El Waly assumed his current role in 2018. AFIM is the asset management arm of the National Bank of Egypt. AFIM recorded assets under management of around $1.3 billion in 2024. In June 2024, AFIM launched El Ahly Financial Investment Management & Evolve Investment Holding Fund to invest in a physical gold Dahab Fund. El Waly was previously managing director of Al Ahly Pharos.