Al Baraka Bank Egypt, SUTech sign MoU to empower students with EGP 20M scholarships
Updated 9/24/2025 11:47:00 AM
Arab Finance: Al Baraka Bank Egypt and Elsewedy University of Technology (SUTech) – Polytechnic of Egypt have signed a memorandum of understanding (MoU) to provide partial scholarships worth EGP 20 million to university students, as per an emailed press release.
Funded by Al Baraka Bank Egypt, the scholarships cover tuition fees for financially and academically outstanding students in need for the 2025/2026 academic year.
This partnership marks a shared strategy between the two institutions to promote world-class education in the field of technology and to support students in continuing their academic journeys without financial barriers.
The four-year agreement was signed by Hazem Hegazy, CEO and Vice Chairman of Al Baraka Bank Egypt, and Ahmed Elsewedy, Chairman of the Board of Trustees of Elsewedy University of Technology (SUTech)—Polytechnic of Egypt, at Elsewedy Electric headquarters in New Cairo.
This collaboration reflects Al Baraka Bank’s commitment to providing the financial support necessary to back students, with partial scholarships covering between 10% and 90% of tuition fees.
Meanwhile, Elsewedy University of Technology (SUTech) – Polytechnic of Egypt carries on with delivering top-tier academic programs that qualify students to earn a Professional Bachelor’s Degree in Engineering Technology and prepare them to enter both local and international labor markets.
The agreement also involves naming one of the university classrooms “Al Baraka Bank” for ten years, signaling the long-term partnership between the two institutions in facilitating students’ educational journeys.
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