The American University in Cairo (AUC) has recently signed a memorandum of understanding (MoU) with financial investment company Luqman Weise Capital in order to launch the Luqman Weise Capital Master’s Scholarship for Financial Technology at AUC.
The scholarship aims to support distinguished Egyptian students who would like to pursue their master’s degree in financial technology starting from the spring of 2018. The scholarship will support 14 students with $280,000 over the period of three years.
The signing ceremony was attended by members of the advisory board of the scholarship programme, including Dr. Mikihide Yamazak, head of Luqman Weise Capital’s private equity division; Dr. Mohamed Khater, Luqman Wiese Capital’s chief investment adviser; Omaima Hatem, professor at the Business Administration Faculty in Edinburgh; and Francis J. Ricciardone, president of AUC.
“I am very thrilled about the decision made by our company to sponsor the financial technology sciences master’s at AUC. Through this programme, we hope to play a role in the advancement of the banking system in Egypt. We also look forward to interacting with students and providing them with jobs once they are done studying,” Yamazak said during the signing ceremony.
The scholarship requires spending 120-240 hours of training with Luqman Weise during the programme’s period. The best students may get a chance to work at the company or one of its sister companies after they complete the programme.
“We are very thrilled to fund and support this scholarship at AUC, and I am very confident in the abilities of my country’s youth to innovate and create. I believe what we lack now are the skills that enable these brains from contributing with high value. We hope this scholarship provides young people with the necessary skills to help them innovate,” Khater said.
“The Business Administration College at AUC pays much attention to entrepreneurship, especially in the field of financial technology. Now we will have the ability to focus on this sector with the help of Luqman Weise,” said Ricciardone.
He also shed light on the role of Omaima Hatem, saying, “As a distinct businessperson, academic writer, and a specialist in entrepreneurship internationally, Omaima saw room for cooperation between AUC and Luqman Weise through her cooperation with them. They are pioneers in the field of financial technology”.
Hatem said that Dr. Yamazak and Dr. Khater have a message to change the way the banking system operates. “Both have a deep understanding and great interest in the impact of automated learning and massive data on the banking system. They work together to build the next generation’s trade platforms. They also believe in the importance of providing the necessary skills and opportunities for anyone who wants to contribute to the financial technology revolution,” she added.