great value to their knowledge and exposed them to real life applications.

 

 

After having their projects assessed and shortlisted, three groups have been selected by the committee of experts that included Mr. Amr Naguib, General Manager of the Information Technology Sector at Emirates Bank of Dubai, Mr. Nermin Baha-Eldin, Director of Digital Services at Qatar National Bank, Mr. Ahmed Mounir, Director of the regulatory laboratory at the Central Bank, Mr. Ibrahim Abdel Rahim, Director of Internet Banking Support Services at the Central Bank, and Dr. Heba Ali, Assistant Professor in Finance at the GUC.  Two teams were qualified to the finals stage, where, the first place in the finance department was won by students: MennatAllah Farhat, Ahmed Shihab, Farida Adel, Adham Al-Zaini, while the first place in the Department of Innovation and Entrepreneurship was won by: Nadine Ibrahim, Nour Osama, Yasmine Walid, Zina Fouad and May El-Ghazouly.

 

The two teams were awarded certificates of recognition by the CBE at the virtual closing conference, in the presence of Mr. Rami Abul-Naga, Deputy Governor of the Central Bank, in addition to the participation of a number of prominent personalities in the banking field and the presence of the participating universities and students. The CBE has honored the German University in Cairo represented by Prof. Dr. Yasser Hegazy – the President of the GUC - and Prof. Dr. Ehab Kamel - Dean of the Faculty of Management Technology, Dr. Heba Ali and Dr. Hagar Adeeb for their efforts to participate in the initiative and implemented it at the GUC.