Alaa Farouk has been appointed as the new Minister of Agriculture, succeeding El-Sayed El-Kosayer. Farouk, who previously served as the Chairperson of the Agricultural Bank of Egypt (ABE) since February 2020, brings a wealth of experience and a track record of significant contributions to government-led agricultural initiatives and rural development.
Farouk holds a Bachelor’s degree in Business and Commerce from Ain Shams University and has over 30 years of extensive banking experience. Under his leadership, the Agricultural Bank of Egypt transformed from a specialized institution into a comprehensive, full-service bank serving various sectors. His efforts not only established the bank as a cornerstone of financial inclusion in Egypt but also facilitated substantial growth in the agricultural sector.
During Farouk’s tenure, the Agricultural Bank of Egypt saw notable improvements in performance metrics, successfully supporting the agricultural sector and promoting sustainable rural development.
Before his role at ABE, Farouk had an extensive career at the National Bank of Egypt. He joined the bank in 2008 as the Regional Manager for Alexandria and later held various positions in Cairo, including Deputy Head of Branches, Head of Products and Retail Banking, and ultimately, Chief Executive Officer for Banking and Branches.
Farouk also gained experience working with several private banks, including Barclays Bank, one of the largest foreign banks operating in Egypt until its market exit in 2016.
Farouk’s appointment is expected to bring continued progress and innovation to Egypt’s agricultural sector, building on the foundation laid by his predecessor.
