Page 7 - Issue-15

ELITE ISSUE 15, JANUARY 2020 PAGE 7

I see that AlAzhar ’s role should remain in the domain of revising laws Through Al Tadamun Microfinance Foundation, we fina nce
not drafting them, as we need Al Azhar to remain a refe rence and an
women only, not out of bias in favor of women, but a bias in
arbiter. I think that the government should submit a draft law that
favor of the poor families and social development. This is
would be agreed upon by the Supreme Council for Islami c Affairs and
because women invest the proceeds of finance on the ir
Al-Azhar in a manner consistent with public policy rules under Sharia
micro-projects that benefit the children and the fa mily as a
law. The government would have to take up such a mission b y
whole. We have a repayment rate of 100%, 70 branche s from
introducing a progressive draft law asserting the rights of women
north of the Delta reaching Assiut in the South, ou r portfolio
consistent with the needs of the 21st century.
reached around 500 million EGP financing around 200

thousand women beneficiaries; all of this though on ly one
• Mona Zulficar is on the Forbes list of top 100 mos t influential
organization. As for the federation, it includes mo re than 900
women in the Arab World … Could you tell us more about this
Non-governmental Organizations and 9 private compan ies
choice?
I think that career distinction and voluntary public servic e activities
operating in the field of microfinance.
provide the basisfor such nomination. I played the key role in the
I also take pride is my work with the NCHR on draft ing the
establishment and success of the largest law firm in Egypt in the 90s,
law on equality of opportunities and the eliminatio n of
and established together with seven of the best experts in various fields
discrimination. I hope that this projectcomes to li ght as it will
of law another law firm in 2009 which quickly became o ne of the most
strengthen the concepts of citizenship and justice, as well as
important firms in Egypt and the Arab region, including 9 partners and
supporting efficiency and competence as basis for j ob
more than 60 associates.I have also been a non-executi ve Chairperson
appointments and promotion. This will also contribu te to the
of EFG Hermes Holding for 10 years now, which is the largest
elimination of corruption.
Egyptian regional investment bank, having presence in m ore than 13

countries in four continents. I am extremely proud that the executive
management of the group is led by the best Egyptian ex perts and • At the end, what advice would you give to the stu dents
investment bankers who are capable of successfully com peting in the
of the Faculty of Economics and Political Science?
emerging and frontier markets. I add to that as well my voluntary

activities in the domains of social development, human rights, w omen ’s
My advice is to make full use of their college year s and to
rights and combatting poverty through microfinance.
participate in various cultural, artistic and sport s activities
Yet, what I consider to be the most important contribution is my role in
because they help in the development of their skill s and
the development of younger generations of talented pro fessional
characters. When you search for jobs later on, they should
lawyers or through the institutions I helped in establishing. Moreover,
search for jobs in the fields you enjoy and love as this is one
throughout the past 25 years I focused on the economi c empowerment
of the secrets of success. I also advise them to pa rticipate in
of the poor through microfinance of their projects becau se that is the
sustainable way out of poverty. I founded and chair the board of a non- voluntary work because giving without expecting any thing in
governmental an organization called “Al Tadamun Microfinance
return is one of the most important sources of inne r
Foundation ”. In 2015 I got elected in such capacity as the Chairp erson
psychological health, happiness and the sense of
of the first Egyptian Microfinance Federation establish ed pursuant to
achievement; and there are many non-governmental
Law 141 for 2014,and through the significant support fr om the Central
organizations in Egypt that need the contribution o f younger
bank and the Egyptian banks as well as the Financial Reg ulatory
generations, that is your role.
Authority, we succeeded to drive a huge leap in the micro finance

industry in the past 3 years increasing the number of be neficiaries
from2 million at end 2016 with a total portfolio of EGP 6.4 Billion to
reach 3.4 million beneficiaries at end September 2019 wi th a total
portfolio in excess of EGP 23 Billion.