Egypt and Middle East Center for Financial and Economic Studies kicks off

The Egypt and Middle East Centre for Financial and Economic Studies announced the launch of its work in Cairo to contribute to the definition of opportunities and challenges in the Egyptian and Arab economies and the Middle East region and to provide specialized research in strategic studies in Egypt and the Middle East from the interactive perspective between the economy and the business world.

Ashraf Hajar was chosen as the Director of the Centre in Egypt, Dubai and Saudi Arabia, and Hajar has more than thirty years of experience in the economic and financial sector in Egypt and the Middle East, and Hamdi Abdel Jayed was chosen as the Executive Director of the Centre.

The Bureau includes Amer Ibrahim, Head of the Local Financial Studies Sector, Tamer Nosier, Head of the Local Economic Studies Sector, and Mustafa Hosni, Head of the International Economic Studies Sector.

Hajar stressed that the idea of establishing the Egypt and Middle East Centre for Financial and Economic Studies comes from a national perspective and in line with the importance of the role of research centres in developing solutions and policies that support the state in facing various challenges, especially economic, financial and social.

Hajar explained that the centre aims to achieve integration and interaction between the activities of economics and business administration through the use of the expertise of a group of experts and cadres specialized in economics and business administration.

He added that the centre also has a social role that is no less important than the economic aspects, which is represented in spreading economic and financial culture, training and preparing financial and economic cadres of graduates and researchers from Egyptian and Arab universities, in addition to providing technical advice to government agencies and non-profit entities.

The Director of the Egypt and Middle East Centre for Financial and Economic Studies stressed the need to raise the value of resorting to specialized consultants and research centres that always have solutions outside the traditional frameworks to address the obstacles that exist everywhere in life.

He pointed out that the centre has developed a strategy to deal with the most prominent challenges facing the Egyptian economy during 2024, through a set of solutions, including activating the role of the stock exchange in financing projects, removing huge procedural obstacles in the way of obtaining appropriate financing, and opening the door for imports of all production requirements and non-recreational consumer goods.

He added, The Centre also proposes to remove procedural obstacles to existing Egyptian projects of customs, tax and administrative procedures and leave the foreign exchange market free to the forces of supply and demand, in addition to the state's adoption of the vision of repayment of international debt through the trade balance surplus and not through borrowing.

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