Tuesday , September 25 2018

Zewail City and NBK ink EGP 6.25 mln cooperation protocol

Deal to fund 10 scholarships over a period of 5 years

Zewail City’s Executive President, Prof Sherif Sedky and Managing Director at National Bank of Kuwait – Egypt, Dr Yasser Hassan signing the protocol

KUWAIT CITY, Aug 13: Zewail City of Science and Technology and NBK ink EGP 6.25 million cooperation protocol to fund 10 scholarships over a period of 5 years.

Prof Sedki: A valuable partnership that highlights the importance of concerted efforts between the private and public sectors to drive development … we hope for continuous flow of support to complete the various stages of the city and achieve a breakthrough in the field of scientific research.

Dr Hassan: Our cooperation with Zewail City is an integral part of the bank’s corporate social responsibility … the City sets an ideal model of the trustworthy institutions that strive to utilize the support and assistance they receive in the best way possible Zewail City of Science and Technology and National Bank of Kuwait inked a cooperation protocol worth EGP 1.25 million annually for a term of 5 years to provide 10 scholarships to the City’s students in 2018.

The protocol comes in line with the strategy adopted by both parties aimed to support and develop scientific research and to empower innovative scientists by providing all the required prerequisite for success to develop the Egyptian society, in line with the Sustainable Development Strategy: Egypt’s vision 2030.One of the main objectives of Zewail City is aimed at keeping abreast of scientific development and contribute towards scientific research to propel Egypt to a leading position among developed countries in the areas of science and research.

Meanwhile, NBK is a firm believer that advanced education is the first step on the road to promote the country and head towards a better future, in addition to the importance of education for the Egyptian society’s progress and advancement. The protocol was signed by Zewail City’s Executive President, Prof Sherif Sedky and the Managing Director at National Bank of Kuwait – Egypt, Dr Yasser Hassan. The signing ceremony was attended by a number of Zewail City faculty members and management, as well as representatives of the National Bank of Kuwait. The protocol stipulates that a number of students shall be selected to benefit from receiving the scholarships according to a specific criteria in order to ensure equal opportunities for all qualified students, and to provide a continuous resource to benefit them.

Additionally, students are required to maintain academic excellence and outstanding academic performance throughout their term at the university. “Research has shown that there is no higher return on investment than science and scientific development, but we have to admit that no matter how large budgets get, Zewail City won’t be able to accomplish this difficult task on its own” said Zewail City’s Executive President, Prof Sherif Sedky “Hence we are witnessing today the importance of the close cooperation between the private sector represented by National Bank of Kuwait and civil society organizations represented by Zwail city, as a scientific research institution that promotes scientific research and innovation, in line with the objectives set forth by the higher education system and scientific research in order to achieve sustainable development in society”.

Prof Sedky expressed his happiness for signing the protocol and stressed on the importance of such steps as a milestone toward the successful completion of the project that Dr Ahmed Zewail had long dreamed of establishing to be a beacon for research in the Middle East responsible for graduating highly educated cadres with heightened awareness towards science and technology so that they would contribute to the development of the Egyptian economy and face its challenges. It also strives to propelling Egypt to a leading position among developed countries in the areas of science and research. Moreover, Prof Sedky highlighted that this partnership complements Zewail City’s cooperation efforts with private and public institutions and civil society organizations. He also expressed his hopes for continuous fl ow of support to complete the various stages of the city and achieve a breakthrough in the scientific research arena both in Egypt and the Middle East.

Meanwhile, Dr Yasser Hassan said that signing this agreement comes in line with NBK’s corporate social responsibility aimed at carrying out the bank’s prominent role to serve the society by directing its support and contributions to many non-profit organizations aimed at developing the society and the people through various means. Dr Hassan explained that the University of Science and Technology at Zewail City of Science, through its free scholarships program, sets an ideal model of trustworthy institutions that strive to utilize the support and assistance they receive in the best way possible. He added that this initiative constitutes an important part of NBK’s social corporate responsibility program as the bank strives to support such constructive developmental activities to enrich the community and contribute towards the advancement of its skillful students to showcase their scientific talents and enrich them academically in one of the best scientific research hubs in the country. Dr Hassan stressed that all civil society institutions in Egypt should extend their support and develop governmental institutions to aid them in supporting the citizens who need them the most, especially at this crucial time in the country’s history as it seeks to pave the way for a brighter future.

He also added that NBK Group’s overall policy, on the local, regional and international levels, is focused on social corporate responsibility covering the fields of education and health care as it firmly believes in their important role in building societies, developing nations and the prosperity in various fields and aspects. Zewail City of Science and Technology is a nonprofit, independent institution of learning, research and innovation. Its strategy is to build a new generation of leaders, scientists and entrepreneurs capable of having a significant impact on society. It also aims to introduce new cutting-edge fields of endeavor. The City has established a five-component structure consisting of the he University of Science and Technology, Research Institutions, the Technology Pyramid, the Academy, and the Center for Strategic Studies.

Zewail City has been able to register about 380 research papers and obtain 12 patents in the fields of health and environment, which is no small feat by any means. NBK – Egypt (previously known as Al-Watany Bank of Egypt) is a member of NBK Group and was established in 1980. The bank has a network of 45 branches situated at various strategic locations across Egyptian governorates and cities including Cairo, Giza, Alexandria, Delta, Sinai, the Red Sea, and Upper Egypt, as well as industrial areas like Sixth of October, and Tenth of Ramadan. NBK-Egypt is also one of the few banks licensed to offer Sharia compliant solution in addition to the conventional products through its two Islamic branches.

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