Latest news with #MohamedAli
See - Sada Elbalad
10-05-2025
- General
- See - Sada Elbalad
Journey to 1930s Egypt: Boissonnas Legacy Brought Back to Life in Cairo
Rana Atef On Thursday, the anticipated exhibition of Egypt: A Photographic Portrait by Frédéric Boissonnas was opened. This exhibition presents the exceptional works of the late Swiss photographer Frédéric Boissonnas (1858–1946), with a focus on his photographic journey in Egypt. Boissonnas was invited by the late King Fuad I to tour Egypt, including the magical lands of Sinai, and undertake an extensive photographic mission. The results of the mission were collected in a monumental book called Egypt (L'Égypte) in 1932. The book was widely celebrated in several ceremonies, and a grand exhibition was hosted at the Royal Geographical Society in Cairo. However, the legacy of the late Swiss photographer faded. Therefore, the Library of Geneva and various Swiss parties preserved the complete collection of around 4,000 photographs. Hosted at the Goethe-Institut in Tahrir as part of Cairo Photo Week activities, the opening of the exhibition witnessed the presence of the Embassy of Switzerland's Charg ée d'Affaires a.i Elisabeth Gilgen, Goethe-Institut Cairo Director Lilli Kobler, and the late King Fuad's great-grandson, Prince Mohamed Ali. During her remarks at the opening, Kobler welcomed the guests to the event, expressing her gratitude for the institute's cooperation with the Swiss Embassy in Cairo and Cairo Photo Week. On her side, Gilgen thanked the Goethe-Institut and said that the exhibition is a celebration of the 90th anniversary of the mutual relationship between Egypt and Switzerland. She said, "This celebration allows us to reflect on the nine decades of cooperation, friendship, and mutual respect between the people and the nations of Switzerland and Egypt." The Swiss official also welcomed Prince Mohamed Ali, the great-grandson of King Fuad I, who called Boissonnas to conduct this photographic mission in Egypt. Prince Mohamed Ali told SEE News that he is happy to be there, as this exhibition is a connection with the family. He asserted that the goal of King Fuad was to make these photos represent Egypt to the world. "He wanted the world to know Egypt, not only the Muslim part of Egypt but also the Coptic part." Among the exhibited photos were rare shots of prayers inside Al Azhar Mosque and worshippers inside the Monastery of Saint Anthony and Saint Catherine's Monastery. The member of the Egyptian royal family added that this exhibition is a tribute to Egypt, not just for his family. He also appreciated the efforts of President Abdel Fattah El Sisi as he acknowledged the existence of the family and established peace between modern Egypt and the time of the kingdom. The exhibition reflects the good ties between the Swiss Embassy in Egypt and other European partners, such as the Goethe-Institut, on the lands of Egypt. Gilgen praised the cooperation between the Swiss Embassy and the Goethe-Institut, as they were driven by the close relationships between Switzerland and Germany in terms of people, culture, and language. The Swiss official told SEE News, "The idea of the exhibition was conceived a long time ago. We heard about the work of the photographer, and we were looking for a special occasion." She highlighted that the occasion is celebrating the 90th anniversary of the Friendship Treaty between Egypt and Switzerland. "Together with our partners, the Goethe-Institut and the University of Geneva, we have the curator here, and then we collaborated with them." On the presence of Prince Mohamed Ali, she said, "It's a great honor for us that his great-grandson, Prince Mohamed Ali, is here tonight with us." Gilgen further described the exhibition as reflecting the essence of Egypt and its people between the past and the present: "There are still many similarities because it captures really the essence of what Egypt was and what Egypt still is." The Swiss official also praised the close ties between Egypt and Switzerland in all fields. On her side, Kobler reflected that she is happy that the Goethe-Institut is hosting the exhibition as part of their cooperation with the Swiss Embassy in Cairo and the framework of Cairo Photo Week. She asserted that the institute is working on creating more spaces for independent and promising Egyptian artists. As the exhibition continues to draw attention to the rich cultural history of Egypt through the lens of Boissonnas, it serves as a reminder of the enduring ties between Switzerland and Egypt. The legacy of Boissonnas' photographs not only highlights a shared past but also reinforces the importance of cultural exchange in strengthening international relations. 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Yahoo
16-04-2025
- Politics
- Yahoo
Al-Shabab fighters attack strategic town in central Somalia
The al-Shabab armed group has claimed to have seized control of Adan Yabaal, a town in central Somalia and a logistical hub for the government forces, about 220 kilometres (130 miles) north of the capital, Mogadishu. The fighters launched the raids before dawn on Wednesday, forcing the army to retreat after fierce battles, according to a security officer quoted by the Anadolu news agency. However, the report was disputed by the army. Captain Hussein Olow, a military officer in Adan Yabaal, told the Reuters news agency that government troops had pushed the group back. 'The terrorist militants launched a desperate attack on the Somali army positions in the Adan Yabaal district this morning,' Somali captain Mohamed Ali told the AFP news agency from a nearby town. 'There was heavy fighting still going on in some parts of the town,' he said. There were no reports of casualties. Al-Shabab has been fighting the Somali government for more than 16 years and frequently targets government officials and military personnel. Adan Yabaal has strategic military significance and serves as a critical logistical hub connecting Hirshabelle state to the neighbouring central state of Galmudug. It was recaptured from al-Shabab in 2022. 'After early morning prayers, we heard a deafening explosion, then gunfire,' Fatuma Nur, a mother of four, told Reuters by phone from Adan Yabaal. 'Al-Shabab attacked us from two directions,' she added. President Hassan Sheikh Mohamud, who is from the area, visited the town in March to meet with military commanders there. A new African Union peacekeeping mission replaced a larger force at the start of the year, but its funding is uncertain, with the United States opposed to a plan to transition to a United Nations financing model.
Al Jazeera
16-04-2025
- Politics
- Al Jazeera
Al-Shabab fighters attack strategic town in central Somalia
The al-Shabab armed group has claimed to have seized control of Adan Yabaal, a town in central Somalia and a logistical hub for the government forces, about 220 kilometres (130 miles) north of the capital, Mogadishu. The fighters launched the raids before dawn on Wednesday, forcing the army to retreat after fierce battles, according to a security officer quoted by the Anadolu news agency. However, the report was disputed by the army. Captain Hussein Olow, a military officer in Adan Yabaal, told the Reuters news agency that government troops had pushed the group back. 'The terrorist militants launched a desperate attack on the Somali army positions in the Adan Yabaal district this morning,' Somali captain Mohamed Ali told the AFP news agency from a nearby town. 'There was heavy fighting still going on in some parts of the town,' he said. There were no reports of casualties. Al-Shabab has been fighting the Somali government for more than 16 years and frequently targets government officials and military personnel. Adan Yabaal has strategic military significance and serves as a critical logistical hub connecting Hirshabelle state to the neighbouring central state of Galmudug. It was recaptured from al-Shabab in 2022. 'After early morning prayers, we heard a deafening explosion, then gunfire,' Fatuma Nur, a mother of four, told Reuters by phone from Adan Yabaal. 'Al-Shabab attacked us from two directions,' she added. President Hassan Sheikh Mohamud, who is from the area, visited the town in March to meet with military commanders there. A new African Union peacekeeping mission replaced a larger force at the start of the year, but its funding is uncertain, with the United States opposed to a plan to transition to a United Nations financing model.
Daily News Egypt
12-04-2025
- Business
- Daily News Egypt
ADIB joins ‘Chapter Zero Egypt' to advance climate governance, sustainability goals
Abu Dhabi Islamic Bank–Egypt (ADIB Egypt) has officially joined the 'Chapter Zero Egypt' initiative, a strategic step that underscores the bank's strong commitment to sustainability and climate governance. This move reflects ADIB Egypt's alignment with global environmental, social, and governance (ESG) standards and further enhances its role in promoting sustainable finance in Egypt's banking sector. Membership in 'Chapter Zero Egypt' grants the bank access to a wide network of climate governance experts, supporting its efforts to deepen the integration of sustainability into its corporate strategy and operations. The initiative is part of a broader push to foster responsible corporate practices and advance Egypt's national agenda for sustainable development. 'We believe it is our responsibility to help shape a green and sustainable future for the coming generations,' said Mohamed Ali, CEO and Managing Director of ADIB Egypt. 'Our philosophy rests on the idea that financial success and sustainability go hand in hand. That's why we're constantly innovating to deliver simple, convenient banking solutions that reflect the highest sustainability standards and contribute to a better tomorrow.' He added: 'Through our participation in 'Chapter Zero Egypt,' we will continue to uphold international standards, adopt environmentally responsible practices, and support our clients in making a more inclusive and just transition toward sustainability.' In recent years, ADIB Egypt has made substantial progress in embedding ESG principles across its operations. The bank has introduced energy-efficient practices in its branches, launched green financing products, and worked to systematically reduce its carbon footprint. It has also aligned its operations with the goals of the Paris Climate Agreement and adopted environmentally responsible policies in areas such as procurement, waste management, and resource efficiency. The bank's ongoing efforts are supported by regular carbon footprint reporting, ensuring transparency and accountability in its sustainability performance. These practices not only reduce the environmental impact of its own operations but also empower clients to adopt sustainable business models and lower their emissions. By integrating sustainability into all aspects of its business, ADIB Egypt continues to position itself as a leader in responsible finance. The bank acknowledges the financial sector's pivotal role in addressing climate challenges and is committed to driving the transition toward a low-carbon, inclusive economy—both through its internal practices and its support for clients on their sustainability journeys.
Zawya
17-02-2025
- Business
- Zawya
ADIB-Egypt's strategy, future vision to strengthen its market position are on right track: CEO
Egypt - Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt) is progressing as planned with its strategy and future vision to fortify its market position. This is according to Mohamed Ali, CEO and Managing Director of the bank, who reaffirmed its leadership in innovation through distinguished, Sharia-compliant financial solutions. 'We take pride in our achievements and our position as the best and largest Islamic bank in Egypt,' Ali commented. 'Our outstanding financial performance reflects a strong commitment to comprehensive growth.' He emphasised that ADIB-Egypt has become synonymous with innovation in financial products and banking services, all while adhering to principles of discipline and Sharia compliance. Ali also highlighted the bank's active participation in several sustainability and sustainable finance initiatives in Egypt, reinforcing its commitment to integrating environmental, social, and governance (ESG) practices. Leading the Islamic Banking Sector ADIB-Egypt's performance in 2024 has further cemented its position in the Egyptian banking sector. According to Ali, the bank's tangible results reflect its strong financial performance throughout the year, strengthening its status as the top Sharia-compliant bank in Egypt. In 2024, the bank attained the highest standards of quality and innovation in its banking services, with its strong financial results securing its place as the leading Islamic bank. It also dominated key financial indicators, including assets, deposits, and loans. Looking ahead, ADIB-Egypt remains committed to its banking vision, particularly in retail banking, innovation, digital products, and corporate services. The remarkable performance across all banking activities in 2024, coupled with the bank's commitment to social responsibility, has driven significant growth. Furthermore, its subsidiaries also recorded notable increases in profits and revenues, enhancing the bank's overall success and recognition. Consolidated Financial Results ADIB-Egypt's consolidated financial statements reveal a surge in net profits to EGP 9.02bn in 2024, a 93% increase compared to 2023. Ali noted that the bank's total revenue increased to EGP 18bn, marking a 66% growth, while net income from fees and commissions rose by EGP 337m to reach EGP 1.9bn, reflecting a 22% increase. In line with its commitment to delivering value to shareholders, ADIB-Egypt plans to distribute bonus shares at a ratio of one free share for each existing share, with a total allocation of EGP 6bn, representing a 100% distribution. Financial Position and Growth Rates The bank's financial indicators for 2024 show a 61% increase in total assets, reaching EGP 260.5bn by December 2024, compared to EGP 162.3bn at the end of 2023. This growth was driven by an increase in the total financing portfolio for customers and banks to EGP 104.4bn, compared to EGP 67.9bn in 2023, marking a 54% increase. The growth in total financing was supported by a 53% expansion in the retail loan portfolio, which reached EGP 28bn by the end of 2024, compared to EGP 18.3bn in 2023. Meanwhile, the corporate and bank financing portfolio grew by 54% to reach EGP 76.4bn, up from EGP 49.6bn in the previous year. Additionally, net placements with banks grew by more than 100% in 2024, reaching EGP 98bn. The net investment portfolio also increased by 24%, adding EGP 8bn to reach EGP 42bn. On the deposit side, customer deposits surged to EGP 200bn by the end of 2024, reflecting a 57% growth compared to 2023, when deposits stood at EGP 127bn. This increase was primarily driven by a 50% rise in individual deposits, which reached EGP 87bn (an increase of EGP 29bn), as well as a 63% increase in institutional deposits, adding EGP 44bn to reach a total of EGP 113bn. In terms of efficiency indicators, the capital adequacy ratio stood at 17.21%, while the return on equity reached 48.7%. Additionally, the cost-to-income ratio improved to 17.4%, reflecting a 3.6% increase. Expansion Plan ADIB-Egypt continued its expansion strategy throughout 2024, increasing its branch network to 72 locations. The bank aims to open eight new branches in 2025 as part of its efforts to expand its geographic reach and improve customer accessibility. The bank also operates 139 ATMs in key locations, further supporting its growth strategy. Corporate Social Responsibility ADIB-Egypt continues to support critical sectors such as healthcare, education, and underprivileged communities through direct contributions and partnerships with governmental and non-governmental organisations. This forms part of the bank's ongoing commitment to corporate social responsibility (CSR). One of the bank's most notable CSR initiatives in 2024 was signing a cooperation protocol with Ahl Masr Burns Hospital, the first free burns treatment hospital in Egypt, the Middle East, and Africa. 39 Global Awards ADIB-Egypt's outstanding performance has been recognised with 39 global awards, highlighting its achievements and leadership in Islamic banking. These awards reflect the bank's excellence in financial services, innovation, and customer satisfaction. The awards covered various categories, including digital banking, fintech innovation, sustainability, and sustainable finance. Notably, ADIB-Egypt received six awards for being the best sustainable Islamic finance bank, further reinforcing its commitment to responsible banking.
