4/12/2018 12:00 AM
Commercial International Bank (CIB), Egypt’s leading private-sector bank, announced its sponsorship of the first “CIB-Black Ball Squash Open” in partnership with Black Ball Sporting Club (BBSC). This PSA World Tour men’s event will see 48 top players from all over the world compete for a prize of USD 180,000. Three referees from the World Squash Federation will oversee the tournament held at BBSC’s premises in New Cairo from December 3rd to 9th 2018. This sponsorship is only CIB’s latest effort in its ongoing project to support sports initiatives in Egypt.
“CIB is proud to sponsor a sports event that will bring together top players from places like Switzerland, Colombia, New Zealand, and the United States to compete in Egypt,” said Amr El-Ganainy, CEO of Institutional Banking at CIB. “CIB is committed to supporting sports in Egypt, as we believe they are an excellent outlet for adults and youth alike. CIB has long been a strong supporter of Egyptian squash, and our country proudly boasts the majority of the top ranked squash players in the world. We regard this tournament as an opportunity to bring world class players to Egypt to compete and to further cement Egypt’s position as an international squash hub.”
CIB’s co-sponsorship of this tournament is part of the Bank’s long-standing commitment to supporting squash in Egypt. The Bank has sponsored the Egyptian Squash Federation since 2011, and in 2018, CIB expanded its efforts by supporting the National Women’s and Junior Squash Teams during international championships. CIB is also a partner of Wadi Degla Club’s Darwish Academy, an organization training the next generation of Egyptian squash champions. The Bank has sponsored several top ranked Egyptian squash players, including Aly Farag, who is ranked 2nd on the Men’s PSA World Squash List, and Nour El-Tayeb, who is ranked 3rd on the Women’s PSA World Squash List.
The partnership with BBSC comes as a complementary step in the Bank’s commitment to supporting the squash scene in Egypt. BBSC manages the largest squash court complex in the country and holds annual tournaments for its players as well as national and international competitions designed to encourage Egyptian youth to play squash.
The tournament was announced on November 18th, 2018 at a press conference held at BBSC attended by Minister of Youth and Sports Dr. Ashraf Sobhi and Minister of Tourism Dr. Rania Al Mashat, who have expressed their support for the event. Also in attendance were Mr. Amr El Ganainy, CIB Chief Executive Officer for Institutional Banking; Mr. Ahmed El Abd, Chairman of Black Ball for Investment and Sports Development Company; and Mr. Mohamed Raef, CEO of Black Ball for Investment and Sports Development Company, who will direct the tournament.