Lobna Helal, a female pioneer beyond borders

Lobna Helal, the second most powerful businesswoman in the world, according to Forbes, is no stranger to breaking boundaries, setting the pace and repeatedly making history. Here is a story of doggedness and determination.

In her own words, “nothing compares to doing something that can impact a whole nation.” These are words she lives by as she takes her country to the foremost in the world’s history through her exploits.

Today, she is the deputy governor of the Central bank of Egypt.

How did her story start?

Born in the year 1961 in Germany, Helal never thought her journey will lead her to the banking sector. She had always aspired to be in the world of politics, and explore being a diplomat. This desire informed her decision to study political science at the American University in Cairo. In 1983, she bagged a B.A. in political science and went on to earn a Master’s degree in economics a few years later.

Her dream of being a diplomat was put on hold when she got married. She wanted a settled career, and banking seemed a logical choice due to her background in economics. Thus, her banking career began. Helal had no idea her dream of being one of the major players in politics in her country will soon be fulfilled.

Helal began her banking career working with different banks in Egypt, the first one being Arab African International Bank, working in their international finance and investment department. She gained experience and exposure before moving to Egyptian American Bank, where she further cemented her acumen in banking.

She later changed banks and worked with EFG-Hermes, and with growth came her first record-breaking position as the first-ever female executive director of investment banking. All these were preparing her for playing in the big leagues when the time came.

Helal joined the Central Bank of Egypt in 2004, and her first duty was to work with like-minded people on improving the banking sector by reorganization, working on mergers and acquisitions and much more. Part of her role in this reform was to oversee a consolidation program that drastically reduced the number of banks in her country, Egypt from 57 to 39. According to Helal, those reforms ‘really changed the banking sector.”

Despite her busy career and a busier home life, Helal never faltered in always delivering value. She rose to become the deputy governor of CBE late 2011, a time when it was unlikely for anyone to be promoted because it followed the financial crisis in 2008 and closely followed the political and economic turmoil Egypt experienced in the year 2011.

In 2013, Helal left CBE and went into the private sector, working with the Egyptian Mortgage Refinance Company as its chairperson and managing director. This move was short-lived though.

Her previous dedication to serving her country as CBE’s deputy governor was remembered when the bank had a new board of directors and she was re-appointed as the new deputy governor of the bank, a position she held till date.

Helal’s story is a typical example of a woman who distinguished herself for excellence and who has been rewarded for her dedication to serving her country.