Wafik Grais - Economic Research Forum (ERF)

Wafik Grais

Research Fellows

Central Bank of the Republic of San Marino

Areas of Interest:

  • Islamic Finance
  • SME Financing
  • Green Development Finance
  • Public Policy and Corporate Governance


  • Ph.D., Economics, University of Geneva, Switzerland, 1977
  • Licence ès Sciences Politiques, University of Geneva, Switzerland, 1973
  • Licence ès Sciences Economiques, University of Geneva, Switzerland, 1970


  • Chairman of the Central Bank of the Republic of San Marino.
  • Independent Consultant, May 2001
  • Chairman and Co-Founder, Viveris Mashrek, Financial Advisors, Cairo, Egypt, Oct.2009-Apr.2011
  • Special Advisor to the President, Viveris Management, private equity investment Management Company, SME specialist, Marseille, France, Feb.2008 – May 2011
  • Senior Advisor, Financial Sector Group, World Bank, Head of the Financial Sector assessment Program, Jul.2001 – Jan.2008

Latest Publications:

  • “Islamic Finance: A Development Opportunity for Egypt”, Prince Alwaleed Center for American Studies and Research (CASAR), American University Cairo, October, 2012
  • “Egypt’s Transition towards a New Governance for Sustainable Development”, German Marshall Fund of the United States, Mediterranean Policy Program, Policy Brief, June, 2012
  • “Islamic Banking: Policy and Institutional Challenges”, Journal of Islamic Economics, Banking and Finance, Volume 4, Number 1, 2008 (January-April)
Working Papers

On the Determinants of Souverign Wealth Funds’ Investments: Are Arab SWFS Different?

The present study investigates the determinants of Arab sovereign wealth funds' (SWFs) investment decisions. Using ... read more

Working Papers

The Changing Financial Landscape: Opportunities and Challenges for The Middle East and North Africa

Economists have come to acknowledge that finance matters for development in more ways than had ... read more

Working Papers

Reflections on East Asia from the Banks of the Nile

Abstract The paper draws some lessons for the Egyptian economy from recent crisis episodes in Latin ... read more


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