Talaat Pasha Harb
Encyclopedia
Talaat Pasha Harb (25 November 1867 - 13 August 1941) was a leading Egyptian
economist and founder of Banque Misr
(The Bank of Egypt), and its group of companies, in May 1920.
owned by Egyptian shareholders and staffed by Egyptian
nationals, where Arabic (the national language) was used in all communications, was a major step in establishing a national economic identity.
The idea of establishing Banque Misr first emerged in 1907, when Talaat Harb, the renowned nationalist industrialist, published a book calling for the founding of a national bank
with Egyptian financing. He called attention to the idle funds invested by foreigners for purposes other than the interests of Egypt. He continued advocating this call on all occasions, with untiring persistence. In 1911, he published another book titled "The Egyptian Economic Reform and the Nation's Bank Project ", where he explained his economic idea.
In recognition of the importance of spreading banking awareness within and outside Egypt, the bank sought to spread its branches all over the country and in several states: Lebanon
, Syria
, Sudan
, Yemen
and Saudi Arabia
.
The bank, under the leadership of Talaat Harb, established a number of companies operating in various sectors, such as: textiles, shipping
, publishing
, movie making, insurance
and the first national airline
: Egypt Air.
He had many roles in many modern Egyptian economic crisis and incidents like Kom Ombo sugar crisis and like cotton trading.
After the declaration of the Republic in Egypt, Talaat Harb was honored by naming several streets and squares in Cairo
and other cities after him. His statue adorns Talaat Harb square in downtown Cairo. In 1980, on the occasion of the sixtieth anniversary of Banque Misr, the late President Anwar Sadat
, awarded Talaat Harb posthumously the Nile Collar, which is the highest ranking of all Egyptian decorations
. It is granted exclusively to kings, heads of state and those who rendered great services on a national or human level in general.
He also initiated many economic projects in Saudi Arabia for which he was acknowledged by presenting two pieces of the Kiswa of Kabaa by HM King ‘Abdul-‘Aziz Al-Sa‘ud of Saudi Arabia in 1936. In 2002 the two Kiswa pieces were donated made by his grandchildren to a museum.
He was commemorated in the writings and poems of the then poet laureate Ahmed Shawqi, Abbas al-Aqqad, Ihsan Abdel-Qoddous, Salah Gawdat and the Lebanese-American Jibran Khalil Jibran.
Egyptians
Egyptians are nation an ethnic group made up of Mediterranean North Africans, the indigenous people of Egypt.Egyptian identity is closely tied to geography. The population of Egypt is concentrated in the lower Nile Valley, the small strip of cultivable land stretching from the First Cataract to...
economist and founder of Banque Misr
Banque Misr
Banque Misr is an Egyptian bank founded by industrialist Talaat Pasha Harb in 1920.- Operations :The bank has branch offices in all of Egypt's governorates, and currency exchange and work permit offices for overseas workers in Egypt.Related organizations: Banque Misr presents long lists of its...
(The Bank of Egypt), and its group of companies, in May 1920.
His works
The establishment of Banque Misr, the first real Egyptian bankBank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
owned by Egyptian shareholders and staffed by Egyptian
Egyptians
Egyptians are nation an ethnic group made up of Mediterranean North Africans, the indigenous people of Egypt.Egyptian identity is closely tied to geography. The population of Egypt is concentrated in the lower Nile Valley, the small strip of cultivable land stretching from the First Cataract to...
nationals, where Arabic (the national language) was used in all communications, was a major step in establishing a national economic identity.
The idea of establishing Banque Misr first emerged in 1907, when Talaat Harb, the renowned nationalist industrialist, published a book calling for the founding of a national bank
National bank
In banking, the term national bank carries several meanings:* especially in developing countries, a bank owned by the state* an ordinary private bank which operates nationally...
with Egyptian financing. He called attention to the idle funds invested by foreigners for purposes other than the interests of Egypt. He continued advocating this call on all occasions, with untiring persistence. In 1911, he published another book titled "The Egyptian Economic Reform and the Nation's Bank Project ", where he explained his economic idea.
In recognition of the importance of spreading banking awareness within and outside Egypt, the bank sought to spread its branches all over the country and in several states: Lebanon
Lebanon
Lebanon , officially the Republic of LebanonRepublic of Lebanon is the most common term used by Lebanese government agencies. The term Lebanese Republic, a literal translation of the official Arabic and French names that is not used in today's world. Arabic is the most common language spoken among...
, Syria
Syria
Syria , officially the Syrian Arab Republic , is a country in Western Asia, bordering Lebanon and the Mediterranean Sea to the West, Turkey to the north, Iraq to the east, Jordan to the south, and Israel to the southwest....
, Sudan
Sudan
Sudan , officially the Republic of the Sudan , is a country in North Africa, sometimes considered part of the Middle East politically. It is bordered by Egypt to the north, the Red Sea to the northeast, Eritrea and Ethiopia to the east, South Sudan to the south, the Central African Republic to the...
, Yemen
Yemen
The Republic of Yemen , commonly known as Yemen , is a country located in the Middle East, occupying the southwestern to southern end of the Arabian Peninsula. It is bordered by Saudi Arabia to the north, the Red Sea to the west, and Oman to the east....
and Saudi Arabia
Saudi Arabia
The Kingdom of Saudi Arabia , commonly known in British English as Saudi Arabia and in Arabic as as-Sa‘ūdiyyah , is the largest state in Western Asia by land area, constituting the bulk of the Arabian Peninsula, and the second-largest in the Arab World...
.
The bank, under the leadership of Talaat Harb, established a number of companies operating in various sectors, such as: textiles, shipping
Shipping
Shipping has multiple meanings. It can be a physical process of transporting commodities and merchandise goods and cargo, by land, air, and sea. It also can describe the movement of objects by ship.Land or "ground" shipping can be by train or by truck...
, publishing
Publishing
Publishing is the process of production and dissemination of literature or information—the activity of making information available to the general public...
, movie making, insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
and the first national airline
Airline
An airline provides air transport services for traveling passengers and freight. Airlines lease or own their aircraft with which to supply these services and may form partnerships or alliances with other airlines for mutual benefit...
: Egypt Air.
He had many roles in many modern Egyptian economic crisis and incidents like Kom Ombo sugar crisis and like cotton trading.
After the declaration of the Republic in Egypt, Talaat Harb was honored by naming several streets and squares in Cairo
Cairo
Cairo , is the capital of Egypt and the largest city in the Arab world and Africa, and the 16th largest metropolitan area in the world. Nicknamed "The City of a Thousand Minarets" for its preponderance of Islamic architecture, Cairo has long been a centre of the region's political and cultural life...
and other cities after him. His statue adorns Talaat Harb square in downtown Cairo. In 1980, on the occasion of the sixtieth anniversary of Banque Misr, the late President Anwar Sadat
Anwar Sadat
Muhammad Anwar al-Sadat was the third President of Egypt, serving from 15 October 1970 until his assassination by fundamentalist army officers on 6 October 1981...
, awarded Talaat Harb posthumously the Nile Collar, which is the highest ranking of all Egyptian decorations
State decoration
State decorations are orders, medals and other decorations granted by a state. International decorations are similar, but are not granted by a specific nation but rather an international organization....
. It is granted exclusively to kings, heads of state and those who rendered great services on a national or human level in general.
He also initiated many economic projects in Saudi Arabia for which he was acknowledged by presenting two pieces of the Kiswa of Kabaa by HM King ‘Abdul-‘Aziz Al-Sa‘ud of Saudi Arabia in 1936. In 2002 the two Kiswa pieces were donated made by his grandchildren to a museum.
Personal life
Talaat Harb lost his wife at a relatively early age. He was survived by his four daughters: Fatma, Aisha, Khadiga and Hoda (Before her death she donated a piece of land & money to build an academic cardic institute at Ain Shams Faculty of medicine).He was commemorated in the writings and poems of the then poet laureate Ahmed Shawqi, Abbas al-Aqqad, Ihsan Abdel-Qoddous, Salah Gawdat and the Lebanese-American Jibran Khalil Jibran.
Projects established by Talaat Harb
Some of them are presented in this list:- 1920: Banque Misr; capital LE80,000
- 1922: Misr Printing House; capital LE5,000
- 1923: The Egyptian Company for Paper Manufacture; capital LE30,000
- 1923: Misr Company for Cotton Ginning; capital LE30,000
- 1925: Misr Company for Acting and Cinema (Studio Misr); capital LE15,000
- 1926: The Egyptian Real Estate Co.; capital LE116,000
- 1926: Egypt-France Bank; capital 5 million F. Francs
- 1927: Misr Weaving Co.; capital LE300,000
- 1927: Misr Fishery Co.; capital LE20,000
- 1927: Misr Silk Weaving Co.; capital LE10,000
- 1927: Misr Linen Co.; capital LE45,000
- 1929: Egypt-Syria Bank; capital one million Syrian Lira
- 1930: Misr Transport and Shipping Co.; capital LE160,000
- 1932: Egyptian Products Sale Co.; capital LE5,000
- 1932: Misr Air Co.; capital LE40,000
- 1934: Egypt Travel Co., capital LE7,000
- 1934: The Egyptian Company for Leather and Tanning
- 1935: Misr for Mines and Quarries Co.; capital LE40,000
- 1937: Misr for the Manufacture and Trade of Oil; capital LE30,000
- 1938: Misr al-Beida for Dyeing, in co-operation with Bradford, capital LE250,000
- 1940: Egypt Medical Pharmaceuticals, capital LE10,000
- 1907 Al-Ahly (The National) Sporting Club (by giving credit to the club foundation committee.