Language
Egypt
|
FSVC Egypt Program Key Indicators: 2003-2012 |
|
| Years Since Inception | 10 |
| Projects Completed | 146 |
| Number of Volunteers | 414 |
| Pro Bono Hours Delivered | 17,408 |
FSVC began operations in Egypt in late 2003 with funding from the Middle East Partnership Initiative (MEPI). The initial program mission focused on strengthening the Central Bank of Egypt as well as improving leading to commercial banks. Since 2003, FSVC initial program has been renewed and expanded upon by the U.S. Agency for International Development (USAID) to include development of a regulatory framework for capital markets, small and medium-enterprise lending, and improved banking regulation/supervision.
Key Accomplishments
 |
| FSVC Volunteer Aliaa Soliman (right) discussing technical issues of SME financing with a participant. |
The Egyptian SME sector has long been identified as an area of high potential growth. Yet, many budding entrepreneurs and growing SMEs are limited by poor access to the capital and tools required for efficient business expansion. To meet this demand, FSVC, in partnership with HSBC, executed projects to assist in the growth of SMEs, which included the development of a Web Portal for entrepreneurs, assessments of institutional and policy impediments to SME financing, delivery of SME-related events and trainings, as well as practical workshops tailored for budding entrepreneurs and SMEs.
Capital Markets:
In 2008, Mr. Tarek Amer, Chairmen of the National Bank of Egypt (NBE), identified FSVC to provide technical assistance in regard to proposed regulations for trading over-the-counter (OTC) derivatives products. To comment on these proposed regulations, FSVC selected volunteer experts who reviewed the procedures and potential impact of OTC derivatives. In their analysis, volunteer experts provided the NBE with four possible variations for sound credit facility agreements. As a result of the commentary project, the NBE was more capable to bring OTC derivatives transactions in line with international best practices while mitigating their associated risks.
Banking Regulation/Supervision:
In partnership with Dr. Hala El Said, Executive Director of the Egyptian Banking Institute (EBI), and the Federal Deposit Insurance Corporation (FDIC), FSVC has had an active role in improving the examination and regulation of Egyptian banks. Specifically, FSVC projects have been tailored in Egypt to create positive feedback loops by training instructors to deliver adapted FDIC course materials. Through participation in this multi-phase program, a pilot group of professional CBE instructors learned effective techniques for teaching fundamentals of bank supervision, basic bank analysis, report preparation, and operations manager training.
