Al Baraka Bank Egypt & Elsewedy University of Technology (SUTech) – Polytechnic of Egypt Sign A Memorandum of Understanding to Support Students in Need

Cairo, September 2025 :

«Al Baraka» Bank Egypt and Elsewedy University of Technology (SUTech) – Polytechnic of Egypt signed a memorandum of understanding (MOU) to provide partial scholarships worth EGP 20 million for the academic year 2025/26. The scholarships will cover tuition fees for financially and academically outstanding students. This partnership promotes high-quality education in technology and empowers students to pursue their studies without financial obstacles.

Key Figures at the Signing Ceremony

The four-year agreement was signed by Mr. Hazem Hegazy, CEO and Vice Chairman of the Bank Egypt, and Eng. Ahmed Elsewedy, Chairman of the Board of Trustees of SUTech, at Elsewedy Electric headquarters in New Cairo. Attendees included Mr. Sherif Ezzat, Head of Marketing at «Al Baraka» Bank, Mrs. Hanan ElRihany, CEO of Elsewedy EDTECH, Prof. Dr. Ahmed Hassan Youssef, President of SUTech, and other senior leaders from both institutions.

Al Baraka Scholarship Details and Educational Impact

the Bank Egypt provides scholarships covering 10% to 90% of tuition fees. SUTech continues to offer world-class programs that enable students to earn a Professional Bachelor’s Degree in Engineering Technology and prepare for local and global labor markets. Additionally, one classroom will carry the «Al Baraka» Bank name for ten years, symbolizing a long-term commitment to supporting students’ education.

Statements from Leadership

Mr. Hazem Hegazy stated:

“We are proud to support 104 students at SUTech, preparing them for professional careers. At «Al Baraka» Bank Egypt, education is central to our corporate social responsibility. Investing in young minds is the true investment in Egypt’s future. This partnership expands horizons for outstanding students and enables them to pursue education aligned with industry needs.”

Eng. Ahmed Elsewedy added:

“Our university aims to bridge the gap between industry requirements and higher education outcomes. Partnerships with world-renowned universities and leading companies ensure students gain skills for local and global markets. Collaborating with «Al Baraka» Bank Egypt offers students wider opportunities and ensures equal access to education.”

Al Baraka Longstanding Collaboration

This agreement builds on previous collaborations between «Al Baraka» Bank Egypt and SUTech, including the establishment of a state-of-the-art computer lab named after the bank. The initiative reflects the institutions’ continued commitment to advancing technology education and empowering students to meet labor market demands.

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