Contact Financial Holding announced on Wednesday the appointment of Manal Abdel Razek as chairperson of its board, effective April 28, succeeding Hazem Moussa. Abdel Razek brings over three decades of experience in Egypt's financial services sector, including prior government roles. The move comes as the firm advances its shift to a fully integrated digital financial platform.
Contact Financial Holding announced the appointment of Manal Abdel Razek as chairperson of its board of directors, effective April 28, succeeding Hazem Moussa. Abdel Razek offers extensive experience, including her current roles as executive chairperson of New City Housing & Development and senior advisor to TCI Sanmar.
She founded and chaired eFinance, Egypt's leading electronic payments platform, and served as chairperson of Tamweel Mortgage Finance. Abdel Razek held board positions at Misr Iran Development Bank and Arab Investment Bank. Previously, she spent over two decades in government as deputy minister of finance and deputy minister of foreign trade.
John Saad, group CEO, stated: “Abdel Razek’s appointment comes at a defining moment in Contact’s evolution... her depth of experience... will be instrumental in guiding the next phase of our growth.”
Abdel Razek expressed pleasure in joining, noting the group's position to expand financial access. Hazem Barakat of B Investments and Ashraf Zaki of Lorax Capital Partners welcomed the appointment, citing her expertise in governance and strategy.
The firm is advancing its transformation around four pillars: digital value creation, value maximisation, business optimisation, and organisational agility, focusing on digitalisation and broader financial services access.