ABOUT US

Our Leadership

Message from the Chairman of the Board

Ramy Aboulnaga

Chairman of the Board

EBC pursues an ambitious vision to be the nucleus of the payments ecosystem driving innovation and collaboration among stakeholders, while fostering the inclusion of more Egyptians into the banking system. This lines up with the broader national vision of the Central Bank of Egypt to continuously offer quality and affordable means of electronic payments to all Egyptians, thus accelerate the digitization of the economy.

In cognizance of the tremendous benefits that financial innovation can deliver to consumers, EBC shareholders led by the Central Bank of Egypt, charted the growth trajectory of the company that has evolved into a purpose- driven organization entrusted with the modernization and robustness of the national payments infrastructure, through serving as the advanced operator of payments schemes.

 

As Board of Directors, we are mindful that we are not only driving the sustainable long-term value for our shareholders; but rather driving strategic value for the entire payment’s ecosystem as well as our nation.  Our robust corporate governance system underpins our purpose and decision-making. The principles governing our ethical standards are entrenched within our Code of Ethics and Professional Conduct. We, as a board, set the tone at the top in actualizing our corporate governance framework through our behaviors and actions, embedding a culture of integrity, accountability and quality in all what we do, to sustain our excellence and future success.

We are successful as much as we maximize value to our stakeholder. With the longstanding partnership with the banking system, we were able to exploit the challenge of rapid technological advances to support its transformation through faster and more reliable payment technologies. We also collaborate with technology providers and global payment companies to exchange expertise and best practices. In line with objectives of the National Payments Council, EBC actively contributes to the government digitization initiatives aiming at accelerating the adoption of electronic payments methods and channels and the transformation into a less cash society. 

Our journey thus far has been fulfilling with several milestones; yet, we recognize that much remains to be done, and we are upbeat about our continued contribution to the future of e-payments.  It is with immense pleasure that I share with you our interesting journey that transcends the story of the national operator of payments, to telling the story of the continued evolution of electronic payments of our ambitious nation.

Ramy Abulnaga

Chairman of the Board

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Message from the Executive Chairman & CEO

Tarek Raouf

Executive Chairman and CEO

Since inception, EBC has been committed to delivering a seamless and secure payment experience. Our journey started back in 1995 with the notion of connecting banks and sharing payments infrastructure. Supported with the progressive vision of our shareholders, led by the Central Bank of Egypt, EBC has evolved into the advanced operator of national payments infrastructure powering financial inclusion, and a regional player pioneering electronic payments.

Our purpose guided our vision. Throughout years, we set out to change the way funds are transferred in Egypt. Our board provides leadership and strategic direction to our organization to always deliver on our purpose through driving innovation and fostering an inclusive payment ecosystem.

As you navigate our website, you will learn more about our culture and qualities that makes us who we are today

People-centric innovation

Backed by our robust technical capabilities and profound market knowledge, we infuse new ideas into the payments landscape. To us, innovation is no longer a question of “shall we; shall we not” but “how can we do it” and our answer is to always deliver people-centric innovations.

 Growing with impact

 Our corporate strategy reflects unwavering commitment to our purpose through balancing responsibility alongside growth and productivity. We deliver positive impact through constantly offering better payment for easier life.  We maximize our impact through fostering collaboration among the payment ecosystem while ensuring business resilience and effective corporate governance. 

 We live our values

Our core values “MEEZA” embody our corporate culture; how we operate every day, simply explained: Maximize value, Effective-innovation, Ethical Conduct, Customer Zeal and Accountability.  They reflect how we interact with our stakeholders and make our decisions.

The strength and enthusiasm to sustain our success and beyond, is driven by the trust bestowed upon us by each one of our stakeholders. We shall continue to connect payment technologies to people’s lives for brighter future for our nation.

I welcome you once again to our website.

 Tarek Raouf

Executive Chairman and CEO

 

 

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Our board of Directors provides leadership for our organization and strategic direction for our business, with sharp focus on long-term growth and sustainable value creation for all stakeholders

Our board of directors is composed of highly qualified leaders representing the optimal mix of skills of diverse and complementary backgrounds with top-notch expertise in payments, banking, risk management, legal, investment and financial technologies. The board composition demonstrates clear distinction between the positions of the non-executive Chairman and the Chief Executive Officer. 

Board Of Directors

Corporate Governance

Good governance is our approach to maintain the right balance in our pursuit of business long-term success and sustainable value creation

Our Aspiration

We strive to create an environment of accountability, trust and quality in our business, in order to foster business integrity and long-term responsible growth. As much as we succeed on this course, we ensure maximizing value continuously for our shareholders and stakeholders.

Our Approach

promoting strategies for long-term success and growth, sharpening our focus on interest of all stakeholders, strengthening risk management and management systems. With every business decision, we ensure alignment with our mission, observance of our code of conduct and opportunities for long-term value.

Our Practice

Strengthening corporate governance is an ongoing process that comes at the far front of EBC’s strategic priorities.

EBC embraces a comprehensive governance framework and an operating model spanning:

  • Governance structures: the board and the organization levels
  • Oversight & Responsibilities:Board oversight and authorities as well as management responsibilities and authorities
  • Talent & Culture:Performance management, business and operating principles, leadership and talents
  • Governance rules and dynamics: Policies, procedures, reporting and communication
  • Continuous improvement :to support decision-making and risk management

Our Board of Directors sets the tone at the top, manifesting principles of fairness, openness, accountability and integrity in the Boardroom and providing exemplary leadership for the organization. EBC’s board plays an instrumental role in:

  • Strategic direction through setting vision, purpose and strategies of the organization, helping the organization understand them and adapting the plans to implement them.
  • Leadership exemplifying Ethics and embedding the Culture by setting the tone for ethical and responsible decision-making throughout the organization.
  • Risk Management by putting in place an appropriate system of risk oversight and internal controls, executive committees can help increase the likelihood that their organizations will deliver on their purpose.
  • Organizational Performance Standards by setting performance goals and ensuring efficient utilization of organizational resources.

The company’s board of directors plays a pivotal role in determining the governance rules and requirements that will enable the company to achieve its objectives, while the implementation of these rules remains reliant on the active participation of all employees. We have established governance and management practices that are consistent with our relentless commitment to creating long-term value. These practices are part of the reason that we have evolved into the trusted national operator of the national payment systems.

  • Adopting Corporate Governance Manual that defines the general guidelines and common set of expectations to assist the Board in performing their duties. The Code is subject to reviewing and updating as appropriate to reflect regulatory requirements, evolving best practices and input from our shareholders and other stakeholders.
  • Fostering a Corporate Culture of integrity and risk awareness through the Board’s oversight of EBC’s integrated risk management framework and organizational awareness programs.
  • Establishing trusted means for employees to raise issues and concerns in line with the Whistleblowing policy, and promoting trust, positivity while ensuring protection and confidentiality of the process.
  • Supporting decision making through ensuring the flow of information to the board, transparency and accountability to external stakeholders and to employees throughout the company; and ensuring the integrity of financial statements and other key information.
  • Fostering Effective Engagement with stakeholders across corporate channels, through accurate and timely messages to the concerned stakeholders and allowing for feedback channels in line with our Disclosure Policy.
  • Ensuring clarity of roles and segregation of duties while clearly setting organizational expectations of executives and the organization.
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Mr. Rami Aboulnaga

Aboulnaga is the Deputy Governor of the Central Bank of Egypt, overseeing the Markets, Monetary Policy, Foreign Relations, Economic Research, Information Technology, and Banking Operations & Payment Systems Sectors. Since his joining, Mr. Aboulnaga oversaw the prudent management of the CBE’s foreign reserves. He led the advancement of the Egyptian FinTech industry and the development of locally relevant innovations to foster the adoption of digital financial solutions and enhance the access of financial products and services.

Mr. Aboulnaga supervised the Fintech and innovation strategy, positioning Egypt as a globally recognized Fintech hub for the Fintech industry in the Arab world and Africa, leading the establishment of the Fintech and Innovation Hub Grid. Under his leadership, milestone payment projects were achieved, most important of which are the Multi-currency Real-time Gross Settlement System and the Instant Payment Network. Moreover, he contributed significantly to the reform of regulatory frameworks of the Egyptian payment systems and services to cater for the digital transformation, of which, the most significant are the payment systems and financial technology chapter in the Central Bank and banking sector new law issued in 2020, mobile payments regulations issued in 2021.

Mr. Aboulnaga leads the Board of Directors of EBC as the Non-Executive Chairman ensuring that EBC fulfills its ambition as the nucleus of the payments industry leading the modernization of electronic payments and operating a robust national payments infrastructure.  

Mr. Abouelnaga is the Non- Executive Chairman of the Egyptian Central Securities Depository Company (ECSD), and he is a member of the Board of the Egypt Post Authority amongst other boards. He is an award-winner of the Professional Achievement Award from the British Council in Cairo in 2020. Additionally, he has been nominated for Choiseul 100 Africa in 2017, 2018, and 2019, which according to the independent think tank, “identifies young African leaders of 40 years old and below, who play a major role in the continent’s economic development in the near future”

He is a graduate of the American University in Cairo, with a Bachelor’s degree in Business Administration and a minor in Economics, and holds a Master’s of Science degree in Finance from City University, UK. He participated in numerous training courses, seminars, and conferences in various international institutions, such as the World Bank, the Federal Reserve Bank, and the German Bundesbank, among others. He also joined the Leadership and Change Management Executive Program at Yale University and the Executive Leadership Program at Harvard Business School. 

Eng. Tarek Raouf

Eng. Tarek Raouf is the Executive Chairman & Chief Executive Officer of EBC. He led the business growth and transformation after assuming his executive role in 2019, prior to that he contributed remarkably to charting the strategic direction of EBC as a non-executive Chairman. He led the development of several innovative payment systems, most recent of which is the Instant Payment Network, in addition to supporting the modernization program of government payments and collection.

Mr. Raouf is a veteran with multifaceted experience exceeding 35 years in electronic payments, domestic payment schemes, information technology and risk management. He led a series of bold transformations in prominent international and domestic enterprises, in public and private sectors. He served as Sub-Governor at the Central Bank of Egypt, for Payments System and Business Technology from 2005 to 2011, during his tenure, he led milestone projects, most prominent of which is the RTGS. Prior to that, Mr. Raouf held management positions in international business, including British Gas where he resided as the Director of Information Technology driving innovation in core and emerging technologies.

Tarek Raouf served a non-executive Board member in the Egyptian Credit Bureau “I-Score” and E-finance. Currently, he is a non-executive Board member at E-serve and E-KYC. As a seasoned expert, Mr. Raouf is a key speaker at international payment conferences and workshops addressing emerging payment technologies, open banking and payment challenges.

Mr. Raouf graduated from Cairo University with a Bachelor Degree of Science in Engineering. He attended executive seminars and completed programs including the Executive Management Program from Harvard Business School.

Eng. Ayman Hussein

Eng. Ayman Hussein holds the capacity of the First Sub-Governor of the Central Bank of Egypt, Business Technology Sector. Eng. Hussein is the Chairman of “Altera for Digital Financial Infrastructure”, the Fintech arm of the CBE, he is also a member of the board of directors at eFinance Investment Group as well as a member of the advisory board at Nile University. He was also a member of the National Payment Council headed by H.E. President of Egypt, the Supreme Council of Cyber Security since its establishment until the end of 2020.

Eng. Ayman Hussein is a distinguished leader in fintech and digital transformation with a diverse experience exceeding 27 years in the areas of Digital Financial Services, Payment Systems and Services, FinTech and Innovation, Information & Communications Technology, Cyber Security, Enterprise Governance and Risk Management, Regulations & Legislation Development.

Eng. Ayman Hussein is a key contributor to developing and establishing the CBE’s strategy for Fintech and innovation that aims to drive innovative solutions the deepens the penetration of digital financial services in the Egyptian market. He is also leading the implementation of its strategic pillars including the establishment of Regulatory Sandbox, Fintech Fund with Commercial Banks as well as the inauguration of the Fintech and Innovation Hub.

Prior to that, Mr. Hussein spearheaded the transformation of Egypt for 7 years to a less-cash society through a well-developed and integrated framework consisting of multi pillars like Financial Market Infrastructure, Laws & Regulations, Payment Instruments and Acceptance Channels, FinTech and Innovation, Cyber Security for the Financial Sector, Agent Banking, Digital Payment and Collection for Government, Digital Identity, and e-Commerce. Mr. Hussein joined the CBE back in 2005, where he held several key positions latest of which was Sub Governor and First Sub Governor. On the professional level, he is a Certified Information Security Manager “CISM”, Certified in Governance of Enterprise IT “CGEIT” as well as a Certified Information Systems Auditor “CISA”; from Information Systems Audit and Control Association “ISACA”, USA.

He holds a B.Sc. degree from the Faculty of Engineering, Cairo University and a Master degree in Business Administration “MBA” from Edinburgh Business School, Heriot-Watt University in UK; and in 2019, he has completed the Executive Leadership Program at Harvard Business School

Eng. Ihab Nasr

Eng. Ehab Nasr is the Assistant Deputy Governor of the Banking Operations and Payment Systems Sector at the Central Bank of Egypt. He is also serves as the Executive Secretary of the National Council for Payments, chaired by H.E the President of Egypt, with the objective of promoting digital payment methods to foster financial inclusion. Eng. Ehab Nasr is a member at the Board of Misr for Central Clearing, Depositary and Registry (MCDR). He has more than 20 years of experience in the fields of payment and settlement systems and services, communications and information technology, information systems governance, and regulatory rulemaking.

Eng. Ehab Nasr joined the Central Bank of Egypt in 2009 at the capacity of Director of the Instant Settlement System Department. He resided at the CBE till the present serving in various roles where he contributed widely to rolling out digital payment methods and building a competitive payments market. In 2019, he was appointed in the capacity of payments sector Assistant Deputy Governor.

Since joining EBC board in 2019, Eng. Ehab Nasr has supported the growth of EBC as a diverse operator of national payment operator, in line with the CBE vision. He spearheaded several mega projects, most prominently the Instant Payment Network.  

Eng. Ehab Nasr was graduated from the Faculty of Engineering, Cairo University in 2001. He is also a holder of a Master in Financial and Banking Support Services from ESLSCA University in France in 2011.

Eng. Zakeya Ibrahim

Eng. Zakeya currently serves as Assistant Deputy Governor Markets sector, Head of money and capital markets at the Central Bank of Egypt, overseeing the Money Markets, Financial Markets, Monetary Policy and Central Risk. She is a board member at Misr for Central Clearing, Depositary and Registry (MCDR). She brings more than 18 years of experience in asset management, capital markets and investment instruments, including 14 years at the Central Bank of Egypt where she occupied a number of key positions.

She is a CFA Charter Holder and a Master’s degree in Business Administration (MBA) from Edinburgh Business School, in addition to a certification in Management Excellence from Harvard Business School. Moreover, she attended executive training programs and seminars at the World Bank, the Federal Reserve Bank and on the job training at several international asset managers. In addition to her service at the CBE and several boards, Eng. Zakeya is a part-time instructor in the AUC School of Business, Executive Education.

She was graduated with a Bachelor’s degree in Construction Engineering from the American University in Cairo in 2003 with highest distinction and honors, where after finishing her engineering studies, she ventured into finance and investment, complementing her unique profile.

Mr. Tamer El-Dakkak

Counsellor Tamer El Dakkak is the Legal Advisor to the Governor of the Central Bank of Egypt and the Vice President and Assistant General Secretary of the State Council. He serves as a non-executive Board Members at Misr for Central Clearing, Depositary and Registry (MCDR) and Egyptian Banks Company (EBC)

He is a respected veteran with more than 23 years of experience in legislative and judiciary affairs. Throughout his career, he held many judicial positions, including the Head of the Administrative Court. He was also a member of the Advisory Section for the Ministries of Interior, Foreign Affairs and Justice, a member of the Technical Office of the General Assembly for Advisory and Legislation sections, a member of Judicial Studies and Research Center and a member of the Legislation Section of the State Council. In addition, he was seconded as a Legal Advisor to several public entities   and ministries, such as the Ministry of Finance, the Ministry of Investment, and the Central Bank of Egypt. He was also a member of the Technical Secretariat of the Supreme Committee for Legislative Reform, the Ministerial Committee for Settlement of Investment Disputes, the Supreme Investment Council, the National Payments Council and the Supreme Arbitration Commission.

Counsellor El-Dakkak had a key role in the committees preparing several draft laws, such as the investment law, the central bank and banking sector, and the law regulating the use of non-cash payment methods

Counsellor El-Dakkak holds a Bachelor degree in Law from Alexandria University and Masters in Public Law and Administrative Sciences. He also received many training courses in banking and legal fields from a number of universities and international institutions such as the International Monetary Fund, Harvard University, and Euromoney Foundation.

Mr. Mohamed Niazy

Mr. Mohamed Niazy is the Deputy for Swift and Electronic Settlement at the National Investment Bank. He was appointed at EBC board in 2020 brining more than 30 years of experience in credit management, capital valuation, feasibility studies and strategic planning.

Prior to joining the National Investment Bank, as Deputy for Administrative Affairs, Mr. Mohamed Niazy served at multiple state enterprises including El-Nobaria for Sugar Refining and Egyptian Transport and Commercial Services “Egytrans”, bringing a diverse exposure to various domains including trade, manufacturing, tourism and banking. He has a track record as a key contributor to the state investment program, as he led reform projects for the financing and tax reconciliation, in addition to steering cooperation protocols among several state enterprises. 

Mr. Niazy holds a Bachelor of Commerce of Foreign Trade in addition to a diploma in planning and feasibility studies, Helwan University, Egypt. 

Mr. Khaled Abdallah

Eng. Khaled Abdallah is the Chief Technology Officer at the National Bank of Egypt. He is a Member of the Board of Directors of Al-Ahli Momkn Company for Electronic Collection Services and he joined EBC’s board in 2021.

Eng. Khaled Abdallah has a distinguished career with more than 30 years of experience in the banking sector, information technology, technical support, networks, payment methods, external and internal distribution channels, information security. He joined NBE in 2009 where he resided for more than 14 years and contributed to the robustness of the information system and Infrastructure at his capacity as Head of Internal and external distribution channels, IT Change Management and Control and previously as the Chief Information Security Officer.

Prior to that, Eng. Khaled Abdallah served at Barclays Egypt for almost 15 years where he occupied several positions in the field of Information Technology Operational Risk and contributed massively to building and embedding risk assessment control across network design, systems analysis and development, and full lifecycle project management.

Eng. Khaled Abdallah holds a B.Sc. of Commerce from Cairo University. Moreover, he accomplished many certifications including: Certified Information System Manager and Information Technology Infrastructure Library (ITIL) management.

Mr. Moataz Metawea

Mr. Moataz Metawea is the Acting Head of Retail Banking at Banque Misr. He previously held the position of General Manager of the Department of Electronic Payments. Mr. Moataz has a combined 26 years of experience and currently serves on the Board of SuperPay Company, he previously served on the Board of E-finance and Souhoola.

He obtained a Bachelor of Accounting with distinction, Faculty of Commerce and Business Administration from Cairo University and went on to complete his MBA in 2003