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FRA Hosts the Award Ceremony for Financial Literacy Competition Held by the Egyptian Federation for Financing MSMEs – Thursday 27 March 2025
The Financial Regulatory Authority (FRA) hosts the award ceremony for Financial Literacy Competition conducted during the holy month of Ramadan at its Smart Village headquarters. The event witnessed the presence of key FRA officials, alongside representatives from the Egyptian Federation for Financing MSMEs and leading companies in the sector, “Tamweely” and “Tasaheel” in addition to the 20 winners from the Federation’s social media competition.
In his opening remarks, Dr. Islam Azzam, FRA Vice Chairman, underscored the critical role of enhancing financial awareness and literacy among the society. He articulated that this is essential for empowering citizens to make sound financial choices and effectively navigate the landscape of non-bank financial instruments and services.
On the other hand, Dr. Mohamed Abdel Aziz, Assistant to FRA Chairman and the driving force behind the Authority’s financial awareness and literacy initiatives, conveyed his sincere appreciation for the dedicated efforts of professional federations, particularly the Egyptian Federation for Financing MSMEs, in enhancing financial literacy. He commended the Federation’s proactive approach and the enthusiastic participation, reiterating FRA’s unwavering commitment to support initiatives that aim to deepen understanding of non-bank financial activities across all segments of society.
The ceremony was further enriched by the participation of Dr. Mona Zulficar, Chairperson of the Egyptian Federation for Financing MSMEs. Her address highlighted FRA’s central role in empowering awareness campaigns and underscored the critical need for continuous synergy between FRA and all relevant partners to achieve widespread financial inclusion across Egypt.
Ahmed Khorshid, CEO and Managing Director of Tamweely, stressed on FRA’s unwavering support for initiatives designed to elevate financial awareness and literacy. He also recognized the Federation’s instrumental role in creating and managing the competition, emphasizing the significance of backing programs that empower young people with knowledge.
Moreover, Mr. Hany Girgis, representing Tasaheel Finance, emphasized the paramount importance of strong partnerships between non-bank financial institutions and FRA. He noted that such collaboration is vital for effectively educating citizens on financial matters and encouraging them to utilize the readily available non-bank financial services.
Dr. Islam Azzam and Dr. Mohamed Abdel Aziz concluded the ceremony by presenting a shield to the Egyptian Federation for Financing MSMEs, acknowledging their significant contributions to promote non-bank financial literacy. This was followed by the enthusiastic awarding of prizes to the winners of the competition. Dr. Mohamed Abdel Aziz reiterated the ongoing commitment to develop similar impactful initiatives so as to strengthen financial literacy and foster sustainable economic progress.
