Ahmed Kamel – Egypt Daily News
The Governor of the Central Bank of Egypt (CBE), Hassan Abdallah, has announced that the bank will fully cover the living and accommodation costs of 765 university students affected by the suspension of the US aid programme, reaffirming the state’s commitment to protecting educational opportunities for outstanding students.
Abdallah said the Central Bank’s support for education goes far beyond the provision of grants, extending to capacity-building and the preparation of highly qualified professionals capable of meeting labour market needs. He highlighted this approach as a cornerstone of the bank’s broader development strategy, which places strong emphasis on human capital as a driver of long-term economic stability and growth.
As part of this vision, the Central Bank has launched a Bachelor’s Degree Programme in Banking Sciences, developed in cooperation with the Ministry of Higher Education and Scientific Research. The programme is described as a strategic initiative aimed at preparing a new generation of banking professionals equipped with both academic knowledge and practical skills, enabling them to keep pace with rapid developments in the financial and banking sector.
The programme places a strong focus on intensive practical training within banks, ensuring that graduates are ready for immediate integration into the workforce. According to Abdallah, this hands-on approach is designed to produce professionals capable of contributing effectively to financial stability and supporting sustainable economic growth, reflecting the Central Bank’s goal of building a strong and resilient banking sector led by well-trained youth.
In the context of social responsibility, the governor announced that the Central Bank has assumed full responsibility for financing the living and accommodation expenses of 765 students whose studies were disrupted by the halt of the US aid programme. He stressed that this support will continue until the students complete their university education, extending through to 2028, in order to safeguard their academic future.
“This decision ensures that no high-achieving student is left without support,” Abdallah said, underscoring the state’s commitment to educational continuity and social equity. The move is intended to provide stability and reassurance to affected students, allowing them to continue their studies without financial uncertainty.
Abdallah emphasised that social responsibility is a fundamental pillar of the Central Bank’s development strategy. He described investment in education and human development as the most sustainable path toward building a strong economy, a cohesive society, and a future that reflects Egypt’s ambitions and the potential of its people.
The initiative reflects a broader national focus on strengthening education, aligning academic outcomes with labour market needs, and ensuring that economic reforms are underpinned by inclusive social policies that prioritise human development.
