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In 2015, Lobna Helal was appointed Deputy Governor of Egypt’s Central Bank (CBE) by President Abdel Fattah Al-Sisi, a key role during a time of economic turmoil marked by high inflation and a struggling currency. Helal’s appointment was a testament to her expertise, as she had previously made history in 2011 by becoming the first woman to join CBE’s board as Second Deputy Governor, a position she held until her resignation in 2013. Her return signaled the confidence in her leadership to steer the country through its financial challenges.
Helal’s career spans both public and private sectors, notably serving as Chair and Managing Director of the Egyptian Company for Mortgage Refinance, where she played a significant role in improving the housing finance market. This experience broadened her understanding of liquidity management and macroeconomic policy—critical to addressing Egypt’s economic issues.
As Deputy Governor, Helal played an instrumental role in the controversial decision to float the Egyptian pound in 2016. This move, part of broader currency reforms, aimed to curb the black market and secure a $12 billion loan from the International Monetary Fund (IMF). While the devaluation initially spiked inflation, it proved essential in stabilizing Egypt’s economy by reducing the deficit and boosting foreign exchange reserves.
Beyond the CBE, Helal also serves as Deputy Chair of the Egyptian Banking Institute, where she advocates for professional development within Egypt’s banking sector. Her recent appointment to the board of Telecom Egypt further extends her influence in corporate governance. Lobna Helal’s leadership and reform-driven approach continue to cement her legacy as a key figure in Egypt’s economic and financial transformation.
