H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development & International Cooperation, Begins Meetings with Affiliated Entities by Meeting with Executive Management of the National Investment Bank (NIB)

 "Al-Mashat": We are continuing efforts to restructure the National Investment Bank (NIB) and enhance its role as one of the economic and investment arms of the Government of Egypt

 

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation and Chairperson of the Board of Directors of the National Investment Bank (NIB), initiated her meetings with the affiliated entities by meeting the Bank’s executive management at its headquarters, in the presence of Mr. Ashraf Negm, Vice Chairman of the Board of Directors and Managing Director, Mrs. Dalia Mustafa, Assistant Managing Director for Investment and Resources, and Supervisor of the Financial Affairs and Final Accounts Sector, and Mr. Sayed Zakaria, First Deputy of the Bank for the Administrative Apparatus, Mr. Khaled Mustafa, the bank’s first deputy for debt collection and settlement, Mr. Mohamed Abdel Aal, the bank’s advisor for banking development and digital transformation, Mr. Mahmoud Al-Leithi, the bank’s first deputy for central affairs, and other executive officials.

 

During the meeting, H.E. the Minister of Planning, Economic Development and International Cooperation and the Chairman of the Board of Directors of the National Investment Bank NIB applauded the significant development achieved by the bank over the past period, both with regard to internal development and settling financial entanglements with various entities within the country, stressing the government's keenness to move forward with the plan to develop and restructure the National Investment Bank, to maximize its role as one of the economic and investment arms that support the state's development efforts, work to implement the economic and social development plan, and support Egypt's Vision 2030.

 

Dr. Rania A. Al-Mashat explained that the current period requires more work and joint effort to achieve tangible results to achieve the government program’s goals, especially those related to enhancing the attractiveness of the Egyptian economy to investments and supporting competitiveness, In addition to building the human being and increasing investment in human capital, she added that the National Investment Bank has great capabilities that qualify it to play a greater role in supporting this trend. At the same time, she confirmed  the importance that the government attaches to the pillars of industrial development and human development due to their vital role in advancing the national economy and achieving a direct impact on development felt by the citizens.

 

Al-Mashat emphasized the role of the National Investment Bank in contributing to the advancement of government investment and enhancing its efficiency to support economic and social development efforts in Egypt, and financing, monitoring and implementing projects, within the framework of its vital role in maximizing the developmental impact of these projects.

 

For his part, Mr. Ashraf Negm, Vice Chairman and Managing Director of the National Investment Bank, welcomed Dr. Rania A. Al-Mashat and congratulated her on assuming the portfolio of Planning, Economic Development and International Cooperation; pointing out that the bank has witnessed a major change over the past years to support the development process in the country, and it is moving forward to develop internal work mechanisms in a way that enhances the efficiency and effectiveness of work, so that the possessed resources and capabilities are utilized, in addition to the role it plays in supporting the economic development efforts in the country through its subsidiaries.

 

During the meeting, the bank’s leaders reviewed the work and development plans, and the Minister listened to a detailed explanation of the bank’s sectors and their performance, especially with regard to the investment and resources sector, the bank’s investments in affiliated companies, and various economic activities that support development efforts in the country.

 

H.E. also listened to a presentation on the continuation of the comprehensive digital transformation project in the bank, and the development and automation of the accounting system, which reflects on the efficiency of the bank’s financial and operational performance to deal with future variables, and provide qualitative reports that support decision making in the process of implementing the investment plan, in addition to automating the bank’s core business to achieve optimal performance, and visited the bank’s data center.

 

In this regard, H.E. Dr. Rania A. Al-Mashat highlighted the role played by the late Engineer Ashraf Abdel Hafeez, Assistant Minister for Digital Transformation and Information Infrastructure Affairs, in cooperation with  the National Investment Bank officials, in implementing the digital transformation project in the bank.