Prior to joining AUC, Shawki Farag was with the World Bank in Washington D.C., working as a country economist, senior loan officer, resident representative and chief of missions. During his term with the World Bank, Farag conducted extensive macroeconomic and project analyses of most Eastern African countries and some countries in the Middle East. He also maintained an adjunct professorial position at the George Washington University in Washington D.C.

 After his return to Egypt, during the 1980s and the 1990s, Farag was appointed as an adviser to the Egyptian cabinet for the formulation of the economic reform program for Egypt and the multilateral and bilateral rescheduling of external public debts. He also worked as the adviser to the governor of the Central Bank of Egypt where he developed and managed the Egyptian Banking Institute, which is considered to be a landmark in the banking sector in terms of its capacity and quality of training of the human resources of the banking sector.

 Farag also has been a board member of the National Bank of Egypt, the biggest bank in the country, for more than ten years, in addition to being a board member of the Metallurgical Industries Holding Company. Farag has also served as a visiting scholar/professor and/or distinguished visiting professor at the American University of Beirut, Lebanon; the University of Kyoto in Japan; the University of Lausanne in Switzerland; California State University at Sacramento, USA; and the University of Illinois, United States. He is currently a board member of the Baraka Bank. 

 Farag developed the accounting major at AUC. He also contributed a book and several articles in his field, all published in leading professional periodicals. Farag is also an active member of professional organizations and associations in the field of accounting in the United States and Europe. 

 Farag holds a BCom from Ain Shams University, an MA in economics from Yale University, and an MSc and a PhD in accounting from the University of Illinois. His research interests cover international accounting issues, managerial accounting and business finance.

Economic Developments, Applications to Business Accounting