The American University in Cairo (AUC) and Luqman Weise Capital signed a memorandum of agreement (MOU) recently in New York to establish the Luqman Weise Capital FinTech Fellowships Fund at AUC. The Fund is designed to support highly qualified Egyptian students who are interested in pursuing full time graduate studies in the field of master's of science in finance at AUC.Starting spring 2018, the Luqman Weise Capital FinTech Fellowship Fund will support 14 fellowships for Egyptian students at AUC at the cost of $280,000 across two cohorts over a period of three years.
The signing ceremony was attended by members of the FinTech Program advisory board Dr. Mikihide Yamazaki, director of Luqman Weise Capital and head of its private equity division; Dr. Mohamed Khater director of Luqman Weise Capital and its chief investment advisor; Dr. Omaima Hatem, University of Edinburgh, Business School; and Francis Ricciardone, president of AUC.
“I’m very excited about the decision that our company has taken to fully sponsor the MSc in Fintech at the AUC,” said Yamazaki. “Through this program I’m hoping that we can play a small role in advancing the banking and investment system in a great country like Egypt. We look forward to engaging with students through this course and through employment opportunities once they complete their studies,” he added.
Fellowship recipients will be required to complete 120-240 hours of internship with Luqman Weise Capital during the program. Luqman Weise Capital is a private investment fund aimed at engineering investment portfolios that go beyond traditional wealth management offerings. Top performing fellowship recipients may be eligible for employment opportunities after program completion with Luqman Weise Capital or one of its sister companies.
Khater, also said: “I have a strong trust in the youth in my country and their ability to innovate and create. I think what is missing are the skills to enable these bright minds to contribute to the global value chain. Through this course we are hoping to equip Egyptians with the necessary technical and soft skills that will enable them to become innovative in the Fintech world.”
Ricciardone said that with AUC’s School of Business emphasis on entrepreneurship and innovation and particularly in the FinTech field, “we will now be able to put particular emphasis on FinTech and establish the first concentration in degree studies in the region and in Egypt with the help of Luqman Weise Capital.”
Ricciardone also highlighted the role of AUC alumna Dr. Omaima Hatem in bringing together Luqman Weise Capital and AUC, saying, “As a distinguished business woman, academic and published author on how entrepreneurship and innovation works in the world, Dr Omaima recognized that AUC’s School of Business is one of the top one per cent in the world that has triple crown accreditation, with an international recognition as being among the best and she knew from her business associations with Luqman Weise Capital, who are leaders and visionaries in FinTech that there is something that we can do together,” he said.
Hatem said at the signing, “Dr Mikihide Yamazaki and Dr Mohamed Khater are men with a mission to change the way the banking system works. Both have a deep understanding and fascination with what machine learning and big data can contribute to the banking system. Together they are working on building the next generation trading platforms and they believe that everyone who is interested in contributing to this Fintech revolution should be given the skills and opportunity to do so.”