Saad Farag was born in Cairo, Egypt in 1925.He graduated in 1948 from Fouad I University where he dedicated his studies to accounting and taxation. Upon graduating, Saad Farag started a private accounting ﬁrm in 42 Abdel-Khalek Sarwat St.in Downtown Cairo, Egypt.
Saad Farag appreciated the importance of quality in his ﬁrm’s work and believed in the idea that accounting information could be used to make better business decisions. This in turn would make a difference to his clients’ organizations. He inspired his staff to provide quality service to clients by delivering them accurate quarterly accounting reports in order to assist organization’s management in efficient decision-making.
In 1983 Magdy Saad Farag graduated from Cairo University, with a degree in accounting.After completing his military service, he started his career as an auditor in El khaleeg Egyptian Arab bank in Egypt. By the end of 1984 he had joined his father, learning and benefiting from his expertise in accounting and auditing. With Saad Farag’s passing away in 1994, Magdy Farag eventually took responsibility for the firm.
Armed with his father’s experiences as well as his own, The Saad Farag Accounting Office soon started expanding:
- In 1999 Magdy Farag opened a branch in Hurghada, which caters to 30 companies in Hurghada and El Gouna including diving centers, diving equipment manufacturers and restaurants.
- In 2004 he relocated to larger premises in Downtown Cairo in order to be able to serve his growing number of clients more efficiently.
- The Saad Farag Accounting Office clientele includes:
- Grand Cairo Casinos who operate in Sonesta, Shepherd and
- Balloo Casino who operated in The Four Seasons Hotel until 2008
- Grand Misr Casino who operates in Sonesta Sharm el Sheikh
- El Fagr Newspaper
- Carmen Tissues
- Royal for Herbs
- Tamo Press
- United Beverage and Food (Cinnabon, Ruby Tuesdays, Carvel)