Ain Shams University participates for the first time in the initiative of the Central Bank of Egypt in coordination with the Egyptian Banking Institute

Within the framework of the keenness of Ain Shams University, headed by Prof. Dr. Mahmoud Al-Metini, and the supervision of Prof. Dr. Abdel Fattah Saoud, Vice President for Education and Student Affairs, to raise the level of its students and develop their skills in line with the requirements and developments of the labor market, the Faculty of Engineering at the university participated in the FinYology-FinTech for Youth initiative launched by the Central Bank of Egypt, with the aim of supporting young talents in the field of financial technology and helping them To develop their skills by linking theoretical study with practical application, raising the level of graduates and strengthening communication with partners and executives from the banking and financial sector.

The pilot phase of the initiative was successfully launched in February 2020 by the Central Bank, which assigned the Egyptian Banking Institute to implement the second and third phases of the initiative, in order to develop young talents and spread awareness and innovation in the fields and applications of financial technology by including financial technology projects within the study programs of some subjects Theoretical and practical for university students, taking into account the relevance of these projects to the needs of the Egyptian banking and financial market that need digital solutions, which have already been monitored and published on the FinTech Egypt platform, including achieving financial awareness and financial inclusion for the most needy groups.

The Central Bank of Egypt’s keenness to sponsor and launch initiatives aimed at creating innovative and distinct solutions to the current and future challenges that the sector may face. With the steady development of digital technology, the banking market’s need for innovative digital solutions for financial transactions is increasing.

Hence, the FinYology-FinTech for Youth initiative aims to encourage specialization in the field of financial technology in universities and enhance opportunities for discovering young talents in this field, nurturing and adopting their ideas, in line with the objectives and vision of the Central Bank for the development of the banking sector.

The university’s participation in the initiative comes for the first time in the spring 2021 semester, through the Faculty of Engineering, under the auspices of the Dean of the Faculty, Prof. Omar Al-Husseini, and the coordination of Prof. Mostafa Refaat, Vice Dean for Education and Student Affairs, and the distinguished participation of the Faculty came through the Education and Student Affairs Sector, through Engineering Economics : Humanity under the supervision of Dr. Nabil Hamed, Field Training Coordinator, Assistant Professor of Electrical Power and Machines department, where students participated in the various stages of the initiative, which was implemented in cooperation between the Faculty and experts from the Central Bank, the Egyptian Banking Institute and Egyptian banks.

The first phase of the initiative began at the university, with the participation of 12 groups of students, and reached the final stage, which saw the rise of three groups to the final liquidation on the fifteenth of July.

Its events, which were held via digital channels, were attended by experts from the Central Bank, the University and the Cairo Bank.

The activities of the final stage ended with two groups winning the first place equally for the excellence of the project presented by the two groups Ta7wisha and House finder. However, the winning students from the Ta7wisha group were granted the opportunity to obtain a summer training in the field of digital banking services at Banque du Caire, to receive the necessary training, guidance and guidance to support and develop their skills and ideas In the field of financial technology, certificates of appreciation were also awarded to the three groups in the final stage and to Professor Dr. Nabil Hamed, who is supervising the implementation of the project at the university.

The supervisors congratulated the winning students, and expressed their happiness with the experience and their eagerness to participate in the initiative during the upcoming semesters.