الهيئة العامة للرقابة المالية

Dr. Islam Azzam, FRA Chairman:

• FRA-led empowerment policies and training have successfully increased female board representation across the sector.
• The Authority’s goal is to cultivate a supportive environment that empowers women to lead and excel across the Non-Banking Financial Sector.

Dr. Islam Azzam, FRA Chairman delivered the opening keynote at the Egyptian Exchange (EGX) “Ring the Bell for Gender Equality” ceremony. This landmark event, held at the historic EGX headquarters, convened high-level leaders from the FRA and EGX alongside prominent representatives from global institutions.

Dr. Azzam underscored women’s empowerment as a fundamental pillar of sustainable development and a strategic imperative for driving inclusive growth and social stability amidst rapid economic shifts.

FRA Chairman noted that this celebration reflects the State’s profound appreciation for women as indispensable partners in the national development agenda. He highlighted that the progress achieved in recent years establishes a robust foundation for optimizing the potential of female talent, particularly within the Non-Banking Financial Sector (NBFS), which continues to see a significant uptick in female participation across all organizational tiers.

FRA Chairman explained that the Authority has adopted an integrated vision that redefines empowerment beyond mere opportunity. This vision focuses on cultivating a high-performance ecosystem that enables women to scale their capabilities and assume pivotal decision-making roles, while systematically removing institutional barriers that may impede their professional pathways.

Additionally, Dr. Azzam stated that FRA is dedicated to align its operations with global ESG standards and the UN SDGs through strategic international cooperation. He pointed to a transformative suite of regulations that has institutionalized gender diversity across NBFS boards—mandating at least two women or 25% representation. These mandates strengthen sectoral governance by strictly prohibiting gender-based discrimination while providing incentives for firms that lead in diversity and inclusion.

The Authority prioritizes institutional capacity building through specialized leadership programs. A flagship initiative is the “Certified Board Member” program, launched by the Egyptian Institute of Directors (EIoD) in collaboration with the International Finance Corporation (IFC). Furthermore, “Tamkeen” digital platform was developed as a strategic tool to bridge the gap between highly qualified female professionals and board-level vacancies.

In parallel, ‘Women on Boards’ initiative was executed through a strategic synergy between the Regional Center for Sustainable Finance (RCSF) and the Fulbright Program. This collaboration delivered a series of high-impact, interactive workshops and executive forums aimed at cultivating the leadership readiness and professional stature of female executives, effectively optimizing the executive resource pool for pivotal decision-making.

He noted that these efforts have led to tangible progress, with female board representation rising significantly in recent years. This reflects the effectiveness of FRA’s current policies and confirms that the Authority is on the right track toward genuine and sustainable empowerment.

Dr. Azzam emphasized FRA’s ongoing support for women’s empowerment in the non-banking financial sector. These initiatives drive financial, investment, and insurance inclusion, fostering a sustainable economy built on equal opportunity.

Concluding his address, Dr. Azzam added that the path forward requires further effort and integration across various sectors, emphasizing that women’s empowerment is not just an institutional obligation, but an investment in a brighter future for all