June 18,
2017, Cairo – The American University in Cairo (AUC) held a press conference with Emirati businessman and philanthropist, H.E. Abdul Aziz Al Ghurair, CEO of
Mashreq Bank and Chairman of the Abdulla Al Ghurair Foundation for Education
(AGFE), one of the largest privately funded
philanthropic education initiatives in the world, to discuss the
foundation’s collaboration with AUC and its educational initiatives in Egypt
and the region. Al Ghurair, who was the keynote speaker at the commencement ceremony for AUC’s bachelor’s degree candidates this
year, received the degree of Doctor of Humane Letters, yesterday at
the ceremony in recognition of his global leadership and dedication to
transforming the educational landscape and providing learning opportunities for
deserving students throughout the Arab world. Speakers at the press
conference were H.E. Abdul Aziz Al Ghurair; Maysa Jalbout, CEO of the Abdulla Al
Ghurair Foundation for Education; Francis J. Ricciardone, president of AUC and Yousef
Berbar, a student of mechanical engineering of Al
Ghurair STEM Scholars Program at AUC.
“As Chairman of the Abdulla Al Ghurair Foundation for
Education, Abdul Aziz Al Ghurair blazes a new trail for Arab philanthropy,
built on his father’s legacy and a deep family commitment to education, said
Ricciardone addressing the media. He added that Al Ghurair’s father, who
followed in the footsteps of his grandfather before him, constructed the first
co-ed boarding school in the Northern Emirates in 1964. Inspired by his faith
and a sense of duty to advance the Emirates and the Arab world, his father gave
a third of his wealth to establish his family foundation last year. “In his role
as the Foundation’s Chairman, Abdul Aziz Al Ghurair bring his business acumen
and a results-driven focus that set an example of philanthropy at its best,
Ricciardone said.
Emphasizing
the role of businessmen to give back to their societies, Al Ghurair noted “Philanthropists
have an important role to play in our region. We need to work in partnership
with government, civil society and the private sector to address the most critical
challenges we are facing. We must focus on the best investments we can make,
especially education, and insist on results in the same we do in our
businesses”.
Launched in July 2015 with an
investment of $1.1 billion, the Abdulla Al Ghurair Foundation for Education has
committed to reaching a minimum of 15,000 Arab youth over the next 10 years,
equipping them with the knowledge and skills they need to fulfill their promise
as the future leaders of the region. A Memorandum of Understanding (MoU) was
signed between the foundation and AUC in 2016 to create opportunities for
high-achieving, underserved Arab youth to access and succeed in higher
education through the foundation’s Science, Technology, Engineering, and Math
(STEM) Scholars Program. A scholarship program was established under the name
of Al Ghurair STEM Scholars that targeted
high-achieving Arab students, while AUC facilitated academic, career and
mentorship support, as well as community service and internship opportunities
that Al Ghurair STEM Scholars need to succeed in their education and future
employment.
AUC is one of only four
regional universities to partner with AGFE. Today, AUC is the only partner in
Egypt and one of 12 universities around the world, including some of the best
schools in Canada and the USA such as McGill University and MIT.
The first cohort of students
enrolled at AUC for the 2016 fall and spring semester, included 43 Al Ghurair scholars, both undergraduate and
graduate students. By fall 2017, the number will increase to reach 100 scholars
at AUC, who are bright, performing and deserving students from Egypt and the
Arab world.
“We are
thrilled to be more than doubling the number of students this coming academic
year," said Maysa Jalbout, CEO of AGFE."
"The Abdulla Al Ghurair Foundation
in Education and The American University in Cairo are committed to continuing
to expand our partnership in service of deserving Arab youth,” Jalbout added. In addition to the 100 Ghurair scholars, AUC offers more than 90 named scholarships supported by individuals and corporations to support underserving brilliant students who are not able to afford education at AUC. This fall, 2720 students received scholarships at AUC. In addition, more than 50 percent of students receive some form of assistance with tuition.
Further
demonstrating his commitment to service, Al Ghurair is the president of
FBN GCC, a nonprofit international network that is run by family businesses,
for family businesses. Al Ghurair is also a trustee of New York University
President’s Global Council and is on the board of directors of Emirates
Foundation.
Since
2012, Al Ghurair has been the chairman of the UAE Banking Federation. Moreover,
he is the vice chairman of the higher board of Dubai International Financial
Centre, and chairman of Masafi Company and Oman Insurance.
Al
Ghurair has received numerous honors and recognitions for his leadership in
business and philanthropy, such as the Innovator of the Year and Lifetime
Achievement Awards from Gulf Business Industry Awards, Best CEO Award from CEO
Middle East magazine, Lifetime Achievement Award from The Arab Bankers
Association of North America and many more.
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Founded
by Abdulla Ahmad Al Ghurair in July 2015, the Abdulla Al Ghurair Foundation for
Education provides high-achieving, underserved Emirati and Arab youth with
unrivalled educational opportunities. The Foundation’s board of trustees is
chaired by His Excellency Abdul Aziz Al Ghurair, Abdulla Ahmad Al Ghurair’s
son. The Foundation’s primary focus is to create opportunities for at least
15,000 promising Arab youth from underprivileged backgrounds and help them
prepare for university, work and life. With an initial budget of AED 4.2
billion over the next 10 years, the Foundation awards scholarships based on a
highly competitive process.
The American University in Cairo (AUC) was
founded in 1919 and is major contributor to the social, intellectual and cultural
life of the Arab Region. It is a vital bridge between East and West, linking
Egypt and the region to the world through scholarly research, partnerships with
academic and research institutions, and study abroad programs. An independent,
nonprofit, apolitical, non-sectarian and equal opportunity institution, AUC is
fully accredited in Egypt and the United States