Lobna Hilal

Lobna Hilal is currently the Chair of the Board of Directors at Telecom Egypt, becoming the first female to assume this position in the company’s 170-year history. She is a seasoned central banker and economic policymaker with a distinguished track record in investment banking, monetary stability, financial reform, and inclusive finance. Hilal has held several prominent leadership roles across key financial and developmental institutions. She currently holds the position of Non-Executive Chairwoman of the National Bank of Egypt UK Ltd and the Non-Executive Chairperson of City Edge Developments. She also sits -as an Independent board member- on the boards of AlexBank ( Intesa Sanpaolo Group), the Sovereign Fund of Egypt and the Social Housing Fund. In addition, she was the Vice Chair of the Gender & Women Financial Inclusion Committee and Vice-Chair of the Board of Directors at the Alliance for Financial Inclusion. These roles complement her extensive experience in both executive and non-executive positions across numerous leading entities in different sectors. Hilal served as Deputy Governor of the Central Bank of Egypt (CBE) for Monetary Stability during two pivotal terms (2011–2013 and 2015–2019), marking her as the first and only woman to hold this role in the history of the CBE. Her portfolio encompassed Monetary Policy, Reserve Management and Markets, External Relations, Research, IT and Payment Systems, Banking Operations, and Banking Sector Reform. Drawing on her investment banking expertise as an Executive Director at EFG Hermes Hilal decided to join the CBE in 2004, where she was instrumental in designing and executing Egypt’s landmark Banking Sector Reform Program, which played a vital role in shielding the financial system from the adverse effects of the 2008 Global Financial Crisis. In 2016, Lobna Hilal led the development and successful implementation of Egypt’s Homegrown Monetary and Economic Reform Program, supported by the IMF and concluded in 2019. Beyond monetary reform, she spearheaded initiatives in modernizing payment systems—including digital and mobile banking infrastructure, eKYC regulations, and cashless payment frameworks—and championed financial inclusion and Fintech innovation. Her work in these areas laid a foundation that proved critical during the COVID-19 pandemic and beyond. Hilal was chosen among the Most Powerful Women in the Middle East and North Africa by Forbes ME Magazine, ranking 2nd in 2016 and 2017, and 3rd in 2018 in the category of Most Influential Women Heading Government Departments.