Welcome to our newest faculty members joining us this fall! The incoming faculty are bringing their diverse backgrounds and varied research interests to AUC, with studies ranging from development economics to archival ethics to Mamluk manuscript culture, and everything in between. We’re happy to welcome them to the University and get to know them through their video introductions.

On December 31st, 2023, the Ministry of Education celebrated the success of the School University Partnership (SUP) at the Abou El Enein school in New Cairo. The Minister of Education expressed gratitude to AUC for their pivotal role in the initiative's success, and announced plans to integrate SUP into the national strategic plan, extending its reach across all Egyptian educational directorates.

Initiated by the Middle East Institute for Higher Education, the SUP project involved the collaboration of undergraduate and graduate students, AUC faculty from various disciplines, and government school teachers and pupils in order to leave a lasting impact on nine neighboring government schools. Throughout the Spring, Summer, and Fall of 2023, the team dedicated their efforts to developing student citizenship, leadership and participation, supporting sustainable development in schools, and opening doors for digital literacy.

The event, attended by the entire community-based learning team, featured Malak Zaalouk, who provided a historical background of the initiative. School pupils presented their accounts of the transformative impact SUP had on their schools. As a result of this successful collaboration, the Minister of Education recognized the program's potential to shape the future of education in Egypt.

Read more about the SUP initiative in AUCToday

Header photo (taken by Ahmad El Nemr): A new outreach initiative from AUC’s Middle East Institute of Higher Education is creating school-university partnerships that promote community engagement, empower public school students and foster sustainable development.

With a first-place finish, Yara Ebeltagi, finance major with a minor in economics; Malak Elshennawy, finance major with a minor in economics and mathematics; and Joudy Aly, business and entrepreneurship major, made AUC proud at the Arab Fintech Challenge held at GITEX Dubai 2023. Creating an app called 'Mini Money' that incentivizes youth financial literacy, their project was selected out of international teams from across the region for its capacity to go beyond traditional savings methods and motivate youth with a unique rewards system. 

The students began this startup project as part of the Entrepreneurship and Innovation course taught last spring by Moataz Darwish '95, associate professor of practice in the Department of Management at the School of Business and team mentor. 

"The entrepreneurship project is a cornerstone in this course, with a clear learning outcome of generating a world-class experiential learning experience for students and equipping them with a mix of academic rigor and relevant  practical tools to help them succeed in the outside world," said Darwish. "The students were trained on all aspects of designing an entrepreneurial venture, from framing a customer problem to designing and prototyping a business model to delivering a powerful pitch. The process is very demanding and requires a variety of pedagogical techniques, including experiential workshops, case studies, guest speakers, investor assessment simulation, one-on-one coaching as well as personality and entrepreneurial tests and simulations with support from AUC's Career Center and Eonomics Behavioral Lab."

The Arab Fintech challenge is a competition powered by Fintech Egypt, initiated by the Central Bank of Egypt and sponsored by the EG Bank MINT incubator.

Hear some thoughts from the team about the project, collaborative aspects and the competition process:

Yara Elbeltagi 

“Our collaborative journey in shaping our FinTech solution was enriched by the diverse personalities within our team. Dr. Moataz's endorsement of these differences proved to be a success, as they seamlessly enhanced our decision-making process. 

Joudy is the most practical of us, always thinking rationally, Malak is extremely analytic and focuses on the details, always making sure our information is backed, and I felt like I brought forward the creative angle that helped bring our idea to life. 

Since developing the idea initially, these distinct strengths enabled clear communication and efficient development, allowing us to develop Mini Money in synergy. 

Joining the regional competition unlocked a plethora of opportunities for us. To begin with, we gained an internship at Mashreq Bank which was extremely eye-opening and offered us hands-on exposure to the job market. We also got the opportunity to join a three-month FInTech incubation program organized by MINT by EG Bank. Networking was and still remains a great benefit from our participation; we continuously meet professionals and individuals who serve as mentors and give us real advice based on their experiences as well as unlock new opportunities for us."

Malak Elshennawy

“Although the three of us were majoring in either finance or entrepreneurship, our knowledge about FinTech was limited, having been recently declared. Still, our brief moment of hesitation did not stop us from competing, because we have always been committed to succeeding in everything that we did. More importantly, our professor believed in our abilities and urged us to compete. 

Our winning FinTech startup, the Mini Money gamified app with an embedded wallet, is designed to help parents track their children’s spending, increase their financial literacy and give them benefits whenever they save up, such as discounts at their favorite gaming store.  We were continuously changing and updating the app based on feedback from parents, bankers, venture capitalists and AUC faculty. Innovation is a continuous process, and over time, our startup has prospered and changed with help from all these mentors who have changed our perception of both the problem and the feasibility of our solution."

Moataz Darwish, faculty mentor

“The main problem the students tackled in this project was the lack of financial literacy among the youth population. Generally speaking, children don't have an efficient way to track or manage their spending, let alone savings. They possess a limited grasp of the importance of responsible financial management. 

Through the team's Mini Money project, youth will be able to monitor their spending and be incentivized to save through the gamified app experience. The app helps prepare the future generations in financial prudency and efficient financial decision making. The project also serves  parents by helping them  monitor and mentor their children's finances. The solution also signifies the contribution that AUC aims to provide by preparing its students to tackle sizable problems in the Egyptian and emerging markets  with innovative tech and business model endeavors. 

This project was enabled by the tremendous support we receive from the School of Business and the entire AUC community. Nothing is more rewarding to me than to realize my life mission in mentoring and coaching my students to realize their potential and enhancing AUC’s positioning in Egypt and beyond.” 

AUC’s Board of Trustees has elected its newest member: Ahmed Galal Ismail ’97, chief executive officer and member of the Board of Directors at Majid Al Futtaim Holding, the leading shopping mall, retail and leisure pioneer across the Middle East, Africa and Asia, with assets in excess of $18 billion and 44,000 employees.

Holding an MBA with distinction from the London Business School and a Bachelor of Science in computer science with high honors from AUC, Ismail is happy to serve his alma mater. 

“I’m delighted to be invited to join the AUC Board of Trustees and for the opportunity to contribute to broadening AUC’s impact across the Arab world,” Ismail said.

A business trailblazer, Ismail held several executive positions across Majid Al Futtaim’s portfolio of businesses during his 16-year tenure, playing an instrumental role in the company’s growth and development. Having joined in 2007 as the group's vice president of strategy, Ismail quickly rose through the ranks, becoming CEO of Majid Al Futtaim Ventures from 2009 to 2018, overseeing seven business niches such as leisure and entertainment, cinema, lifestyle, facilities management and consumer finance. From 2018 to 2023, he was CEO of Majid Al Futtaim Properties, managing the company’s wide range of shopping malls, hotels and mixed-use communities across the United Arab Emirates, Egypt, Oman, Bahrain and Lebanon. Prior to Al-Futtaim, Ismail worked with Procter and Gamble in Egypt and Germany in addition to serving as principal of Booz Allen Hamilton, where he advised organizations in the retail, media, tourism and transportation sectors.

"My fellow trustees and I are excited to welcome Ahmed Galal Ismail to our Board,” said Mark Turnage (ALU ’82), chair of AUC’s Board of Trustees. “As an AUC graduate, Ahmed has been a tireless advocate for the University, and he brings a wealth of experience, knowledge and leadership that will support AUC’s impact at this critical moment.”

Ismail serves on the boards of the Arab Investment Bank and Endeavor United Arab Emirates, a global nonprofit dedicated to high-impact entrepreneurship. He is also a member of the World Economic Forum’s Alliance of CEO Climate Leaders.  

The Egyptian economy has faced many challenges in recent years, including a two-time devaluation of the Egyptian pound, soaring inflation and a foreign-exchange crunch, which has resulted in restrictions on credit usage in foreign currencies. 

What does the economic landscape look like in Egypt right now, and what can we expect moving forward? We spoke with Ahmed Abou-Zaid, professor of economics at AUC, to learn more.

The Central Bank of Egypt has recently banned the use of debit cards abroad and restricted credit usage for transactions in foreign currencies.  Why has it taken such steps?

Central banks across the world adopt various targets and objectives, ranging from price stability and high employment to fostering economic growth. In the case of the Central Bank of Egypt, its current primary focus is maintaining stability in the foreign exchange market. Recent decisions made by the CBE, such as banning the use of debit cards for foreign currencies, serve as a reflection of the foreign currency shortages Egypt is currently suffering from. The Central Bank aims to stabilize the market by retaining a significant portion of foreign currency within the country's borders. Recently, there have been reports of individuals being sent to foreign countries with numerous debit cards to withdraw dollars from their Egyptian pounds’ accounts. This practice has resulted in a substantial decline in Egypt's foreign reserves, worsening the existing problems.

What does this signify?

Egypt's focus on foreign exchange market stability, while confronting foreign currency shortages and inventive practices to access foreign currency, underscores the importance of prudent Central Bank policies to safeguard the country's economic well-being. These measures are pivotal in addressing the challenges posed by capital flight and depletion of foreign reserves.

Do you expect another devaluation? If so, approximately when?

Given the current state of Egypt's foreign reserves, it's evident that the price of the U.S. dollar in the black market has surpassed EGP 42, which represents a considerable premium of approximately 10 pounds over the official exchange rate. Given these conditions and in the context of Egypt's agreement with the International Monetary Fund, there is a strong likelihood of another devaluation occurring by January 2024. This impending devaluation should be seen in the broader context of Egypt's economic challenges and its commitment to agreements with international financial institutions like the IMF.

How do you foresee people's cost of living and general expenses being affected amidst the current economic conditions? 

Two recent currency devaluations, sluggish wage growth, limited economic subsidies and a rapid population growth, have contributed significantly to a notable decline in the living standards of the Egyptian population. The elevated value of the U.S. dollar has played a major role in raising the cost of imported goods, the majority of which encompass essential products, such as food and medicine, as well as crucial inputs for manufacturing and agriculture.

Should we expect inflation to rise?

Official data published by the Central Bank underscores a consistent upward trend in inflation over the past two years, averaging at around 40%. With another devaluation on the horizon, it's a straightforward projection that prices will continue to surge, given that foreign components or inputs are integral to nearly every product in Egypt.

What do you foresee for the Egyptian economy through the end of this year? Into next year? In the long term?

Forecasting the trajectory of Egypt's economy is an easy task as it depends on multiple factors. In the short term, the foremost concerns include persistent inflation and depreciation of the Egyptian pound, posing significant challenges that will lead to higher prices and lower standards of living. 

Looking ahead to the mid and long term, Egypt's economic prospects can be enhanced through the implementation of a range of policies, such as attracting foreign investments, managing population growth, advancing infrastructure projects and adopting sustainable practices. By strategically employing these measures, Egypt can chart a path toward economic improvement and sustainability in the coming years.

What advice would you give to people living in Egypt to cope with these challenging conditions?

A very difficult question, but what I can think of is “work hard and budget wisely”. 

As part of AUC’s ongoing commitment to experiential learning, construction engineering undergraduates visited Egypt’s New Administrative Capital to explore hands-on the advanced construction methods and state-of-the-art electromechanical systems being employed. Students ascended to the top floor of the Iconic Tower, the tallest in Africa, where they were able to witness the advanced construction systems that comprise it in action. 

“Seeing such a mega structure, the Iconic Tower, in real life and listening to industry leaders delve into how such buildings are constructed is a real privilege,” says Mohamed Elnakeb, construction engineering graduating senior and president of the student-led Construction Engineering Association (CEA). “We also viewed the mechanical systems inside the tower. This experience is an added value for us as students since we actually see things firsthand and understand how it all works in real life.”

The initiative is a collaboration between CEA, the Department of Construction Engineering, Career Center and American Society of Civil Engineers AUC Student Chapter. 

At the Central Business District, students were granted a unique opportunity to study the technological advancements of the area and gain insights that extend far beyond the confines of traditional classrooms. Additionally, the students visited the highrise twin towers, interconnected by a sophisticated truss bridge at the top. “This provided a rare opportunity for them to examine the intricate structural elements and construction methodologies that underpin these towering edifices,” says Ibrahim Abotaleb, associate professor in the Department of Construction Engineering. 

This immersive trip served as a cornerstone of the Career Center's job-shadowing efforts, facilitating meaningful interactions between aspiring engineers and industry professionals."The Career Center organizes job-shadowing visits in diverse industries to help students visualize their career in action,” says Mary Henry, experiential learning officer at AUC’s Career Center. The job-shadowing program allows students to spend a day with a professional working in their career of interest, giving them the opportunity to experience what the job is like and get their questions answered by professionals in the field.”

Engaging directly with engineers and representatives of the China State Construction Engineering Corporation, the driving force behind the construction efforts in the New Administrative Capital, the students gained valuable insights into the collaborative efforts and meticulous planning involved in such ambitious projects.

“AUC made history during this visit, becoming the second University to explore the Iconic Tower and the very first to venture into the twin towers, which marks a significant milestone in its commitment to fostering hands-on learning experiences for its students,” says Aboutaleb. "Such initiatives not only enhance academic knowledge but also provide students with a glimpse into their future careers, bridging the gap between education and real-world applications."

As part of their shared commitment to safeguarding and maintaining cultural heritage, AUC and the Al-Turath Foundation have partnered to launch a new initiative aimed at developing innovative digital methods for historical preservation.

"The AUC Library and the Al Turath Foundation share a common vision and purpose through the commitment to the preservation and safeguarding of our rich cultural heritage,” says Lamia Eid ’88, ’92, interim dean of AUC’s Libraries and Learning Technologies. “We are dedicated to the creation, production and dissemination of knowledge, not only at the national and regional levels but also on a global scale.”

Holding a central role in the endeavor to explore heritage preservation, the partnership will foster collaboration in literature and translation alongside theoretical and field research initiatives, particularly in the areas of urban heritage and architectural restoration. 

The initiative also aims to spark community interest, pride and investment into preserving national identity and culture. This will be achieved through enhancing the accessibility of cultural heritage through digital platforms and focusing on their documentation through research, publication, documentary film production and collaborative cultural events.

The impact of this partnership will be appreciated for generations to come: “In an era marked by rapid technological advancement, our collaborative efforts are indispensable for ensuring that our unique and rare collections are safeguarded for the benefit of future generations, particularly through innovative digital approaches,” Eid says.

For someone who wants to do everything, AUC rises to the challenge. “I was really, really happy to have the option to study a lot of different things. I couldn’t choose one specific aspect to focus on because that just wasn’t fulfilling to me,” says Mona Nasr, a member of the first cohort of AUC’s Excellence Scholars. 

“Without the Excellence Scholarship, I wouldn't have had the opportunity to study here,” Nasr adds. “I love that it focuses not only on academics, but the person as a whole. You can show your strengths in more ways than one, like in leadership, talent or sports.” 

Nasr’s strengths fall across the board. Already in a host of co curricular activities alongside planning a psychology major and political science minor, the ability to engage in different academic and non-academic endeavors at AUC lets Nasr fully explore her overall interest: working with people. 

“I love the idea of knowing how the world works,” she says. “Psychology allows me to study how our minds function and why we behave the way we do. Political science adds another layer, as politics affect everything about how we live and integrate in society.”. 

What she learns in the classroom is instantly applicable in the many student organizations she has joined, one being Mashroo3 Kheir, a student group that leads educational and aid initiatives focused on giving back to the community. “Working with student groups has been a really great experience,” she says. “Being able to get involved is a big part of why I was so excited to attend AUC.”.

While she’s not studying, Nasr manages to find time to pursue her non-academic passion which is singing. “I've been singing for as long as I can remember, ever since I was 3 years old. It's something that's very much a part of my family,” she says. 

Nasr’s mother is a recording artist and owns a music production company, and they even recorded a song together. “It's always been something that's very related to family for me and a big part of who I am,” she says. “It helps me feel balanced with my academics, like it completes my personality.”

What advice helps guide her during her journey at AUC? 

“I feel like for so many people my age, in this part of our lives, there are so many decisions to make,” she says. “You don't know what you should study, you don't know what's going to make you more successful, and sometimes I see people choose things they don’t actually like just to do things that they think will get them a high-paying job. But for me, the advice that I've gotten from many older family members is that if you do what you love, you'll be happy with what you're doing. And you will eventually, with dedication, find success.”

For someone who does as many things as Nasr, AUC is a great place to showcase her strengths in every discipline – no need to sacrifice any piece of her passion.

Building on the University's expertise and proven track record in sustainability and its history of excellence in professional education, AUC will offer an Executive Diploma in Sustainability to train and empower 200 Emirati public servants as the United Arab Emirates prepares to host COP28 in November. 

Through a partnership with the UAE’s Ministry of Climate Change and Environment, Dubai International Financial Centre Academy and the UAE University Leadership Council, this interdisciplinary program will offer four cohorts the opportunity to gain the essential knowledge, skills and mindset required to take leadership in sustainable initiatives.

“We are honored to be partnering with distinguished colleagues in the UAE who share our common vision for ensuring sustainability is an integral part of the advancement of the Arab world,” said AUC President Ahmad Dallal at the signing. 

Prioritizing a deep understanding of the global sustainability challenges the world faces, the two-month Executive Diploma in Sustainability will foster innovation and cultivate a strong sense of environmental responsibility. 

The diploma centers on four sustainability models: 1) sustainability and water, 2) energy and food nexus from a global perspective, 3) energy resources and green economy at the regional level and 4) water productivity for food security and grassroots innovation for water-energy-food challenges. Participants further benefit from immersive site visits in the United Arab Emirates in order to implement the practical knowledge and skills they acquire during their studies.

The program will also serve as a model for further sustainable initiatives. “We draw on AUC’s technical expertise in sustainability and track record in professional education to build with our partners in the UAE a program that can serve as a model for equipping the region’s workforce with skills essential to the future of work.” said President Dallal.

By reflecting on critical global challenges like the evolving landscape of Sustainable Development Goals, ecological awareness, renewable energies and resilience in the face of climate change, participants will gain a broad understanding of strategies to address pressing environmental concerns. Armed with this knowledge, they will be equipped to advocate for sustainable resource usage and create lasting positive impacts across various industries and communities. 

"The Executive Diploma in Sustainability- Dubai program is an enriching opportunity for professionals and graduates alike, honing their expertise to drive sustainability in a rapidly changing world," said Muhammad Khaled, operations manager at the Center for Applied Research on the Environment and Sustainability (CARES). "Aligned with AUC's Climate Change Initiative and the commitment of CARES to not only inspire positive change in the MENA region but also catalyze global transformation, this program exemplifies our dedication to shaping a more responsible and sustainable future.”

In 2022, AUC launched a diploma program in sustainable development to equip students with the knowledge and skills needed to address pressing environmental and social challenges. The diploma –– with a focus on innovation and entrepreneurship, sustainable technologies, and social and environmental policy –– coincided with Egypt's preparations to host the COP27 climate conference in Sharm El Sheikh in November 2022.