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Wed 23 Nov 2016 11:18 AM

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ADIB Egypt CEO murdered at Cairo home

Nevine Loutfy’s body found with multiple stab wounds on Tuesday

ADIB Egypt CEO murdered at Cairo home

The CEO of Abu Dhabi Islamic Bank (ADIB)’s Egypt business was found murdered at her home in Cairo on Tuesday, the group has confirmed.

Local media reported that Nevine Loutfy’s body was discovered with multiple stab wounds at her home on the outskirts of the Egyptian capital.

An investigation and forensic team was said to have arrived at the scene shortly after the incident.

An ADIB spokesperson said in an emailed statement to Arabian Business: “We can confirm that ADIB’s CEO in Egypt Nevine Loutfy has passed away. 

“We offer our deep condolences to Nevine’s family and colleagues.”

Loutfy began her banking career with Citibank in 1976 when she joined the Cairo office as a financial analyst. She graduated with a BA in Economics from the American University in Cairo.

With over three decades of banking experience, she became the first Arab woman to lead an Islamic bank when she joined ADIB in 2008.

Her primary areas of expertise included local corporate and SME business management, in addition to credit risk and capital management.

Egyptian banking industry figures on Tuesday spoke of their loss, with Hesham Ezz Al Arab, chairman of the Egyptian Federation of Banks, quoted as saying: “Our world is poorer today.

“All of our members mourn the passing of a woman who was not just a consummate professional — an excellent banker and helpful colleague — but of a good, moral and positive human being who many of us were honoured to call a personal friend.

“Nevine will be greatly missed.”

An investigation is understood to be under way.