EFH BOOKLET for print

Invest in yourself,

Your career is the engine

of your wealth. Paul Clitheroe

IndexFounder’s Message 1 About Us 2Our Mission 2 Our Vision 2EFH ( Financial Brains ) Profile 5

Our Courses: Certificates Prepration:

Chartered Financial Analyst (CFA) 7

Certified Management Accountant (CMA) 9

Credit Course (CC) 11

Soft Skills Courses

Emotional Intelligence at Work 14

Effective Time Management 16

Essential Marketing Skills 18

Effective Selling & Negotiation Skills for Vendors & Suppliers 19 Training Program for Skills of Excellency in Customer Service 21

Leadership Skills for Supervisors 22

Financial CoursesTechnical Analysis 24

Equity Valuation 25

Portfolio Management 28

Fixed Income 31

Corporate Finance 32

Derivative Markets 36

Market Organization and Structure 37

Financial Statement Analysis 39

Finance For Non–Financials Program (FNF) 40

SME’s Course 42

Banking Courses

Commercial Papers 46

Customer Services 47

Principles of Bank Account 49

Financial Management 50

Financial Modeling 52

Retail Banking 54

Trade Finance 55

Analyzing - Evaluating Bank Customers 56

Instructors BIO 58

Our Team 74

Our Contacts 79

Founder’s Message

Founder’s Message

Building knowledge requires various joint efforts to add a few grains to an already established mountain of knowledge. During my 25-years of both practical and academic experience, I have reached a strong belief that there is no relation between the «name» or «brand» of the educational institution and the size of the «value-addition» it provides to its students.

What matters the most is the institution's structure/organization and the quality/experience of its instructors, which represent a catalyst for an efficient transmission of knowledge from source to recipient(s).

Leveraging on the above, we have established our company to serve the MENA Region, by providing theoretical as well as practical training programs with the support of a comprehensive package of experienced instructors and high-quality learning materials. Our aim is to play a vital role in enhancing the professional and educational standard of training in the MENA Region.

Hesham Amer, CFA Founder

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About Us

“Understanding your Needs” is our Tool. Becoming the “House” of your choice is our Mission, and making you stand strong versus the fierce competition currently available in the market is our Role

Our Mission

1. Committing to professional ethics.2. Being a respected provider of knowledge in the investment fields3. Providing viable financial solutions to our clients to create value for their companies4. Offering access to the MENA investment community

Our Vision

To become The House of “Trust” and “Choice” in the MENA Region for professional support, advice and guidance to success in the investment field

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EFH Profile Learn To Excel

“True patience is grounded in

wisdom & compassion” Allan Lokos, Patience

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( Egypt Financial House )

Introduction Financial Brains is the commercial name of Egypt Financial House (EFH) which provides preparation courses for the CFA Program, Level 1 and Level 2, and other cer tificates in the field of finance in addition to customized finance courses. Financial Brains' slogan is to help individuals and institutions "Mastering the investment ar t" through high-quality financial training that involves both theory and practice. Against this backdrop, one of Financial Brains' objectives is to stand out versus competition by providing top-quality educational experience, with relevant and up-to-date study materials delivered by cer tified instructors who have strong practical experience in the finance field. Among other qualified instructors, Financial Brains' two lead instructors are Hesham Amer, CFA and Amr Hussein Elalfy, CFA. Our CFA preparation courses are delivered by CFA char terholders, who are well qualified and experienced set of instructors that have a minimum of 10 years experience in their field of exper tise. Additionally, they will build on the original Schweser Materials.This will differentiate Financial Brains from other training providers in that we have the Exclusive Copy Rights for Schweser in Egypt.

Beside training / prepration courses , Financial Brains is involved in organizing conferences in the finance / investment fields. The purpose is to provide insight into the impor tance of financial investment, stock market, and create awareness to whoever lack knowledge and is willing to learn and master the investment ar t. The conferences help in biuilding the new generation with a financial base to help them dedicate something back to their communities.

Certificates Preparation

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Chartered Financial Analyst (CFA®)

Program Overview:

The Chartered Financial Analyst (CFA) Program is a globally recognized graduate 3-level curriculum. The Program provides a strong foundation of real-world investment analysis and portfolio management skills along with the practical knowledge needed in today’s investment industry. A candidate who successfully completes the program and meets other professional requirements is awarded a «CFA charter» and becomes a «CFA charterholder.»

Objective:

While most graduate school programs cover a broad range of topics, the CFA Program focuses specifically on investment knowledge, and the self-study format allows candidates to continue working full time as they progress towards earning the CFA charter. Candidates for the CFA Program include students entering the investment field, professionals increasing their expertise and marketability, and people making a career change into the investment profession from other disciplines.

Program Topics:

1. Ethical and Professional Standards2. Quantitative Methods3. Economic Analysis4. Financial Statement Analysis5. Fixed Income Investment6. Portfolio Management7. Corporate Finance8. Market and Instruments9. Derivative Investments10. Alternative Investments

Charterholders:

The CFA charter is a qualification for finance and investment professionals, particularly in the fields of investment management and financial analysis of stocks, bonds and derivative assets. The program focuses on portfolio management and financial analysis, and provides generalist knowledge of other areas of finance.

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Candidates :

• Credit Officers • Investment Research Analysts• Portfolio Asset Managers • Investment Bankers• Students Planning to Enter the Investment Profession• Engineers / Doctors and other Non-Financial Professionals

Duration:

Four Months (120 hrs ) Three hours / Two sessions a week.

Time:

December / April / June

Certified Management Accountant (CMA®)

Program Overview:

The Certified Management Accountant (CMA) Course provides a foundation in accounting, management and strategy - using both financial and non-financial information to direct tactical and operational decision-making in industry and government. Subject matter includes strategy, management accounting, corporate finance, operations management, internal control, financial accounting, statistics and economics, with an emphasis on professional ethics.

Objective:

• To establish management accounting as a recognized profession by identifying the role of the management accountant and financial manager, the underlying body of knowledge, and a course of study by which such knowledge is acquired• To encourage higher educational standards in the management accounting field• To establish an objective measure of an individual’s knowledge and competence in the field of management accounting; and • To encourage continued professional development by management accountants

Program Topics:

PART I (33 sessions) : Financial Planning, Performance and Control

· Planning, Budgeting, and Forecasting · Performance Measurement · Cost Management · Internal Controls · Professional Ethics

PART II (37 sessions) : Financial Decision Making

· Financial Statement Analysis · Corporate Finance · Decision Analysis and Risk Management · Investment Decisions · Professional Ethics

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Candidates :

• Financial Analysts• Accounting Managers• Asset Managers• Investment Bankers• Managing Directors

Duration:

Four Months (90 hrs) Three hours / Two sessions a week.

Time:

December / April / June

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Credit Course (CC)

Program Overview:

1- Accounting2- Spreading3- Financial Statement Analysis4- Cash Flow Analysis5- Industry Analysis6- Economics7- Projections8- Lending Rational9- Structure & Term Facility10- Investment & Valuation11- Financial Modeling

Modules Outline:

1. Accounting Starting from the principals of accounting covering all the relevant treatments affecting the credit decisions including daily journal, general ledger and financial statement preparation

2. Spreading In this module the trainees will learn how to spread the audited financial statements in a standard format to ease the reading and analysis of the financial statements

3. Financial Statement Analysis The trainees will not only know how to calculate the financial statement analysis ratios but also will be able to interpret them and know how they affect the credit decisions

4. Cash Flow Analysis This module covers the mechanics of calculating the Cash Flow based on the six - block methodology and construct a “ sources “ and “ uses “ table.

5. Industry Analysis The module covers the characteristics of the industry at which the clients operate and links these characteristics to the company analysis

6. Economics Covering the most important macro and micro economic topics (e.g.: GDP, elasticity, demand and supply curves)

7. Projections The trainees will learn how to estimate the future of the target company based on its historical financial performance

8. Lending Rational The module covers three basis of lending: asset protection, asset conversion and cash flow lending 11

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9. Structure & Term Facility This module will go through structuring the loan in addition to different types of credit facilities

10. Investment & Valuation The module covers the different types of valuations (DCFs, Multiples, & NAV)

11. Financial Modeling The trainees will learn how to construct a financial model that serves both their credit and investment

decisions

Objective:

The course will focus on the credit analysis for beginners, starting from the basics of accounting, going through economics and industry analysis till valuing the targeted company. The aim is to create awareness of all aspects that affect the business cycles, financial statements and cash flow analysis, covering risks and mitigations.

Candidates:

• Fresh graduates who want to join the credit career• Bank’s branch managers who want to enhance their credit knowledge

Duration:

6 -7 months

Time:

February till October

Soft Skills Courses

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Emotional Intelligence at Work

Program Overview:

Employees with high emotional intelligence can better manage their own impulses, communicate with others more effectively, manage change well, solve problems and build rapport in tense situations. These employees also have empathy, remain optimistic even in the face of adversity, and thereby become more persuading in a sales situation and still better at resolving customer complaints in a customer service environment. Accordingly, Emotional Intelligence becomes a highly valued skill in the workplace, particularly in the Banking environment. Emotional Intelligence is defined as a set of competencies demonstrating the ability one has to recognize his or her behaviors, moods, and impulses, and to manage them best according to the situation. This course will give you the tools you need to be emotionally intelligent in your team – thereby, impacting the whole organization – when applied across.

Outline:

• What is Emotional Intelligence • Introducing the Emotional Intelligence Competencies Model • Gain basic knowledge of the core competencies defined in the Emotional intelligence model • Master tools to regulate and gain control of ones own emotions • Develop positive verbal and nonverbal messages • Be able to appreciate the Organization’s values better • Gain the skills to develop professional relationships with colleagues and clients This specialized two days workshop will be conducted as follows:

• Participants will undergo an initial EI assessment • Course Facilitator will walk the participants through each of the core competencies of the EI model to assist them enhance each of these competencies with focus on areas of improvement • Through intensive group exercises and self-reflections, participants will discover a different perspective about them and will gain further insight into their behaviors.

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Objective:

By the end of this program, participants will be able to:

- Identify their own emotions and those of others - Manage their emotions to make better decisions- Use the EI situational model to deal with employee situations - Apply emotional intelligence skills to motivate and empower others- Raise morale, inspire high performance and trust- Build more trusting relationships with their employees - Communicate more powerfully and precisely to influence others- Identify negative emotions and their impact on the workplace - Show empathy to others during change or in difficult situations- Use emotional intelligence skills to bring out the best in others- Become aware of personal emotional intelligence ‘blind spots’

Candidates:

This course is intended for all managers and leaders seeking to raise their and their teams’ barometers of emotional intelligence , in addition to individuals who desire to develop emotional intelligence in all aspects of their work and personal life

Duration:

10 hours over 2 days

Time:

June

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Effective Time Management

Module Overview:

Effective use of time – not only translates positively to the overall productivity of the organization but also impacts the individual’s self-satisfaction. This course will assist Managers to translate the use of time into a “Life Planning Process” and not simply to accomplish daily tasks. This course is intended to assist the bank’s staff to prioritize and organize their professional and personal lives, work schedules, recognize common ‘time wasters’, procrastination habits, and provides them with day-to-day planning techniques.

Outline: PART I : Introduction

• The Dilemma of Time Management (Exercises) • What is Time Management about? • Understanding the Generations of Time Management • Do you use your time effectively? ( Exercise) PART II: Long Term Planning

• Defining your Mission Statement • Defining your SMART goals (Exercise) • The importance of Planning • Cascading Goals into short term

PART III : Short Term Planning

• Applying the Pareto principle • What is ‘Prioritization’ • The Time Management Matrix • Understanding & Applying Scheduling tools • Handling Common Time Wasters

PART V : Other Selected Topics

• Organizing your Workspace • Getting one hour of each day • Developing your own Action Plan

Objective:

- Basic time management principles- How does the brain work?- Managing actions (The Roadmap)- How do we spend time?- Designing an organizer tool- Specific Time Management Tools

Candidates:

This course is intended for business professionals who want greater control over their time, management style and life.

Duration:


Time:

July

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Essential Marketing SkillsHow to Succeed in Marketing your

Products?

Objective:

By end of the training , participants will be effectively able to :

• Gain and acquire the effective marketing tools and strategies , techniques in order to better market their products & services in a way that best meet customer’s needs & wants which will lead to achieve competitiveness in the market place • Acquire new skills, attitudes and strategies in marketing which enhance profits and widen the companies’ share in the market.

Outline:

• Marketing modern concepts• How to identify customers’ needs and wants• What is the concept of marketing environment?• SWOT Analysis• What is marketing Mix and its importance?• What is Promotional Mix and its importance?• How to launch a new product in market?• How to conduct promotional campaigns?• Marketing Research• Marketing Strategies

Methodologies

• Case studies from the real life from the Arab & Int’l environment• Workshops• Role Plays• Projects• 70 % interactive participation by trainees , 30 % by the trainer

Candidates:

All those who are working in marketing, Product Managers , Brand Managers and Business Development Managers

Duration:

5 days

Time:

June

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Effective Selling & Negotiation Skills for Vendors & Suppliers

Objective:

By the end of the program the participant will be able to acquire the following: • Effective sales negotiation skills to finalize successful deals • Skills of concluding successful sales deal contracts

Outline:

• Concept of negotiating process• Characteristics of the successful negotiator• Principles of sale negotiations• Fatal mistakes in the process of sale negotiations• Strategies of effective sale negotiations• Modern selling skills• Steps and stages of the negotiation process• Results of negotiation with suppliers• Types of negotiators• The professional negotiator• Reasons for dealing with suppliers• Skills of addressing the objections• Skills of effective communication• Pricing of products• Skills of problem solving and decision making

Material of the Program:

• Video shows• Workshops• Practical cases and applications• Role playing• Compactions

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Candidates:

This course is intended for purchasing managers / supervisors and employees whose job requires finalizing agreements and deals or conducting negotiations together with various sale teams.

Duration:

5 days

Time:

October

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Training Program for Skills of Excellency in Customer Service

Objective:

Making participants able to acquire skills and strategies to offer a super excellent customer service and to communicate and deal effectively with different types of clients and to handle complaints and suggestions.

Outline:

• Why should we offer a distinguished service?• Modern concept of customer service• Skills of effective communication with customers• Strategies of offering super excellent service• How to deal with different types of customers• Skills of handling complaints and customer objections• How to utilize customers’ complaints

Material of the Program:

• Video shows• Workshops• Case Studies in Arab world and worldwide• Role playing

Candidates:

This course is intended for all employees working in the field of customer service in departments that offer services in banking, health, medical, hotels, and goods of fast turnover, communication, electronic appliances, retailers and front office.

Duration:

5 days

Time:

May

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Leadership Skills for Supervisors

Objective:

- Understand and define the role of Supervisory Management- Define Leadership requirements for the Organization- Learn how to work with groups and teams- Learn how to develop an effective proactive style of Management

Outline:

1. Successful Supervision2. Leadership3. Interpersonal Skills 4. Problem Solving and Decision Making

Methodologies:

- Video Films - Role Plays- Workshops - Case Studies - Games

Candidates:

This course is intended for all team leaders, managers and supervisors

Duration:

4 days

Time:

September

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FinancialCourses

Technical Analysis

Program Overview:

Also known as “Chartology”, this course a 5-day course designed to provide knowledge of how to determine trend directions, when to buy and sell, and what tools to use so as to fine-tune the investment decision making process. Technical analysis is not an exact science, it is an art; where it attempts to use past stock price and volume information to predict future price movements.

Objective:

The point of technical analysis is to properly identify setups where you historically had a high probability of success on any given trade, ideally along with a favorable risk to reward ratio. Psychic ability is an unrealistic goal from using charts, but skewing the odds into your favor is not. In order for a technical trader to have long term success, he/she likely will need to continually alter, tweak, and refine his methods, to compensate for an ever dynamic market.

Candidates:

This course targets traders, brokers, analysts, fund / portfolio managers, dealers, retail and institutional investors. It is considered an easy applicable method for both the institutional and retail investors.

Duration:

Three hours - 5 days

Time:

July

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Equity Valuation

Program Overview:

This Course focuses on the characteristics, analysis, and valuation of equity securities. The first subject discusses various types and features of equity securities and their roles in investment management. The second subject explains how to conduct industry and company analysis; the concept’s major focus is on understating a company’s competitive position. The first two subjects constitute necessary background knowledge for the third subject, which introduces the methods of equity valuation.

Objective:

• Differentiate and apply the main types of equity valuation from absolute (DCF, EVA, APV) to relative (P/E, EV/EBIT, EV/EBITDA) methods• Evaluate Balance Sheet as well as Profit and Loss Accounts and Cash Flow Statements• Use comparative company valuation and calculate multiples in practice• Have an understanding of DCF model structure and how it is used to value a company in practice• Learn the fundamentals of future cash flow valuation• Calculate the cost of capital and understand the basics of discounted rates • Be able to use a DCF model to build a total value of the firm with core and non-core assets

Program Outline:

1- Overview of Equity Securities

• Describe characteristics of types of equity securities; • Describe differences in voting rights and other ownership characteristics among different equity classes • Distinguish between public and private equity securities• Describe methods for investing in non-domestic equity securities• Compare the risk and return characteristics of types of equity securities• Explain the role of equity securities in the financing of a company’s assets• Distinguish between the market value and book value of equity securities• Compare a company’s cost of equity, its (accounting) return on equity, and investors’ required rates of return

2. Introduction to Industry and Company Analysis

• Explain the uses of industry analysis and the relation of industry analysis to company analysis• Compare methods by which companies can be grouped, current industry classification systems, and classify a company, given a description of its activities and the classification system• Explain the factors that affect the sensitivity of a company to the business cycle and the uses and limitations of industry and company descriptors such as “growth,” “defensive,” and “cyclical”• Explain the relation of “peer group,” as used in equity valuation, to a company’s industry classification• Describe the elements that need to be covered in a thorough industry analysis• Describe the principles of strategic analysis of an industry

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• Explain the effects of barriers to entry, industry concentration, industry capacity, and market share stability on pricing power and return on capital• Describe product and industry life cycle models, classify an industry as to life cycle phase (e.g., embryonic, growth, shakeout, maturity, and decline) based on a description of it, and describe the limitations of the life-cycle concept in forecasting industry performance• Compare characteristics of representative industries from the various economic sectors• Describe demographic, governmental, social and technological influences on industry growth, profitability and risk

3. Equity Valuation: Concepts and Basic Tools

• Evaluate whether a security, given its current market price and a value estimate, is overvalued, fairly valued, or undervalued by the market• Describe major categories of equity valuation models• Explain the rationale for using present-value of cash flow models to value equity and describe the dividend discount and free-cash-flow-to-equity models• Calculate the intrinsic value of a non-callable, non-convertible preferred stock• Calculate and interpret the intrinsic value of an equity security based on the Gordon (constant) growth dividend discount model or a two-stage dividend discount model, as appropriate• Identify companies for which the constant growth or a multistage dividend discount model is appropriate• Explain the rationale for using price multiples to value equity and distinguish between multiples based on comparables versus multiples based on fundamentals• Calculate and interpret the following multiples: price to earnings, price to an estimate of operating cash flow, price to sales, and price to book value• Explain the use of enterprise value multiples in equity valuation and demonstrate the use of enterprise value multiples to estimate equity value• Explain asset-based valuation models to calculate equity value• Explain advantages and disadvantages of each category of valuation model

Candidates:

This course is suitable for candidates willing to target the Investment Banking and/or Private Equity fields. It is also beneficial for CFA charterholders who have covered the subject before but need to refresh their knowledge.

Duration:

Five hours - 3 days

Time :

December / January / August / October

Note/ The outline will include parts covered in CFA Level I & 2

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Portfolio Management

Program Overview:

The program introduces the concept of a portfolio approach to investments. After discussing the investment needs of various types of individual and institutional investors, the course compares the types of pooled investment management products that are available to investors. This is a two-lecture program that covers portfolio risk and return measures and introduces modern portfolio theory as well as a quantitative framework for portfolio selection and asset pricing. The last part focuses on the portfolio planning and construction process, including the development of an investment policy.

Objective:

- To study theory and empirical evidence relevant for portfolio management- An emphasis is placed on understanding how an investment professional would allocate funds in a Hypothetical Portfolio- Major topics include estimation of capital market parameters, trade-off between risk and return, optimal portfolio selection, equilibrium asset pricing models, and delegated portfolio management

Program Outline:

1- Portfolio Management: An Overview

a. Describe the portfolio approach to investing;b. Describe types of investors and distinctive characteristics and needs of each;c. Describe the steps in the portfolio management process;d. Describe mutual funds and compare them with other pooled investment products

2. Portfolio Risk and Return: Part I

a. Calculate and interpret major return measures and describe their appropriate uses b. Calculate and interpret the mean, variance, and covariance (or correlation) of asset returns based on historical data c. Describe the characteristics of the major asset classes that investors consider in forming portfoliosd. Explain risk aversion and its implications for portfolio selectione. Calculate and interpret portfolio standard deviationf. Describe the effect on a portfolio’s risk of investing in assets that are less than perfectly correlatedg. Describe and interpret the minimum-variance and efficient frontiers of risky assets and the global minimum-variance portfolioh. Discuss the selection of an optimal portfolio, given an investor’s utility (or risk aversion) and the capital allocation line.

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3. Portfolio Risk and Return: Part II

a. Describe the implications of combining a risk-free asset with a portfolio of risky assetsb. Explain the Capital Allocation Line (CAL) and the Capital Market Line (CML)c. Explain systematic and nonsystematic risk, including why an investor should not expect to receive additional return for bearing nonsystematic riskd. Explain return generating models (including the market model) and their usese. Calculate and interpret betaf. Explain the Capital Asset Pricing Model (CAPM), including the required assumptions, and the Security Market Line (SML)g. Calculate and interpret the expected return of an asset using the CAPMh. Describe and demonstrate applications of the CAPM and the SML

4. Basics of Portfolio Planning and Construction

a. Describe the reasons for a written Investment Policy Statement (IPS)b. Describe the major components of an IPSc. Describe risk and return objectives and how they may be developed for a clientd. Distinguish between the willingness and the ability (capacity) to take risk in analyzing an investor’s financial risk tolerancee. Describe the investment constraints of liquidity, time horizon, tax concerns, legal and regulatory factors, and unique circumstances and their implications for the choice of portfolio assetsf. Explain the specification of asset classes in relation to asset allocationg. Discuss the principles of portfolio construction and the role of asset allocation in relation to the IPS

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Candidates:

This course is suitable for Portfolio managers and analysts at mutual funds, pension funds, corporations and institutions sponsoring and providing investment vehicles for their employees and beneficiaries, corporate and individual retirement planners, employees of insurance companies and commercial bank employees with portfolio management responsibilities.

Duration:


Time:

January / March /August / November

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Fixed Income

Program Overview:

Practitioner-oriented course which focuses on understanding how the Yield Curve affects portfolio strategies and risk management. The course includes interactive exercises to help teach and interpret future and implied Spot Rates, Duration and Convexity, and the use of Option-Adjusted Spreads in different types of securities.

Objective:

The program also prepares the candidates to undertake a rigorous study of fixed income securities. The course is quantitatively oriented and requires some background in calculus and statistics. At the end of the course, participants will be comfortable doing three things. First, how to manage interest rate risk. Second, how to value securities with cash flows that are sensitive to movements in interest rates. Third, how to determine the optimal exercise policy for a variety of embedded options in fixed income securities.While the perspective of this course is from the viewpoint of a bond investor or a bond trader, individuals working in corporate finance need to understand similar material. Evaluating an investment in a fixed income security is the mirror image of the problem faced by a corporation in deciding whether or not to issue a bond.

Program Outline:

• Fixed Income: Basic Concepts• Fixed Income: Analysis and Valuation

Candidates:

This course is suitable for fixed income traders and sales personnel, fixed income portfolio managers and corporate treasurers.

Duration:


Time:

December / March / July / September

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Corporate Finance

Program Overview:

This Program covers all major principles that corporations use to make their investing and financing decisions. The main part of the Program covers all issues related to "Capital Budgeting", which is the process of making decisions about which long-term projects the corporation should accept for investment and which it should reject, taking into account both the expected return of a project and the financing cost.The final part o the Program is on corporate governance practices, which can expose the firm to a heightened risk of ethical lapses. Although these practices may not be inherently unethical, they create the potential for conflicts of interest to develop between shareholders and managers, and the extent of that conflict affects the companies.

Objective:

The course participant should be able to: • Describe the Capital Budgeting process and its basic principles, including cash flow estimation • Calculate and interpret: A. The results using Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period, Discounted Payback Period, Profitability Index (PI), and the Weighted Average Cost of Capital (WACC) of a company B. The Cost of Equity Capital using the Capital Asset Pricing Model (CAPM) approach, the Dividend Discount Model (DDM) approach, and the Bond-Yield - Plus Risk - Premium approach C. The degree of operating leverage, the degree of financial leverage, and the degree of total leverage. • Describe different types of dividends, stock splits, reverse stock splits, and share repurchases as well as their effect on shareholders' wealth and companies' financial ratios • Compare Share Repurchase Methods and effect on Earnings Per Share (EPS)

Capital Budgeting

• Describe the Capital Budgeting process, including the typical steps of the process, and distinction among the various categories of capital projects• Describe the basic principles of Capital Budgeting, including Cash Flow estimation• Explain how the evaluation and selection of capital projects is affected by mutually exclusive projects, project sequencing, and capital rationing• Calculate and interpret the results using each of the following methods to evaluate a single capital project: Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period, Discounted Payback Period, and Profitability Index (PI)• Explain the NPV profile, compare the NPV and IRR methods when evaluating independent and mutually exclusive projects, and describe the problems associated with each of the evaluation methods

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• Describe and account for the relative popularity of the various Capital Budgeting methods and explain the relation between NPV and company value and stock price• Describe the expected relations among an investment’s NPV, company value, and share price Cost of Capital

• Calculate and interpret the Weighted Average Cost of Capital (WACC) of a company• Describe how taxes affect the Cost of Capital from different capital sources• Explain alternative methods of calculating the weights used in the WACC, including the use of the company’s target capital structure• Explain how the Marginal Cost of Capital and the investment opportunity schedule are used to determine the optimal capital budget• Explain the Marginal Cost of Capital’s role in determining the Net Present Value of a project• Calculate and interpret the cost of fixed rate debt capital using the Yield-to-Maturity approach and the Debt-Rating approach• Calculate and interpret the cost of non-callable, non-convertible preferred stock• Calculate and interpret the Cost of Equity Capital using the Capital Asset Pricing Model approach, the Dividend Discount Model approach, and the Bond-Yield-Plus Risk-Premium approach• Calculate and interpret the Beta and Cost of Capital for a project• Explain the Country Risk Premium in the estimation of the Cost of Equity for a company located in a developing market• Describe the Marginal Cost of Capital Schedule, explain why it may be upward-sloping with respect to additional capital, and calculate and interpret its break-points• Explain and demonstrate the correct treatment of flotation costs

Measure of Leverage

• Define and explain leverage, business risk, sales risk, operating risk, and financial risk, and classify a risk• Calculate and interpret the degree of operating leverage, the degree of financial leverage, and the degree of total leverage• Describe the effect of financial leverage on a company’s net income and return on equity• Calculate the breakeven quantity of sales and determine the company’s net income at various sales levels• Calculate and interpret the operating break-even quantity of sales

Dividends and Share Repurchases: Basics

• Describe regular cash dividends, extra dividends, stock dividends, stock splits, and reverse stock splits, including their expected effect on a shareholder’s wealth and a company’s • Describe dividend payment chronology, including the significance of declaration, holder-of-record, ex-dividend, and payment dates• Compare Share Repurchase Methods• Calculate and compare the effects of a Share Repurchase on Earnings per Share when: 1) The repurchase is financed with the company’s excess cash 2) The company uses funded debt to finance the repurchase

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• Calculate the effect of a share repurchase on Book Value per Share• Explain why a cash dividend and a share repurchase of the same amount are equivalent in terms of the effect on shareholders’ wealth, all else being equal

Working Capital Management

• Describe primary and secondary sources of liquidity and factors that influence a company’s liquidity position• Compare a company’s liquidity measures with those of peer companies• Evaluate working capital effectiveness of a company based on its operating and cash conversion cycles, and compare the company’s effectiveness with that of peer companies• Explain the effect of different types of cash flows on a company’s net daily cash position• Calculate and interpret comparable yields on various securities, compare portfolio returns against a standard benchmark, and evaluate a company’s short-term investment policy guidelines• Evaluate a company’s management of accounts receivable, inventory, and accounts payable over time and compared to peer companies• Evaluate the choices of short-term funding available to a company and recommend a financing method

The Corporate Governance of Listed Companies: A Manual For Investors

• Define Corporate Governance concept• Describe practices related to board and committee independence, experience, compensation, external consultants, and frequency of elections, and determine whether they are supportive for shareowner protection• Describe board independence and explain the importance of independent board members in Corporate Governance• Identify factors that an analyst should consider when evaluating the qualifications of board members• Describe the responsibilities of the Audit, Compensation, and Nomination Committees and identify factors an investor should consider when evaluating the quality of each committee• Explain the provisions that should be included in a strong Corporate Code of Ethics• Evaluate, from a shareowner’s perspective, company policies related to voting rules, shareowner sponsored proposals, common stock classes, and takeover defenses

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Candidates:

This course is suitable for :

• Corporate Finance Executives• Financial Analysts• Company Directors• Investor Relation Executives• Financial P.R. Executives• Portfolio Managers• M&A Advisers• Lawyers• Accountants

Duration:


Time:

Dec / January / May / Oct

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Derivative Market

Program Overview:

This course covers introductory material for the specific types of derivatives. Specific definitions and terminologies are presented along with information about Derivative Markets. Upon completion of the material coverage, candidates should be familiar with the basic concepts that underlie derivative and general arbitrage framework

Objective:

The course participant should be able to:

• Define derivatives and distinguish between Exchange-Traded and Over-the-Counter Derivatives • Understand Forward, Future, Option, and Swap Markets and Contracts • Calculate and interpret the payoff of each Derivative Contract • Identify and execute risk management applications of options strategies

Program Outline:

• Derivative Markets and Instruments• Forward Markets and Contracts• Futures Markets and Contracts• Option Markets and Contracts• Swap Markets and Contracts• Risk Management Applications of Option Strategies

Candidates:

This course is suitable for those with an aspiration to work with derivatives, new starters at banks, asset management companies and other financial institutions, experienced staff within financial services businesses keen to increase their awareness of derivatives, early stage accountancy or MBA student and existing and aspiring investors.

Duration:Three hours - 3 days

Time:

January / February / August / September

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Market Organization and Structure

Program Overview:

The course explains important characteristics of the markets in which equities, fixed-income instruments, derivatives, and alternative investments trade. The section on market organization and structure describes market classifications, types of assets and market participants, and how assets are traded. The section on security market indices explains how indices are constructed, managed, and used in investments. The section on market efficiency discusses the degree to which market prices reflect information and explains the implications of different degrees of market efficiency for security analysis and portfolio management.

Objective:

• Get an overview of the financial markets• Explore the nature of savings and flow of funds in an economy• Understand the principal participants and their motivations• Examine the different asset classes and basic valuation models

Program Outline:

Market Organization

a. Explain the main functions of the financial systemb. Describe classifications of assets and marketsc. Describe the major types of securities, currencies, contracts, commodities, andd. Real assets that trade in organized markets, including their distinguishing characteristics and major subtypese. Describe types of financial intermediaries and services that they providef. Compare positions an investor can take in an assetg. Calculate and interpret the Leverage Ratio, the Rate of Return on a margin transaction, and the security price at which the investor would receive a margin callh. Compare execution, validity, and clearing instructionsi. Compare market orders with limit ordersj. Define primary and secondary markets and explain how secondary markets support primary marketsk. Describe how securities, contracts, and currencies are traded in quote-driven, order-driven and brokered marketsl. Describe characteristics of a well-functioning financial systemm. Describe objectives of market regulation.

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SECURITY MARKET INDICES

a. Describe a Security Market Indexb. Calculate and interpret the Value, Price Return, and Total Return of an Indexc. Describe the choices and issues in Index construction and managementd. Compare the different weighting methods used in Index constructione. Calculate and analyze the value and return of an Index given its weighting methodf. Describe rebalancing and reconstitution of an Indexg. Describe uses of Security Market Indicesh. Describe types of Equity Indicesi. Describe types of Fixed-Income Indicesj. Describe Indices representing alternative investmentsk. Compare types of Security Market Indices

MARKET EFFICIENCY

a. Describe market efficiency and related concepts, including their importance to investment practitionersb. Distinguish between Market Value and Intrinsic Valuec. Explain factors that affect a market’s efficiencyd. Contrast weak-form, semi-strong-form, and strong-form market efficiencye. Explain the implications of each form of market efficiency for fundamental analysis, technical analysis, and the choice between Active and Passive Portfolio Managementg. Describe selected market abnormalitiesh. Contrast the behavioral finance view of investor to that of traditional finance view

Candidates:

This course is beneficial for an understanding of markets, participants and products, and how they all come together. Candidates will come from organizations involved in both the buy-side and sell-side of the industry plus insurance, accounting, IT firms supporting the industry and the financial press.

Duration:

Three hours - 1 day

Time:

Jan / March / August / Nov

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Financial Statement Analysis(FSA)

Program Overview:

The course is designed to provide knowledge on how to analyze a company’s Financial Statements (Income Statement, Balance Sheet and Cash Flow Statements), as a basic step for being able to make proper investment decisions.

Objective:

This course enables you to get straight to the heart of financial issues, demystifies financial information and gives you confidence and control when making financial decisions.

Program Outline:

• Financial Reporting Mechanics• Quality of Earnings • Understanding Income Statements• Understanding Balance sheets• Understanding Cash Flow Statements• Financial Analysis Techniques• Long lived Assets Implication for FSA Ratios • Income Taxes• Non -Current (Long-Term) Liabilities

Candidates:

This course is beneficial for bankers, financial analysts, portfolio managers, accountants, project managers, budget analysts, controllers and treasurers.

Duration:Three hours - 6 days

Time:

February / March /July / August

Note/ The outline will include parts covered in CFA Level I & 2

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Finance For Non–Financials Program (FNF)

Program Overview: (For Senior Management)

Finance for Non-Financial Managers is an interactive course designed to equipe business managers with the capacity and insights to make decisions that yield better financial results. The course cuts through the unnecessary clutter and complexity that can overwhelm managers and gives them the fundamental principles which can be relied upon for making sound financial decisions on a day-to-day basis.

Objective:

The course participant should be able to:• Understand the language of finance• Communicate with internal and external financial stakeholders• Understand how financial statements are constructed, how they relate to one another, and obtain greater confidence in reading and understanding them• Use financial decision tools to evaluate trade-offs and to make better decisions• Make well-informed choices that will add value to the organization• Calculate and analyze financial ratios• Understand key performance indicators, management accounting the importance of budgeting and forecasting.

Program Outline:

• Understand the main components of a typical set of financial statements or annual reports• Understand the key underlying accounting concepts used in the preparation of financial statements• Effects of Business transactions on Balance Sheet & Accounting Equation• Cases and Applications• Overall considerations on financial statements• Going concern• Consistency of Presentation• Conservatism• Recognition and Realization• Accrual Basis• Fair Presentation• How to Use Financial Information & Analysis

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Candidates:

This course is beneficial for students planning to enter the investment profession, and anyone with no financial background who needs to develop his/her knowledge of financial practices.

Duration:


Time:

May / December

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SME’s Course For Financial Advisors and Private Equity

Fund Managers

Program Overview:

This Program covers all aspects related to the SME sector, including but not limited to, various definitions, importance, challenges, risks, sources of finance and role of governments to promote this sector.

Objective:

The course is intended for those who are interested in understanding the challenges that SMEs are facing and the best ways to finance SMEs. The course is designed to provide management professionals with a thorough understanding of the risks associated with investing in / lending SMEs and how to mitigate those risks.The course is tailored to address the funding mechanism for SMEs especially Direct Investment.

Program Outline:

1- SME Definition a.The importance of SMEs. b. Formal and Informal Economy c. Regulatory framework and the role of the governments. Examples of governments’ support to SMEs. d. SME’s definitions across countries. e. The proper definition in the MENA region f. Importance of SMEs to large corporations g. How was the SME originally financed h. SMEs and lack access to finance2- Private Equity Funds/Advisory for SMEs a. Assessing the target and reasons for acquisitions b. Approaching the target c. Building relationship with the entrepreneurs d. Dealing with family owned companies i. Planning for succession and key man risk, how to make it work and why it may fail ii. How to deal with all family members e. The fundamental financial statements and their strengths and weaknesses f. IFRS for SMEs i.Benefits ii. Adoptions iii. Implementation support

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g. How to value SME i. SME projections and the importance of a believable business plan ii. How to overcome the double books issue iii. Majority/minority stakes iv. In case of majority stake, how to benefit from related parties and build a platform. v. Growth capital or buyout vi. What does the Private Equity Fund brings to the table beside money vii. The importance of Due Diligence and the identification of deal breakers viii. Deal Structuring ix. How to align the interest of the Private Equity Fund and the existing management/shareholders to avoid “agency problem”? 1. Ratchet mechanism; 2. Earn out mechanism; 3. Management contract. xi. Valuation methods and case studies 1. Net Asset Value or Discounted Cash Flow (DCF) 2. Using Comparable 3. Negotiations Tactics xii. SMEs lucrative Internal Rate of Return (IRR), and how to lock-in a minimum IRR. xiii. Risks arising from investing in SMEs (operational risks, risk of overpaying, risks of over gearing.etc.) xiv. How to mitigate those risks xv. Risk mitigations via legal contracts (i.e. Shareholders Agreement and Sale and Purchase Agreement) xvi. Closing the Deal xvii. Changing management or relying on existing one decision xviii. Management Compensation Plan xix. 101 days plan and implementation after the acquisition is concluded xx. Value Creation and how to take the target to the next level xxi. How to institutionalize SME’s and if possible take the target from small local to small regional xxii. Improving reporting, and establishing performance benchmarks xxiii. Continuous monitoring xxiv. How and when to exit

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Candidates:

• Investment Banks and Private Equity funds specialized in SME’s• Operational staff within financial institutions working with SME’s Financing• Bankers working with SME’s, Retail, Corporate and Credit Department• Top management of financial institutions wanting to enter SME’s Financing field • Financial Consultants working with SME’s• Credit Risk Management Professionals• SME’s management responsible for corporate strategy and planning• Staff of SME’s associations• Students and other individuals interested in SME’s Finance

Duration:

15 hours

Time:

December

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Banking Courses

Commercial Papers

Program Overview:

Commercial Papers are the basic instruments in day to day business nevertheless are not the only tool in our world. Since Commercial Papers are negotiable instruments, they became the most crucial and vital tools in business life.

Course Importance:

As commercial papers are significantly important in our business life, most of the banks established a distinct department to manage their Commercial Papers on behalf of their customers as agents. Also banks use Commercial Papers as collateral to cover various credit facilities granted to their clients.

Program Outline:

- Definitions of Commercial Papers - Types of Commercial Papers - Portfolio of Commercial Papers - Types of Checks - Legal Aspects of Commercial Papers and Clearing Settlements

Candidates:

This course is intended for new bank employees working in the field of branches.

Duration:

Ten hours over 2 days

Time:

August

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Customer Services

Customer Service excellence will give you the competitive advantage you need to survive in a tough and increasingly uncertain business climate. In today’s customer-oriented business environment, “people skills” are critical for personal and organizational success. How you handle your customers can directly affect your individual goals as well as your team’s and bank’s performance.

Program Overview

In today’s business world, banks’ staff need a sound understanding of the importance of their role to deliver first class service to clients – at all levels. This customized course is designed to foster the attitudes and develop the skills that drive the customer-focused behaviors required for exceptional customer service.

Part I: Introduction Customer Service Standards • How is Standard Customer Service at the Bank? • Understanding the Client’s wish- list • Defining Moments of Truth • Defining Ground Rules • Creating a Professional Image • Standard Dress Code • Professional Attitude

Part II: Developing Communication Standards

• Understanding the difference between Proactive & Reactive behavior • How to develop Proactive behavior • Listening to the clients’ needs • Practicing Positive Phrases

Part III: Dealing with Transient clients

• Understanding & Dealing with different Customer Types • Turning Difficult/Angry Customers around • Handling Client Complaints

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Objective:

This course aims at enhancing the conceptual background within the Customer Service field and at as-sisting and supporting the participant to understand the client wish -list. This course will also help the participant to acquire knowledge in Customer Service management in different types of contexts. By the end of the program, the participant will be able to develop proactive behavior, listen to the client’s needs and handle client complaints.

Candidates:

This course is intended for people on the front line of customer service, whether face to face or over the phone Duration:


Time:

June

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Principles of Bank Account

Program Overview:

In this course, the participant will learn about the banking system, role of Central Bank of Egypt, role of banks and fundamentals of banking operations including the definitions of products main features as well as operation methodologies. Finally, the participant will acquire basic skills needed to perform a variety of banking operations within the working environment.

Program Outline:

Module 1 – Development of Banking Sector• The Evolution (Progress) of the Egyptian Banking system and types of banks.• The Role of CBE • Bank Structure• Main Functions of the bank• Support Functions of the bankModule 2 – Bank Accounts and Deposits• What is a bank?• Types of Banks • Types of bank accounts• Legal Form• Allocation within Balance sheet ( Asset/Liability)• Bank Transfers ( Incoming / Outgoing) • Checks

Objectives

- Explain the development of the Banking Sector- List the different bank accounts and types of deposits

Candidates:

This course is intended for new bank employees, mainly in the retail field Duration:


Time:

March

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Financial Management

Program Overview:

Finance in real sense is the cornerstone of the Free Enterprise System. Solid Financial management is vitally important to the economic health as well as for any business organization.

The financial Management Course will provide participants with a solid theoretical framework for making all financial decisions and prepare them with the right skills and techniques for reaching the best results.

Program Outline:

By the end of this course participants will be able to understand the basics of financial theory and practices. They will address current financial management issues faced by business decision-makers and will build the essential analytical skills necessary for dealing with various financial issues. In addition, participants will become familiar with “Quantitative” issues through exercises and problems and will be encouraged to work in “groups” as well as on an individual base.

Course Objectives

This course aims at enhancing the conceptual framework within the Finance Field which will assist and support the Participant to understand the key techniques and methods for any financial decisions of the firm. This course will also help the Participant to acquire knowledge in financial management in different types of contexts to be able to understand the nature of the links of financial decision with economy issues. Participants will gain the skills in making a professional use of problem solving for financial management.

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Candidates:

This course is intended for MBA or High Diploma Students (Advanced). Duration:

3 days

Time:

July / March

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Financial Modeling

Program Overview:

The program is designed to analysts to build their own model to easily demonstrate the key figures and ratios and to link them to the deal structure. Finally,candidates will be trained to use the model for valuing a company/project and to make a decision on whether to accept or reject a project using several valuation techniques and Internal Rate of Return (IRR)calculations.

Program Outline:

• Modeling with Style• Circularities Under Control• Flexible Output Table• Grand Scenarios & Text Functions• Sensitizing your Work• Working with Lists• Protecting your Work• Best Practices

Course Objectives:

Financial modeling is the skill of simulating a business model using computer software, in addition to facilitating valuation, financial modeling answering multiple questions that could be: 1. Will this business make profits? When? 2. What are the expected cash flows? Are they sufficient to meet the business requirements?3. What is the size of this market?4. How will this business perform if key inputs change?

Financial modeling skills are an essential need in all Mergers and Acquisitions Consulting, Private Equity, Investment Banking, Budget Preparation and Management Consulting Services.

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This course aims at introducing and enhancing financial modeling skills for candidates using best practice modeling techniques.

Candidates:

Business and Financial Analysts ( Corporate ,Investment and Research Analysts) Duration:


Time:

July / March

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Retail Banking

Program Overview:

Retail banking has become one of the bank priorities throughout the world as business has migrated from corporate to retail. Therefore, it has become essential to improve the type and quality of retail banking services to match the growing retail customer needs. Enabling participants to understand the true value added of retail banking as per the new banking concept / approach for retail banking with the aim of achieving customer satisfaction, generating profit, standing against the increasing competition and running a successful retail operation business.

Program Outline:

1.Define Retail Banking and its Products2. Explain the Concept of Electronic Banking Operations3. List New Retail Products and Services4. Transition to Customer Service Orientated Organization 5. Methodology for Calculation of Installments and Loans 6. Risk Assessment and Credit Scoring 7. Collection and Recovery

Course Objectives:

Retail banking is such a banking activity that has grown up so rapidly and so widely throughout the last 20 years and has become a point of focus in most of Mega international banks.

Candidates:

This course is intended for new bank employees in the retail segment.

Duration:


Time:

April

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Trade Finance

Program Overview:

This program covers different aspects of trade finance and its tools (Documentary Credits & Letter of Guarantees) in addition to covering the International Commercial Terms (INCOTERMS)

Program Outline:

• Discuss International Trade History • Discuss the History of the International Chamber of Commerce• Explain The SWIFT Organization and Messages • Define Shipping Documents• Explain the International Payment Tools• Identify the Documentary Credits• Explain the International Commercial Terms (INCOTERMS)

Candidates:

This course is intended for bank employees who wish to gain knowledge related to the trade finance field.

Duration:


Time:

April

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Analyzing-Evaluating bank customers

Program Overview:

International markets, global competition, technological advancement, environmental awareness and economic restructuring are only a few of the issues concerning the business world. Every day, the world moves closer and closer to form a tighter “global village”. Changes are witnessed in the way businesses are managed and developed. This is mainly due to the changes in management practices and tools, reflecting various restructuring methodologies to suit the modern organization. The introduction of information and communication technologies has greatly affected organizational development and business processes. International professional development institutions are updating their programs and incorporating global issues in an effort to keep up with the current changes. Their mission is to focus on shaping the new generation of managers, and furnishing them with the latest managerial and scientific techniques. Global institutions focus on the objective of delivering world-class professional managers and executives, having the capacities, knowledge and skills necessary for surviving in the continuously changing business world.

Outline:

Financial Statement Analysis • Ratio/ Cross –Sectional Analysis - Liquidity Analysis - Activity Analysis - Leverage Analysis - Profitability Analysis - Horizontal Analysis - Vertical Analysis • Trend/ Time Series Analysis • Common Size Income Statement and Balance Sheet • Evaluating Financial Risk

Cash Flow Mechanics and Analysis 1. Cash Flow introduction 2. Difference in concept and application between Cash Flow and Income Statement, reflecting the importance and effect of the Cash Management on the company 3. Mechanical treatment for Cash Flow Blocks, their financial meaning and how to construct and read them: a. NOPAT b. COPAT c. CACO d. CBLTU e. CBF f. Net Cash Flow 4. Cash Flow Ratios and their value added to the Analysis and financial design: a. Debt Service Ratio b. Free Cash Flow 5. Direct applications and class examples elaborating on the importance and use of Cash Flow Statements

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Candidates:

The program is designed to bankers (mainly in the Credit & Risk Departments of banks) with the objective of assisting banks in analyzing and evaluating customers for the purpose of enhancing the banking loan decision. Participants will apply through practical cases studies.

Duration:

4 days

Time:

July

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Instructors BIO

Hesham Amer (CFA, CPM)

Hesham Amer is a CFA charterholder and the Ex-President of CFA Egypt.Hesham is a founder and CEO of Delma Brokerage Company, (an affiliate to Abu Dhabi Holding Company) in Abu Dhabi, and is also a Certified Portfolio Manager (CPM) as awarded by the Egyptian Investment Management Association (EIMA).

Amer is a part-time instructor of Portfolio Management and Equity Valuation in the Institute of Banking and Finance (IBF) and the Center of Adult and Continuing Education (CACE), both at the American University in Cairo. Prior to joining Delma Brokerage, Amer had occupied several positions in the Egyptian banking sector, the Egyptian Capital Market and in the Portfolio Management field. His experience has been accumulated through around 20 years of work in the financial field, including:

• Seven years in gaining a long operational experience through his work at the Commercial International Bank - Egypt (CIB). • Head of the Research Department of Okaz Stockbrokers and Investment Consultants, where he was responsible for conducting and supervising several industry and equity valuation researches (Okaz is one of the leading securities-brokerage firms in Egypt). • Asset Management Director of Joint Arab Investment Corporations (JAICORP), one of Abu Dhabi Investment Authority (ADIA)’s subsidiaries in Egypt, managing a portfolio of $50 million. • Asset Management Director at Abu Dhabi Holding Company, one of the major investment companies in Abu Dhabi • Deputy sector Head of two main departments in the Egyptian Exchange EGX (Disclosure & Membership Departments), where he strengthened his background on the rules and regulations controlling around 1000 listed companies in the stock exchange.

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Amr Hussein Elalfy (CFA)

Amr Hussein Elalfy, MBA, CFA is currently Managing Director - Global Head of Research at Mubasher Financial Services (MFS). Prior to joining MFS, he was Director & Co-Head of Research at CI Capital, the wholly-owned investment bank of Commercial International Bank (CIB), Egypt's largest private-sector commercial bank.

He was managing a team of equity analysts focusing on Egypt, the UAE, and Kuwait and was Head of MENA Telecoms Research. He spent over 9 years (2000-2003 then 2006-2012) within the CI Capital group.

In the intervening period, he was Planning Manager at Vodafone Egypt for two-and-a-half years. He began his career as an Analyst at King Street Capital Management, a New York-based hedge fund manager, before moving back to Egypt as Senior Analyst at Prime Securities, covering Telecoms and Banks. He holds a BBA (Summa Cum Laude) in Finance & Investments from Baruch College, the City University of New York (CUNY) in 1997 and an MBA from the American University in Cairo (AUC) in 2002. He has been a CFA charterholder since 2008, and he is currently Secretary of CFA Society Egypt, the local society of CFA Institute.

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Amira Saleh

o Graduate of faculty of Economics and Political Science, major economics, she was capable to complete her Master Degree at the American University in Cairo. Then she got a diploma in International organizations at AUC, and TOT program

o course leader of curriculum development of Industry analysis for the Institute of Banking and Finance at the Management Centre, A.U.C Egypt

o Worked as a certified instructor for well known academic and training institutions, including Egyptian Banking Institute (E B I), Institute Of Banking And Finance at A.U.C and School of Continuing Education (SCE)

o Lecturer at Misr International University (MIU) as well as a course coordinator at the Faculty of Business and International Finance

o Dr. Amira was awarded many appreciation certificates as recognition of high achievement from the American University of Cairo as well as Egyptian Banking institute and the School of education at AUC, as well as the institute of banking and finance at the management centre at AUC

o She worked as a business consultant at Global Academy and she is the first to take the initiative to start CSA level 2 program in Egypt at Global Academy and Financial Brains

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Sherif Abdel Aal

Mr. Abdel Aal has over fifteen years of progressive professional experience in Corporate Banking, direct investments, private equities, M&A’s, investment banking and market research. Developed through his involvement in the execution of more than 40 transactions, including sell-side M&A, buy-side M&A, equity offerings, corporate-restructuring and bank financing, in North Africa, and the Middle East, based in Cairo and Dubai. Responsible for deal origination, structuring and execution, portfolio management and exit.

He is currently a Director of the Concord Group. Prior to joining the Concord Group on December 2009, he worked as a Corporate Finance Manager with Ahli United Bank Egypt (AUBE) for one and half years. Mr. Abdel Aal started his career in the Loans Department and Corporate Banking Group in Commercial International Bank (CIB) from 1998 and subsequently moved on early 2004 to the Direct Equities of Dubai Islamic Bank (DIB) in Dubai as an Investment Officer where he gained a wide range of experience in the GCC financial markets. He then rejoined CIB late 2005 in the Direct Investments, then during 2007 he moved to CI Capital Holding (a subsidiary of CIB) where he worked as an Equity Research Associate focusing on the Egyptian financial market. He is a founding member of the Egyptian Private Equity Association (EPEA).

Since 2009 he is a Professional Instructor, Program Advisor and Material Developer in the American University in Cairo (AUC) in the Institute of Banking and Finance (IBF) Management Center (MC). Mr. Abdel Aal developed full material packages for the Core Credit and Corporate finance reflecting the latest techniques, international know-how and best professional experience. He is also a CFA Instructor at Financial Brains in Egypt and Qatar. He acted as free lance Instructor for LOGIC Management Consulting.

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Mr. Abdel Aal is an Independent Board Member and Head of Internal Audit Committee of Ahram Security Group (ASC). And he is an Independent Audit Committee member of Bisco Misr Company.

Mr. Abdel Aal graduated in 1997 from Ain Shams University with highest honors in a Bachelor of commerce degree in Business Administration, from Faculty of Commerce, English Section. He is credit certified as he successfully completed the Commercial International Bank of Egypt (CIB) Credit Course, ranking the first.

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Samer Daoud (CFA)

Samer has rich experience in performing feasibility studies, valuations, mergers and acquisitions work for various companies operating in several products & services from his experience in PwC.

He has been involved in the preparation of financial performance reports, valuation reports, financial models and feasibility studies for national and multinational companies and has developed an extensive experience in corporate valuations.

Over the past five years Samer has conducted over 60 valuation and feasibility assignments in diversified sectors, he has specialised in Real Estate, Health Care, Financial Institutions, and Cement.

Samer currently is holding the position of the financial controller of AB Care Group – Member of Banaja Holding.

Prior to this he has held the position of manager in the Deals department of PwC Egypt, one of the big four leading Auditing and Consulting firm in the world, and has worked for five years with Lafarge Titan Egypt, Lafarge is the leading building materials producer in the world, he worked in the Control Department as Senior Financial Analyst. Samer is a Chartered Financial Analyst (CFA).

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Wael Shams EL-Din

Senior Manager – NBAD Instructor of Finance & Banking AUC & ESLSCA University Egyptian Banking Institute (EBI)

Wael Shams EL-Din is a certified trainer from Pearson Institution UK. Wael is a noted scholar in the area of Banking and Finance. Wael is teaching at AUC and ESLSCA University in the following areas ; International Finance, Financial Management, Portfolio Management, Banking Management, SME Banking and Retail Banking Management. Also wael is Providing Training in the following area at Egyptian Banking Institute (EBI); the Principles of Banking Certificate, Foreign Trade Program, Commercial Papers and the Operation Certificate , Retail Banking and Foundation Program within banking industry.

Wael was nominated by ESLSCA University to teach for MBA candidates and High Diploma Students in the area of banking and Finance, Also Wael Has been Selected by Egyptian Banking Institute (EBI) to work as instructor to train bankers in different topics based on rich banking experience and high academic studies, Wael is holding a Master of Banking and Finance with highest Honor, and currently in the final stage of his PHD. Also Wael is a Holder of investment award from Security and Investment Institute (ICFA) from UK.

Before coming to ESLSCA University, Wael Served in the Banking Field for more than twenty years, Wael has solid Banking Experience diversified in various divisions, different banks as well as several countries. Knowledge and skills have been acquired through working in Egypt, U.A.E and Qatar. Wael started his professional career when joining one of the major financial institutes in Egypt; Commercial International Bank (CIB) for pleasant 10 years, after that traveled to Gulf Region for further 6 years to expand his Banking exposure while joining one of the leading Banks in UAE (Mashreq Bank- Dubai) to work for 5 succeed years. After that Wael was appointed to Manage Head Office for one of the prime banks in Qatar – (Doha Bank) for another one enjoyable year before ending his voyage in the gulf district by mid of 2007.

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Heba Srour (CMA)

o Holds a CMA, CFM, CTP, CIA, CFSA, CIFRs, MSc.

o Graduation with Honor degree majoring in Business Faculty of Commerce – TANTA University May 1998.

o Working as lecturer – Faculty of commerce ,Tanta University

o Working as Instructor for CMA / CFM material (part 2&3 old system and part 1&2 new system)

o Working as training manager and instructor for CMA/CFM material

o Worked as Financial Consultant for Middle East for Information Technology (ORACLE partner Network)

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Ahmed Helmy El-Hadidy (CMA)

Certified Management Accountant (CMA), 5/2011Institute of Management Accountants (IMA)

• The Certified Management Accountant® (CMA®) designation is the advanced professional certification specifically designed to measure the accounting and financial management skills that drive business performance. Achieving the CMA credential demonstrates your mastery of financial planning, analysis, control, and decision support, as well as professional ethics

Certified Internal Auditor (CIA), 9/2013 Institute of Internal Auditors (IIA)• The Certified Internal Auditor® (CIA®) designation is the only globally accepted certification for internal auditors and remains the standard by which individuals demonstrate their competency and professionalism in the internal auditing field. Candidates leave the program enriched with educational experience, information, and business tools that can be applied immediately in any organization or business environment. Bachelor of Science in Accounting, 5/1999 ,Faculty of Commerce, Mansoura University, Major: Accounting, Grade: Good.The Ideal Worker in May 2005 [(From the Governor of Eldakahilia Governorate and the Chief of Union Workers) for the best performance]• The ideal worker certificate is awarded by the union workers organization in Egypt to promote professional performance and ethical behavior in government entities. Holders demonstrates professionalism in job performance with a high ethical behavior

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Mohamed Farouk

The instructor has 14 years of finance and banking experience, currently he is the Head of Investment Exposure in the largest private commercial bank in Egypt and the instructor of the Investment Valuation and Financial modeling modules of the bank’s credit cours for the last 4 consecutive years, previously worked in the Direct investment and the Financial control of the bank, and auditor in KPMG.

He finished his Master in Business Administration in Maastricht School of Management, focusing Banking and Finance in 2011. He is credit certified after completing the Credit Course offered by Commercial International Bank based on Chase Manhattan’s standards during 2004. He graduated from Faculty of Commerce –English Section- Ain Shams University.

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Omar Bedewy (CFA, FRM, CAIA)

Omar is currently acting as the SME Director at Qatar Financial House (QFH).

In 2000, Omar started his career as part of PricewaterhouseCoopers' Corporate Finance team where he was extensively exposed to a various array of due diligence and financial advisory transactions ranged from $100MM to $500MM in multiple sectors including pharmaceuticals, manufacturing, Telecommunication, F&B and trading industry sectors.

From 2005-2007 and after the major role PwC played in assisting Citadel Capital in acquiring ASEC Group, he became part of the newly established Citadel Capital’s subsidiary (ASEC Cement Holding) as the Investment, Financial Planning and Budgeting manager, assisting the group in new establishments and acquisitions in the cement industry throughout the MENA region. During this time, Omar’s team spearheaded highly successful investments in Sudan, Algeria, Iraq and Egypt.

In 2008, Omar was selected as the Chief Investment Officer for Kandil Steel for the financial restructuring of the Group, which was successfully accomplished in a short period and placed it in a position to facilitate future IPO.

By mid 2008, he was hired by Global Investment House, to act as the Head of Investment Banking, and was responsible for deal sourcing, and handling investment banking transactions and successfully concluded the divestment of 25% of a cement plant.

From 2009 till April 2013, Omar was heading the SME private Equity Fund of the Arab African International Bank.

Omar graduated from the faculty of Economics, Cairo University, a CFA charter-holder, a Financial Risk Manager “FRM”, and a CAIA holder.

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DR. SAMIR RAMZY ATTIA

Dr. Samir Ramzy Attia is a Consultant and Corporate Trainer as well as a certified IFC – BE trainer with many years of experience in Sales, Marketing and Management programs with the American University in Cairo, specifically the Executive Management Diplomas, School of Business. He is also a Certified Trainer for the USAID, School of Business, Maryland University (USA) as well as a Certified Consultant for the Arab Labor Organization (ALO), the Arab League. His training experience with some of the Middle East leading organizations in sales, marketing specifically and selective management programs includes Egypt, Saudi Arabia, Bahrain, Qatar, Yemen, Kuwait and United Arab Emirates. His keen interest in the development issues rendered him an effective participation with some non-government organizations (NGOs), which assist in providing current trends and case studies. Dr Samir ‘s practical sales and marketing experience started in early 1985 when he joined British American Tobacco as a Sales Promoter for the Saudi Arabia market. He was promoted to Sales Supervisor in Bahrain and Qatar in 1988 where within two years, he achieved a significant contribution to the company in terms of achieving 5% market share for Kent Cigarettes in all tobacco business in Bahrain. Hence, he was promoted to Senior Sales Supervisor for Saudi, Bahrain and Qatar markets in 1990 and to trade Marketing Manager in 1994 until 1998.

He has attended, participated and was invited as a guest Speaker in many seminars and conferences on education, unemployment, foreign investment, public relations, social marketing and information with the NGO's. Dr Samir obtained his PhD in Business Administration on Corporate Social Responsibility (CSR) from Holland Academy for Science and Arts (HASA) in 2007. He is a member of the Public Relations Association, the Red Cross Society, Red Crescent Society and the Arab Management Association.

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71

Khaled Safaa Amer (CFA)

Mr. Safaa is the vice president investment banking at NAEEM Financial

Investments a fully owned subsidiary of NAEEM Holding for Investments.

Mr. safaa is a member of the team responsible for providing investment

banking services including: mergers and acquisitions transactions, private

placements, company restructuring, debt arrangements, IPO, equity valuations

and corporate advisory.

These services are provided to the parent company in managing its proprietary

investments that amount to around USD300 Mn in Egypt and the Gulf area in

addition to other local reputable companies.

During Mr. Safaa's career, he has been exposed to various sectors including real

estate, food and beverage, and education.

Mr. safaa is MBA holder, finance major, from the Arab Acamdemy for Science,

Technology and maritime transport and currently he is a level 3 CFA candidate.

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72

Amir El Daly

Amir El Daly was a Senior Financial analyst at Beltone Investment Banking responsible for generating finance from shares and loans. gathering , analyzing and interpreting complicated numerical information , assessing and predicting financial risks and return. Negotiating and structuring financial details. Providing investment advice , tactics and recommendations.Prior to that Amir El Daly was a Head of Treasury at Beltone Securities Brokerage responsible for Managing the cash portfolio and the cash flows (Actual, Forecasts, and daily position) ensuring that a company’s cash flow is adequate to allow it to operate effectively and making decisions on company finance, negotiating best FX and interest rates with banks, evaluate alternative long term borrowing strategies and make recommendations in accordance with the capital structure guidelines.Prior to that Amir EL Daly was an operation officer Arab African International Bank responsible for confirmation of retail foreign exchange handling problems for incoming & outgoing transfers centralized problem solving operations for all AAIB Branches. Reconciling accounts between head office & branchesMr. El Daly graduated from Cairo University with a Bachelor of Commerce (English Section), Major Accounting and Finance, Class of 2006.Mr. Amir El Daly is currently a CFA Level III Candidate.Mr. El Daly currently serves as an CFA Level & CMA Part II instructor at Talent Development for consultations & IPA

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73

Zakeya Mohsen(CFA)

Ms. Zakeya Mohsen has graduated from Construction Engineering at the American University in Cairo in 2003.

After finishing her engineering studies she shifts career to finance exploiting a natural edge in quantitative fields like many Engineers . In June 2006 she successfully finished her MBA from Edinburgh Business School.

She attained her CFA designation in October 2011 after intensive studies in Finance covering all aspects of the economic and financial profession including equity valuation, portfolio management and corporate finance.

Ms. Zakeya has an overall 10 years of experience in the financial sector and she has teaching experience in Edinburgh Business School's MBA program and CFA level I and level II program. }

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Our Team

Our Team 75

Doha Sabry, General Manager

Mrs. Doha Mohamed Sabry brings in a wealth of experience in the management field and until recently was holding the position of Executive Manager for Restart Corporation ( 1997- 2012).

Doha has recently joined Financial Brains, a specialized financial training company based in Egypt offering different financial/managerial program certificates, as the General Manager of the company.

Doha is a graduate of the Faculty of Arts, French Department, Ain Shams University (1997).

Doaa El Banna, Course Coordinator

Has over eight years effective experience as supervisor administrative and office managing filed. Since 2008 – 2011 she has been worked as office manager with T.G services construction and real estate company, Supervise the work of office, administrative to ensure adherence to quality standards, deadlines, and proper procedures, correcting errors or problems, Evaluate employees' job performance and conformance to regulations and recommend appropriate personnel action, Interpret and communicate work procedures and company policies to staff, Make recommendations to management concerning such issues as staffing decisions and procedural changes.

She is currently course coordinator in Financial Brains training and consulting company coordinate activities with other supervisory personnel and with other work units or departments, Implement corporate and departmental policies, procedures, and service standards in conjunction with management & develop them and consult with managers and other personnel to resolve problems in areas such as equipment performance, output quality, and work schedules, Prepare and issue work schedules, deadlines, and duty assignments for office or administrative staff, Check any special requirements for the clients & follow up achieving them with the involved parties if possible, Follow up the client's attendance & phoning them in case of repeated absence, Design, organize and implement appropriate filing and data retrieval systems in order to ensure ease of access to up to date information at all times.

76

Rita Mazher,Marketing Executive

Handels the marketing in the GCC region, where she is involved in developing and promoting marekting campaigns for the products and services taking place in qatar

Master Degree in Media- JournalismExperience in Sales and Marketing- Public RelationExperience in Qatar Market ( Sports field- Sales and Marketing – F&B and Hospitality)assessing market and growth opportunities, generating leads .Build market position by locating, developing, defining, negotiating, and closing business relationships.Locate or propose potential business deals by contacting potential partners; discovering and exploring opportunities.Close new business deals by coordinating requirements.Protect organization’s value by keeping information confidential.play a key role in the development and implementation of the business development plan and providing input into strategic business growth and improvement decisions.Create and manage an annual business development planStay up to date with all industry trends, issues and newsProvide strong representation for the company at all timesFollow up payments and accounts with clientsPrepare plan for establishment ( Website –Marketing campaign…)Write PREstablish, policies and procedures.Direct and oversee an organization’s financial and budgetary activitiesTranslation ( English , Arabic and French )

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Egypt Financial House ( EFH )Finanacial Brains

Tel: +202-25164181Mobile: +2 01000 11 49 19Address: 4, St.# 278, behind El Tawheed wel Nour, El Nasr St. New Maadi, Cairo, EgyptEmail: [email protected]: www.financial-brains.org

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