Cairo – Mubasher: Al Baraka Bank Egypt has announced the signing of a cooperation agreement with Magdi Yacoub Heart Foundation (MYF) in line with the lender’s ongoing commitment to corporate social responsibility (CSR).

Under the agreement, the bank will donate EGP 30 million to sponsor the Pediatric Outpatient Department at the new Magdi Yacoub Global Heart Centre in Cairo.

The CEO and Vice Chairman of Al Baraka Bank Egypt, Hazem Hegazy, said: “We take pride in our ongoing partnership with Magdi Yacoub Heart Foundation, which represents a global model for specialized medical care in Egypt. Our EGP30 million donation to support the Pediatric Outpatient Department builds on a long-standing collaboration and reflects our bank belief that investing in children’s health is an investment in the future of society as a whole.”

Hegazy noted: “This initiative is neither the first nor will it be the last, as social responsibility constitutes a core pillar of Al Baraka Bank – Egypt’s strategy. Through it, we strive to create a sustainable impact that goes beyond financial support to empowering institutions capable of driving real change in people’s lives—aligned with our Shariah-compliant banking values that place people at the forefront of our priorities.”

The donation represents a new chapter in a series of joint initiatives between Al Baraka Bank Egypt and the medical foundation, building on the previous contribution to supporting the Cardiac Care Unit (CCU) at the new Magdi Yacoub Global Heart Centre in Cairo, reaffirming its ongoing commitment to supporting Egypt’s healthcare system and fulfilling its steadfast vision of directing community investments toward projects with a sustainable impact, particularly within the healthcare sector.

Meanwhile, Dina El-Gazzar, Chief Development and Fundraising Officer at Magdi Yacoub Heart Foundation (MYF), said: "We highly value this initiative, which will directly contribute to accelerating the pace of work and enhancing the capabilities of the Pediatric Outpatient Department at our new center in Cairo.”

El-Gazzar added: “This donation will enable the Foundation to provide advanced medical services and accommodate a larger number of young patients.”

The Pediatric Outpatient Department at the new center will provide precise medical examinations and modern diagnostic services to thousands of children annually, contributing to elevating the quality of free-of-charge healthcare in Egypt.

This aligns with the comprehensive vision of the new Magdi Yacoub Global Heart Centre in Cairo, which is designed with a capacity three times larger than that of the Aswan Heart Centre.

Moreover, the new facility aims to serve up to 120,000 outpatient visits per year and treat approximately 12,000 patients, a large percentage of whom are children.

It is worth noting that Al Baraka Bank Egypt registered consolidated net profits after tax worth EGP 4 billion in 2025.