Media Center
أحداث وفاعليات الهيئةFRA Chairman Participates in Al Baraka Regional Forum Alongside Governor of Central Bank of Iraq and Dr. Mahmoud Mohieldin – Wednesday 17 December 2025
- In-depth talks addressed development finance and the global debt crisis, emphasizing ethical and sustainable financing.
FRA Chairman Participates in Al Baraka Regional Forum Alongside Governor of Central Bank of Iraq and Dr. Mahmoud Mohieldin – Wednesday 17 December 2025
- In-depth talks addressed development finance and the global debt crisis, emphasizing ethical and sustainable financing.
Dr. Mohamed Farid:
- Low savings rates are a primary driver of escalating debt.
- Nations are responsible for financing their own development through diverse mechanisms; their future lies solely in their own hands.
- The Egyptian market is witnessing a surge in sustainability bond issuances.
- Market stability is a fundamental prerequisite for maximizing financing impact.
- Real Estate Investment Trusts (REITs) are witnessing unprecedented expansion.
Dr. Mohamed Farid, FRA Chairman participated in the opening session of the 5th edition of Al Baraka Regional Forum in Cairo, held in strategic partnership with the Arab League. The session was moderated by Dr. Mahmoud Mohieldin, UN Special Envoy on Financing the 2030 Sustainable Development Agenda and featured Dr. Ali Mohsen Al-Alaq, Governor of the Central Bank of Iraq.
Dr. Farid emphasized that nations must precisely define the responsibility for development finance. He explained that current challenges are symptoms of low national savings rates, which drive an increased reliance on borrowing – a cycle that has escalated into the current global debt crisis.
He highlighted the critical need to establish channels that facilitate savings and subsequent investment. This approach provides essential funding for diverse initiatives, spanning both “bankable” and “unbankable” projects.
FRA Chairman stressed that nations must realize that their growth and future prosperity lie solely in their own hands. Consequently, countries must take full responsibility for financing their development through diversified and innovative mechanisms.
Dr. Farid noted the shifting landscape of debt ownership. Unlike the previous three decades – when the Paris Club held the majority of sovereign debt – today’s debt is fragmented and distributed among a much wider array of creditors and stakeholders.
He pointed out that FRA has implemented a comprehensive legislative and regulatory reform. Driven by a belief in Sharia-compliant instruments, these reforms have successfully activated sustainable and Islamic finance tools, including the regulation of Sukuk issuances and Takaful insurance.
The Chairman highlighted the evolution of Sharia supervisory sub-committees within FRA-regulated institutions. He noted the maturing dynamics and workflows between these sub-committees and FRA’s Central Sharia Oversight Committee.
Dr. Farid underscored that achieving desired outcomes and meeting Sustainable Development Goals (SDGs) fundamentally depends on the will and diligent effort.
He emphasized that balancing oversight with empowerment is critical. He noted that any financial regulator’s primary objectives are to ensure market stability and protect all participants – whether they are capital market investors, insurance policyholders or consumers of non-banking financial services (NBFS).
He continued by stating that market stability, coupled with advanced regulatory frameworks, is a prerequisite for driving development, expanding market size and leveraging diverse financing tools. He pointed out his efforts to develop the sustainability bond activity in Egypt, which lacked clear regulation prior to his leadership at the Authority.
In response to a query from Dr. Mahmoud Mohieldin regarding the latest developments in the NBFS sector, FRA Chairman highlighted the decisive role of new legislative and regulatory frameworks in activating a wide array of financing instruments.
He noted the significant progress in sustainability bonds, highlighting Egypt’s first sustainability bond issuance in 2024, valued at $100 million. This was followed by the issuance of sustainability-linked securitization bonds worth $499 million in February 2024.
He added that further securitization bonds worth EGP 11.5 billion were issued, alongside the Egyptian market’s inaugural sustainability Sukuk issuance, valued at EGP 11 billion in May 2024.
Dr. Farid asserted that the lack of clear definitions had been a major hurdle for years. The development of robust regulatory rules has enabled projects that were previously excluded from traditional financing to access capital, thereby supporting the real economy and creating jobs.
He revealed that the number of real estate funds in Egypt had stagnated at just two from 2020 until 2025. However, recent regulatory amendments sparked a surge, with approximately 12 funds applying for licenses within just three months, supported by eight digital crowdfunding platforms dedicated to these funds.
He also pointed to the growth of Islamic Sukuk issuances following executive amendments to the Capital Market Law that standardized Sukuk definitions. These changes led to a significant increase in total issuances, reaching EGP 33.5 billion.
Furthermore, he noted that FinTech and crowdfunding have expanded the investor base, empowering new segments of society to participate in investment opportunities, particularly within the real estate and development sectors.
FRA has also enabled electronic “Know Your Customer” (E-KYC) procedures. To date, approximately 400,000 digital verification transactions have been completed.
Dr. Farid stressed the necessity of offering Islamic financing tools through digital platforms to align with the preferences and behaviors of younger generations, specifically Generation Z and Generation Alpha.
He concluded by emphasizing that the role of financial regulation extends beyond merely encouraging innovation; its core purpose is to achieve financial stability and protect investor rights. This foundation ensures sustainable market growth, bolsters confidence in new financing tools and transforms them into a genuine engine for development finance.
FRA Chairman Participates in Hapi’s 7th Annual Conference on Egyptian Economy Competitiveness – Tuesday 16 December 2025
Dr. Mohamed Farid – FRA Chairman:
- Policies within the non-banking financial sector (NBFS) prioritize stability, product diversification and investor attraction while safeguarding participant rights.
- Market capitalization has reached EGP 3 trillion, with daily trading volumes hitting EGP 8 billion.
- Short selling and Market Making mechanisms will be introduced very soon to enhance liquidity and diversify investment products.
- EGX will be formally licensed to trade derivatives by the end of January.
- New frameworks for title insurance and private pension funds will drive long-term savings and enhance systemic financial stability.
- Citizens should not face life’s risks alone – insurance services are essential to providing necessary protection.
- Regulating non-banking finance activities marks a turning point in enhancing stability and meeting societal needs, supported by periodic oversight to ensure transactions’ integrity.
Dr. Mohamed Farid confirmed that the Egyptian capital market has undergone rapid and unprecedented developments in recent years. This progress is evident in the surging number of new investors and the substantial growth in the size and value of investment funds. These milestones are a direct result of a comprehensive package of regulatory and legislative reforms implemented by the Financial Regulatory Authority (FRA). These reforms focused on developing financing mechanisms, enhancing market efficiency and expanding non-banking financial services (NBFS) to bolster financial inclusion and link markets to the real economy.
In his keynote address at Hapi’s 7th Annual Conference, Dr. Farid added that these developments were not accidental but the product of integrated strategic plans. These were executed under a clear vision to build a new regulatory framework for all NBFS activities and products, while remaining tailored to the unique characteristics and needs of the Egyptian market.
He further explained: “Driven by our belief in institutional integration, we have ensured that NBFS regulations are grounded in practical reality. We do not operate in isolation; rather, we maintain continuous coordination with the Egyptian government, its ministries and relevant authorities.”
Dr. Farid emphasized that FRA has adopted growth-oriented policies designed to strike a balance between maintaining financial stability and driving market expansion and development, all while safeguarding the rights of market participants.
He continued that these policies included developing the legislative framework, updating regulatory rules, introducing new financial products and streamlining procedures. Such efforts enhance market attractiveness and depth while maintaining the highest levels of regulatory discipline and investor protection.
He highlighted entrepreneurship, investment funds, real estate crowdfunding and venture capital as priority areas in recent years. These are viewed as vital instruments for supporting economic growth, fostering innovation, providing diverse, sustainable funding sources for startups and emerging projects.
Dr. Farid noted that FRA views financial services as an inherent right for citizens and consumers. Structured savings and access to insurance are fundamental to the financial stability of individuals and families. He stressed that insurance is more than just a financial product; it is a critical tool for risk management and protecting citizens’ livelihoods.
He reiterated that the core role of any financial regulator is to achieve financial and market stability, as these are the pillars of trust in the financial system. Once stability is secured, the focus shifts to market development and maximizing its role, depth and overall efficiency.
He pointed out that FRA’s executive plan for market evolution was built on several key pillars. These include reshaping the public perception of NBFS activities and continuously refining regulatory decisions based on global best practices. Additionally, the plan involved the implementation of 14 governing laws, 11 of which were issued directly, while FRA plays a pivotal role in the application of the remaining three.
Within the framework of developing the legislative environment, we have updated rules and regulations to “localize” global standards, ensuring they align with the specific nature of the domestic market. This is clearly exemplified by the introduction of Special Purpose Acquisition Companies (SPACs) which led to the launch of Egypt’s first SPAC, a move that underscores the Egyptian market’s capacity to adopt modern financial instruments.
The Authority also introduced the regulated carbon markets. This pioneering initiative reflects Egypt’s commitment to sustainable finance by linking financial markets to climate change issues. Furthermore, the early move to mandate that financial institutions measure their carbon footprints has placed the Egyptian market ahead of many international peers.
These efforts have yielded positive performance indicators across the non-banking financial sector (NBFS). Market capitalization has reached approximately EGP 3 trillion, with daily trading volumes nearing EGP 8 billion. Additionally, there has been a significant expansion in the beneficiary base for consumer finance, microfinance and insurance activities.
To further enhance trading mechanisms, FRA is currently working on introducing new financial products, including Short Selling and Market Making activities, following precise technical and regulatory adjustments to maximize their impact on liquidity and trading. Furthermore, FRA intends to grant the Egyptian Exchange a derivatives trading license by the end of January, as part of ongoing coordination to attract new investor segments and diversify investment tools.
Regarding digital transformation, FRA has issued the first license for a micro-insurance company and are simultaneously building a robust technological infrastructure for all NBFS sectors. Electronic “Know Your Customer” (e-KYC) standards have been implemented, with approximately 400,000 digital verifications successfully completed, enhancing operational efficiency and user experience.
Dr. Farid also revealed the launch of “Title Insurance” as an innovative regulatory and insurance tool. This product aims to secure stable property titles and protect buyers from the risks of historical ownership disputes, thereby boosting confidence in the real estate market and supporting development and investment.
FRA Chairman noted that regulating activities like consumer finance and microfinance has had a direct impact on citizens’ lives. Durable goods and vehicles constitute about 80% of consumer finance portfolios. Furthermore, FRA survey on microfinance revealed that 75% of participants benefited significantly, among them was a woman working in livestock farming who noted that financing enabled her to secure fodder and improve her economic activity.
To support long-term savings, he confirmed that FRA is working on regulating and launching “Private Pension Holding Funds” as qualified savings vehicles. These funds will provide diverse investment tools, help increase national savings rates and bolster individual financial stability while supplying the capital market with long-term capital, he highlighted a marked increase in insurance premium volumes.
Dr. Farid concluded by stressing that citizens must recognize that they cannot face life’s risks alone without utilizing available insurance services. He called on insurance companies to expand their reach to the widest possible audience, especially now that regulations permit selling insurance policies through e-platforms.
FRA and MoYS Launch Youth Sports Festival, Bolstering Financial Literacy – Tuesday 16 December 2025
Youth Sports Festival was initiated as a strategic effort to enhance financial literacy. The event achieved significant reach, attracting large numbers of participants both physically at Gezira Youth Development Center and affiliated youth centers, as well as through extensive online participation.
The festival was held through the ongoing institutional partnership between Financial Regulatory Authority (FRA) and Ministry of Youth and Sports (MoYS). Their central objective is to enhance financial literacy among youth and adolescents, introducing them to non-banking financial services and empowering them to make sound economic decisions. This endeavor directly supports Egypt’s national strategy for achieving financial inclusion and fostering sustainable economic development.
The event successfully drew over 200 young men and women from numerous Egyptian universities and schools, primarily engaging members of clubs and youth centers. Significantly, the festival achieved even greater reach through extensive digital engagement, with youth participating via electronic live streaming from numerous governorates
Kicking off the festival, Dr. Mohamed Abdel Aziz, Assistant to FRA Chairman, delivered a specialized awareness lecture. He introduced the concept of non-banking financial services and their pivotal role in supporting the national economy and empowering youth economically. The presentation also covered the difference between banking and non-banking sectors, the evolution of the latter in Egypt and highlighted key sectors: Capital Markets, Insurance, Microfinance, Real Estate Finance, Financial Leasing, Factoring and Consumer Finance.
During his speech, Dr. Abdel Aziz emphasized the importance of utilizing these activities safely and responsibly. He underscored their role in supporting Small and Medium Enterprises (SMEs), promoting a culture of saving and investment and enhancing employment and entrepreneurship opportunities among youth, all of which contribute to financial inclusion.
He further highlighted the importance of consumer protection mechanisms and the urgent need to raise awareness on risks associated with unlicensed financial entities. Dr. Abdel Aziz stressed that financial literacy is a fundamental tool not only for building a sustainable professional and economic future, but also for safeguarding the rights of participants across the non-banking financial markets.
The festival activities also featured a theatrical performance titled “Dababis” by “Nawa” troupe from Monufia Governorate. This play addressed several youth awareness topics, including combating violence against women, women’s employment and the importance of family dialogue, as part of the activities of the MoYS Central Administration for Youth Empowerment. The events further included various sports activities – among them football, table tennis and fitness – in cooperation with the Central Administration for Sports Development.
Several leaders attended the events from Ministry of Youth and Sports, Financial Regulatory Authority and representatives from Etijah – Youth and Development Consultancy Institute.
This event reaffirms the institutional partnership between the Authority and the Ministry of Youth and Sports, alongside their crucial cooperation with various national and international entities. This collaboration is vital for supporting and empowering Egyptian youth and for promoting financial literacy, which are recognized as essential pillars for sustainable economic development and human capacity building.
مؤتمرات و ندوات
Press ReleasesFRA Chairman Participates in Al Baraka Regional Forum Alongside Governor of Central Bank of Iraq and Dr. Mahmoud Mohieldin – Wednesday 17 December 2025
- In-depth talks addressed development finance and the global debt crisis, emphasizing ethical and sustainable financing.
Press ReleasesFRA Chairman Participates in Al Baraka Regional Forum Alongside Governor of Central Bank of Iraq and Dr. Mahmoud Mohieldin – Wednesday 17 December 2025
- In-depth talks addressed development finance and the global debt crisis, emphasizing ethical and sustainable financing.
FRA Chairman Participates in Al Baraka Regional Forum Alongside Governor of Central Bank of Iraq and Dr. Mahmoud Mohieldin – Wednesday 17 December 2025
- In-depth talks addressed development finance and the global debt crisis, emphasizing ethical and sustainable financing.
Dr. Mohamed Farid:
- Low savings rates are a primary driver of escalating debt.
- Nations are responsible for financing their own development through diverse mechanisms; their future lies solely in their own hands.
- The Egyptian market is witnessing a surge in sustainability bond issuances.
- Market stability is a fundamental prerequisite for maximizing financing impact.
- Real Estate Investment Trusts (REITs) are witnessing unprecedented expansion.
Dr. Mohamed Farid, FRA Chairman participated in the opening session of the 5th edition of Al Baraka Regional Forum in Cairo, held in strategic partnership with the Arab League. The session was moderated by Dr. Mahmoud Mohieldin, UN Special Envoy on Financing the 2030 Sustainable Development Agenda and featured Dr. Ali Mohsen Al-Alaq, Governor of the Central Bank of Iraq.
Dr. Farid emphasized that nations must precisely define the responsibility for development finance. He explained that current challenges are symptoms of low national savings rates, which drive an increased reliance on borrowing – a cycle that has escalated into the current global debt crisis.
He highlighted the critical need to establish channels that facilitate savings and subsequent investment. This approach provides essential funding for diverse initiatives, spanning both “bankable” and “unbankable” projects.
FRA Chairman stressed that nations must realize that their growth and future prosperity lie solely in their own hands. Consequently, countries must take full responsibility for financing their development through diversified and innovative mechanisms.
Dr. Farid noted the shifting landscape of debt ownership. Unlike the previous three decades – when the Paris Club held the majority of sovereign debt – today’s debt is fragmented and distributed among a much wider array of creditors and stakeholders.
He pointed out that FRA has implemented a comprehensive legislative and regulatory reform. Driven by a belief in Sharia-compliant instruments, these reforms have successfully activated sustainable and Islamic finance tools, including the regulation of Sukuk issuances and Takaful insurance.
The Chairman highlighted the evolution of Sharia supervisory sub-committees within FRA-regulated institutions. He noted the maturing dynamics and workflows between these sub-committees and FRA’s Central Sharia Oversight Committee.
Dr. Farid underscored that achieving desired outcomes and meeting Sustainable Development Goals (SDGs) fundamentally depends on the will and diligent effort.
He emphasized that balancing oversight with empowerment is critical. He noted that any financial regulator’s primary objectives are to ensure market stability and protect all participants – whether they are capital market investors, insurance policyholders or consumers of non-banking financial services (NBFS).
He continued by stating that market stability, coupled with advanced regulatory frameworks, is a prerequisite for driving development, expanding market size and leveraging diverse financing tools. He pointed out his efforts to develop the sustainability bond activity in Egypt, which lacked clear regulation prior to his leadership at the Authority.
In response to a query from Dr. Mahmoud Mohieldin regarding the latest developments in the NBFS sector, FRA Chairman highlighted the decisive role of new legislative and regulatory frameworks in activating a wide array of financing instruments.
He noted the significant progress in sustainability bonds, highlighting Egypt’s first sustainability bond issuance in 2024, valued at $100 million. This was followed by the issuance of sustainability-linked securitization bonds worth $499 million in February 2024.
He added that further securitization bonds worth EGP 11.5 billion were issued, alongside the Egyptian market’s inaugural sustainability Sukuk issuance, valued at EGP 11 billion in May 2024.
Dr. Farid asserted that the lack of clear definitions had been a major hurdle for years. The development of robust regulatory rules has enabled projects that were previously excluded from traditional financing to access capital, thereby supporting the real economy and creating jobs.
He revealed that the number of real estate funds in Egypt had stagnated at just two from 2020 until 2025. However, recent regulatory amendments sparked a surge, with approximately 12 funds applying for licenses within just three months, supported by eight digital crowdfunding platforms dedicated to these funds.
He also pointed to the growth of Islamic Sukuk issuances following executive amendments to the Capital Market Law that standardized Sukuk definitions. These changes led to a significant increase in total issuances, reaching EGP 33.5 billion.
Furthermore, he noted that FinTech and crowdfunding have expanded the investor base, empowering new segments of society to participate in investment opportunities, particularly within the real estate and development sectors.
FRA has also enabled electronic “Know Your Customer” (E-KYC) procedures. To date, approximately 400,000 digital verification transactions have been completed.
Dr. Farid stressed the necessity of offering Islamic financing tools through digital platforms to align with the preferences and behaviors of younger generations, specifically Generation Z and Generation Alpha.
He concluded by emphasizing that the role of financial regulation extends beyond merely encouraging innovation; its core purpose is to achieve financial stability and protect investor rights. This foundation ensures sustainable market growth, bolsters confidence in new financing tools and transforms them into a genuine engine for development finance.
FRA Chairman Participates in Hapi’s 7th Annual Conference on Egyptian Economy Competitiveness – Tuesday 16 December 2025
Dr. Mohamed Farid – FRA Chairman:
- Policies within the non-banking financial sector (NBFS) prioritize stability, product diversification and investor attraction while safeguarding participant rights.
- Market capitalization has reached EGP 3 trillion, with daily trading volumes hitting EGP 8 billion.
- Short selling and Market Making mechanisms will be introduced very soon to enhance liquidity and diversify investment products.
- EGX will be formally licensed to trade derivatives by the end of January.
- New frameworks for title insurance and private pension funds will drive long-term savings and enhance systemic financial stability.
- Citizens should not face life’s risks alone – insurance services are essential to providing necessary protection.
- Regulating non-banking finance activities marks a turning point in enhancing stability and meeting societal needs, supported by periodic oversight to ensure transactions’ integrity.
Dr. Mohamed Farid confirmed that the Egyptian capital market has undergone rapid and unprecedented developments in recent years. This progress is evident in the surging number of new investors and the substantial growth in the size and value of investment funds. These milestones are a direct result of a comprehensive package of regulatory and legislative reforms implemented by the Financial Regulatory Authority (FRA). These reforms focused on developing financing mechanisms, enhancing market efficiency and expanding non-banking financial services (NBFS) to bolster financial inclusion and link markets to the real economy.
In his keynote address at Hapi’s 7th Annual Conference, Dr. Farid added that these developments were not accidental but the product of integrated strategic plans. These were executed under a clear vision to build a new regulatory framework for all NBFS activities and products, while remaining tailored to the unique characteristics and needs of the Egyptian market.
He further explained: “Driven by our belief in institutional integration, we have ensured that NBFS regulations are grounded in practical reality. We do not operate in isolation; rather, we maintain continuous coordination with the Egyptian government, its ministries and relevant authorities.”
Dr. Farid emphasized that FRA has adopted growth-oriented policies designed to strike a balance between maintaining financial stability and driving market expansion and development, all while safeguarding the rights of market participants.
He continued that these policies included developing the legislative framework, updating regulatory rules, introducing new financial products and streamlining procedures. Such efforts enhance market attractiveness and depth while maintaining the highest levels of regulatory discipline and investor protection.
He highlighted entrepreneurship, investment funds, real estate crowdfunding and venture capital as priority areas in recent years. These are viewed as vital instruments for supporting economic growth, fostering innovation, providing diverse, sustainable funding sources for startups and emerging projects.
Dr. Farid noted that FRA views financial services as an inherent right for citizens and consumers. Structured savings and access to insurance are fundamental to the financial stability of individuals and families. He stressed that insurance is more than just a financial product; it is a critical tool for risk management and protecting citizens’ livelihoods.
He reiterated that the core role of any financial regulator is to achieve financial and market stability, as these are the pillars of trust in the financial system. Once stability is secured, the focus shifts to market development and maximizing its role, depth and overall efficiency.
He pointed out that FRA’s executive plan for market evolution was built on several key pillars. These include reshaping the public perception of NBFS activities and continuously refining regulatory decisions based on global best practices. Additionally, the plan involved the implementation of 14 governing laws, 11 of which were issued directly, while FRA plays a pivotal role in the application of the remaining three.
Within the framework of developing the legislative environment, we have updated rules and regulations to “localize” global standards, ensuring they align with the specific nature of the domestic market. This is clearly exemplified by the introduction of Special Purpose Acquisition Companies (SPACs) which led to the launch of Egypt’s first SPAC, a move that underscores the Egyptian market’s capacity to adopt modern financial instruments.
The Authority also introduced the regulated carbon markets. This pioneering initiative reflects Egypt’s commitment to sustainable finance by linking financial markets to climate change issues. Furthermore, the early move to mandate that financial institutions measure their carbon footprints has placed the Egyptian market ahead of many international peers.
These efforts have yielded positive performance indicators across the non-banking financial sector (NBFS). Market capitalization has reached approximately EGP 3 trillion, with daily trading volumes nearing EGP 8 billion. Additionally, there has been a significant expansion in the beneficiary base for consumer finance, microfinance and insurance activities.
To further enhance trading mechanisms, FRA is currently working on introducing new financial products, including Short Selling and Market Making activities, following precise technical and regulatory adjustments to maximize their impact on liquidity and trading. Furthermore, FRA intends to grant the Egyptian Exchange a derivatives trading license by the end of January, as part of ongoing coordination to attract new investor segments and diversify investment tools.
Regarding digital transformation, FRA has issued the first license for a micro-insurance company and are simultaneously building a robust technological infrastructure for all NBFS sectors. Electronic “Know Your Customer” (e-KYC) standards have been implemented, with approximately 400,000 digital verifications successfully completed, enhancing operational efficiency and user experience.
Dr. Farid also revealed the launch of “Title Insurance” as an innovative regulatory and insurance tool. This product aims to secure stable property titles and protect buyers from the risks of historical ownership disputes, thereby boosting confidence in the real estate market and supporting development and investment.
FRA Chairman noted that regulating activities like consumer finance and microfinance has had a direct impact on citizens’ lives. Durable goods and vehicles constitute about 80% of consumer finance portfolios. Furthermore, FRA survey on microfinance revealed that 75% of participants benefited significantly, among them was a woman working in livestock farming who noted that financing enabled her to secure fodder and improve her economic activity.
To support long-term savings, he confirmed that FRA is working on regulating and launching “Private Pension Holding Funds” as qualified savings vehicles. These funds will provide diverse investment tools, help increase national savings rates and bolster individual financial stability while supplying the capital market with long-term capital, he highlighted a marked increase in insurance premium volumes.
Dr. Farid concluded by stressing that citizens must recognize that they cannot face life’s risks alone without utilizing available insurance services. He called on insurance companies to expand their reach to the widest possible audience, especially now that regulations permit selling insurance policies through e-platforms.
FRA and MoYS Launch Youth Sports Festival, Bolstering Financial Literacy – Tuesday 16 December 2025
Youth Sports Festival was initiated as a strategic effort to enhance financial literacy. The event achieved significant reach, attracting large numbers of participants both physically at Gezira Youth Development Center and affiliated youth centers, as well as through extensive online participation.
The festival was held through the ongoing institutional partnership between Financial Regulatory Authority (FRA) and Ministry of Youth and Sports (MoYS). Their central objective is to enhance financial literacy among youth and adolescents, introducing them to non-banking financial services and empowering them to make sound economic decisions. This endeavor directly supports Egypt’s national strategy for achieving financial inclusion and fostering sustainable economic development.
The event successfully drew over 200 young men and women from numerous Egyptian universities and schools, primarily engaging members of clubs and youth centers. Significantly, the festival achieved even greater reach through extensive digital engagement, with youth participating via electronic live streaming from numerous governorates
Kicking off the festival, Dr. Mohamed Abdel Aziz, Assistant to FRA Chairman, delivered a specialized awareness lecture. He introduced the concept of non-banking financial services and their pivotal role in supporting the national economy and empowering youth economically. The presentation also covered the difference between banking and non-banking sectors, the evolution of the latter in Egypt and highlighted key sectors: Capital Markets, Insurance, Microfinance, Real Estate Finance, Financial Leasing, Factoring and Consumer Finance.
During his speech, Dr. Abdel Aziz emphasized the importance of utilizing these activities safely and responsibly. He underscored their role in supporting Small and Medium Enterprises (SMEs), promoting a culture of saving and investment and enhancing employment and entrepreneurship opportunities among youth, all of which contribute to financial inclusion.
He further highlighted the importance of consumer protection mechanisms and the urgent need to raise awareness on risks associated with unlicensed financial entities. Dr. Abdel Aziz stressed that financial literacy is a fundamental tool not only for building a sustainable professional and economic future, but also for safeguarding the rights of participants across the non-banking financial markets.
The festival activities also featured a theatrical performance titled “Dababis” by “Nawa” troupe from Monufia Governorate. This play addressed several youth awareness topics, including combating violence against women, women’s employment and the importance of family dialogue, as part of the activities of the MoYS Central Administration for Youth Empowerment. The events further included various sports activities – among them football, table tennis and fitness – in cooperation with the Central Administration for Sports Development.
Several leaders attended the events from Ministry of Youth and Sports, Financial Regulatory Authority and representatives from Etijah – Youth and Development Consultancy Institute.
This event reaffirms the institutional partnership between the Authority and the Ministry of Youth and Sports, alongside their crucial cooperation with various national and international entities. This collaboration is vital for supporting and empowering Egyptian youth and for promoting financial literacy, which are recognized as essential pillars for sustainable economic development and human capacity building.
FRA in the Newsالقرية الذكية- 10 نوفمبر 2020 : د. عمران بصفته رئيساً لمجلس إدارة معهد الخدمات المالية يوقع اتفاقاً مع معهد دراسات البورصة IEB الإسباني لمنح درجة الماجستير في الأسواق المالية بحضور السفير الإسباني بالقاهرة ،وسفيرنا في مدريد عبر تقنية الفيديو كونفرس
FRA Chairman Participates in Al Baraka Regional Forum Alongside Governor of Central Bank of Iraq and Dr. Mahmoud Mohieldin – Wednesday 17 December 2025
- In-depth talks addressed development finance and the global debt crisis, emphasizing ethical and sustainable financing.
القرية الذكية- 10 نوفمبر 2020 : د. عمران بصفته رئيساً لمجلس إدارة معهد الخدمات المالية يوقع اتفاقاً مع معهد دراسات البورصة IEB الإسباني لمنح درجة الماجستير في الأسواق المالية بحضور السفير الإسباني بالقاهرة ،وسفيرنا في مدريد عبر تقنية الفيديو كونفرس
FRA Chairman Participates in Al Baraka Regional Forum Alongside Governor of Central Bank of Iraq and Dr. Mahmoud Mohieldin – Wednesday 17 December 2025
- In-depth talks addressed development finance and the global debt crisis, emphasizing ethical and sustainable financing.
Dr. Mohamed Farid:
- Low savings rates are a primary driver of escalating debt.
- Nations are responsible for financing their own development through diverse mechanisms; their future lies solely in their own hands.
- The Egyptian market is witnessing a surge in sustainability bond issuances.
- Market stability is a fundamental prerequisite for maximizing financing impact.
- Real Estate Investment Trusts (REITs) are witnessing unprecedented expansion.
Dr. Mohamed Farid, FRA Chairman participated in the opening session of the 5th edition of Al Baraka Regional Forum in Cairo, held in strategic partnership with the Arab League. The session was moderated by Dr. Mahmoud Mohieldin, UN Special Envoy on Financing the 2030 Sustainable Development Agenda and featured Dr. Ali Mohsen Al-Alaq, Governor of the Central Bank of Iraq.
Dr. Farid emphasized that nations must precisely define the responsibility for development finance. He explained that current challenges are symptoms of low national savings rates, which drive an increased reliance on borrowing – a cycle that has escalated into the current global debt crisis.
He highlighted the critical need to establish channels that facilitate savings and subsequent investment. This approach provides essential funding for diverse initiatives, spanning both “bankable” and “unbankable” projects.
FRA Chairman stressed that nations must realize that their growth and future prosperity lie solely in their own hands. Consequently, countries must take full responsibility for financing their development through diversified and innovative mechanisms.
Dr. Farid noted the shifting landscape of debt ownership. Unlike the previous three decades – when the Paris Club held the majority of sovereign debt – today’s debt is fragmented and distributed among a much wider array of creditors and stakeholders.
He pointed out that FRA has implemented a comprehensive legislative and regulatory reform. Driven by a belief in Sharia-compliant instruments, these reforms have successfully activated sustainable and Islamic finance tools, including the regulation of Sukuk issuances and Takaful insurance.
The Chairman highlighted the evolution of Sharia supervisory sub-committees within FRA-regulated institutions. He noted the maturing dynamics and workflows between these sub-committees and FRA’s Central Sharia Oversight Committee.
Dr. Farid underscored that achieving desired outcomes and meeting Sustainable Development Goals (SDGs) fundamentally depends on the will and diligent effort.
He emphasized that balancing oversight with empowerment is critical. He noted that any financial regulator’s primary objectives are to ensure market stability and protect all participants – whether they are capital market investors, insurance policyholders or consumers of non-banking financial services (NBFS).
He continued by stating that market stability, coupled with advanced regulatory frameworks, is a prerequisite for driving development, expanding market size and leveraging diverse financing tools. He pointed out his efforts to develop the sustainability bond activity in Egypt, which lacked clear regulation prior to his leadership at the Authority.
In response to a query from Dr. Mahmoud Mohieldin regarding the latest developments in the NBFS sector, FRA Chairman highlighted the decisive role of new legislative and regulatory frameworks in activating a wide array of financing instruments.
He noted the significant progress in sustainability bonds, highlighting Egypt’s first sustainability bond issuance in 2024, valued at $100 million. This was followed by the issuance of sustainability-linked securitization bonds worth $499 million in February 2024.
He added that further securitization bonds worth EGP 11.5 billion were issued, alongside the Egyptian market’s inaugural sustainability Sukuk issuance, valued at EGP 11 billion in May 2024.
Dr. Farid asserted that the lack of clear definitions had been a major hurdle for years. The development of robust regulatory rules has enabled projects that were previously excluded from traditional financing to access capital, thereby supporting the real economy and creating jobs.
He revealed that the number of real estate funds in Egypt had stagnated at just two from 2020 until 2025. However, recent regulatory amendments sparked a surge, with approximately 12 funds applying for licenses within just three months, supported by eight digital crowdfunding platforms dedicated to these funds.
He also pointed to the growth of Islamic Sukuk issuances following executive amendments to the Capital Market Law that standardized Sukuk definitions. These changes led to a significant increase in total issuances, reaching EGP 33.5 billion.
Furthermore, he noted that FinTech and crowdfunding have expanded the investor base, empowering new segments of society to participate in investment opportunities, particularly within the real estate and development sectors.
FRA has also enabled electronic “Know Your Customer” (E-KYC) procedures. To date, approximately 400,000 digital verification transactions have been completed.
Dr. Farid stressed the necessity of offering Islamic financing tools through digital platforms to align with the preferences and behaviors of younger generations, specifically Generation Z and Generation Alpha.
He concluded by emphasizing that the role of financial regulation extends beyond merely encouraging innovation; its core purpose is to achieve financial stability and protect investor rights. This foundation ensures sustainable market growth, bolsters confidence in new financing tools and transforms them into a genuine engine for development finance.