Sons Honor Alumna Nevine Loutfy with Memorial Emergency Scholarship Fund
Honoring their mother’s legacy, brothers Assem Raouf Abdel Hady (MBA ’16) and Omar Raouf Abdel Hady established the Nevine Loutfy Memorial Emergency Scholarship Fund, to which they generously donated.
“My brother Omar and I donated to AUC for several reasons,” said Assem. “First and foremost, my mother was extremely fond of AUC. She was a very proud AUC alum and always made herself available to the University, but more importantly, her experience there helped shape her outlook on life –– an outlook with which she achieved great success. It reinforced in her meritocratic ideals, open-mindedness and brought her a glimpse of the world beyond Egypt, which in turn greatly increased her curiosity. That resulted in a very successful international career, but it also allowed my brother and me to receive a very special upbringing. For that reason alone, we will always be indebted to AUC, and for the rest of my life, I will contribute to AUC in any way that I am able to.”
Assem added that their donation to this fund was also inspired by their recognition of the “urgent need for families that were struggling with the school’s fees in light of the recent currency flotation.”
Nevine Loutfy ’74, who was tragically killed last November in her 6th of October home, was a trailblazer, becoming the first female CEO of an Islamic bank in the Arab world. Previously, Loutfy held several top positions in banks in Europe, the United States and Egypt, most recent of which was CEO and managing director of the Abu Dhabi Islamic Bank. She was also a member of the Dean's Strategic Advisory Board at AUC's School of Business. With a career that spanned more than 30 years in financial capitals, Loutfy applied and built on her skills gained at AUC with her BA in economics.
In addition to witnessing his mother’s devotion to AUC, Assem’s own experience at the University inspired he and his brother’s donation. “My experience at AUC as an MBA student convinced me that this is one of the most efficiently and professionally managed institutions in Egypt, and I felt that our donation wouldn’t be wasted there; it will reach those who need and deserve it most,” he said. “The value of an AUC education is, in my opinion, priceless. Students learn skills and acquire knowledge that will help them throughout their lives, while hopefully instilling in them the ideals of a liberal arts education.”
As Assem and his brother know well, their continued support of AUC is a beautiful testament to their mother’s groundbreaking accomplishments and her legacy. “This donation shows that my mother brought up her children to give back and contribute to this world in a positive manner, and to be kind and helpful to those in need,” he noted. “The donation also shows that she instilled in us certain values that an AUC education embodies: to be open to others; to be respectful of others’ beliefs; that success should be based on merit, not on lineage or gender or religious background; and that an education guarantees you a way to earn a living for the rest of your life. She always stressed that last point. I think the way we can honor her legacy is to instill in others these principles that she lived by. I hope this donation and the next one help achieve that.”