Press Releases
Ministry of Education and FRA to Integrate Financial Literacy into School Curricula – Sunday 5 April 2026
- Minister Mohamed Abdellatif: Integrating ‘Financial Literacy’ is a pivotal step toward cultivating a well-informed generation equipped with the economic fundamentals and resource management skills essential for the future.
- Islam Azzam: Promoting financial literacy is a fundamental pillar for bolstering economic stability and fostering a more financially aware and resilient society.
Mr. Mohamed Abdellatif, Minister of Education and Technical Education, held a meeting with Dr. Islam Azzam, FRA Chairman to discuss mechanisms for cooperation to incorporate “Financial Literacy” into school curricula. The curriculum will cover concepts of the stock market, trading, and financial transactions, as part of the state’s strategy to build economic awareness among students and develop their skills in dealing with contemporary financial issues.
Minister Mohamed Abdellatif emphasized that the Ministry prioritizes developing school curricula to align with modern requirements. He noted that incorporating “Financial Literacy” is a significant move toward raising a conscious generation that understands the basics of economics and resource management, enabling them to make sound financial decisions.
The Minister added that this direction reflects the Ministry’s commitment to equipping students with applied life skills that contribute to building a well-rounded personality, which in turn supports sustainable development efforts.
Furthermore, the Minister pointed out the Ministry’s trend toward enhancing financial awareness among students by introducing them to concepts of the stock exchange, securities markets, and the importance of saving and investment. This aims to build economic awareness from early educational stages.
Minister Abdellatif also stressed that this step runs parallel with the integration of modern technology into the educational process—most notably teaching programming and Artificial Intelligence, which was implemented this academic year. This ensures students possess the skills necessary to keep pace with global developments in technology and the digital economy.
For his part, Dr. Islam Azzam welcomed the cooperation with the Ministry of Education, affirming that spreading financial literacy is a fundamental pillar for bolstering economic stability and building a more conscious society. He explained that FRA will provide all necessary technical support to ensure students study financial literacy in accordance with international best practices.
During the meeting, it was agreed to finalize all preparations to reveal the full details of this initiative in the coming period.
The meeting was attended by Dr. Ahmed Daher, Deputy Minister; Dr. Ayman Bahaa, Deputy Minister; Dr. Mohamed Abdel Aziz, Assistant to FRA Chairman; and Ms. Dina Kamal, Financial Literacy Policy Expert.
FRA Chairman Directs ECIP to Expedite Payouts for Kafr Dawood–Sadat Road Accident Victims – Thursday 4 April 2026
Dr. Islam Azzam, FRA Chairman extends his profound condolences and sympathy to the families of the victims and those injured in the Kafr Dawood–Sadat Road accident in Menofia Governorate. Dr. Azzam prays that the Almighty grants the deceased His vast mercy and provides their families with patience and solace, while wishing the injured a swift recovery and a safe return to their homes.
In this context, Dr. Islam directed the Egyptian Compulsory Insurance Pool (ECIP) to promptly take the necessary measures to disburse the due compensation to the families of the victims and the injured of this tragic accident.
FRA Chairman emphasized that the Pool must immediately contact the affected families to expedite payouts. Under the Unified Insurance Law No. 155 of 2024, compensation is set at 100,000 EGP per fatality, while injury payouts are determined by Medical Board disability ratings. Settlements will be finalized promptly upon the verification of accident documentation and the validity of the compulsory insurance policy.
Following FRA Chairman’s directives, the Executive Director of the Egyptian Compulsory Insurance Pool (ECIP) confirmed that representatives are proactively contacting victims’ families to finalize documentation and ensure the swift disbursement of compensation.
FRA Amends Vehicle Depreciation Controls to Balance Insurer and Policyholder Rights – Thursday 2 April 2026
Dr. Islam Azzam – FRA Chairman :
- Amending vehicle depreciation rates to ensure “Fair Indemnity”.
In line with the FRA’s ongoing mandate to protect stakeholder rights and ensure fairness within the motor insurance sector, the Authority has conducted an extensive review of market practices. This follows a comprehensive Regulatory Impact Assessment of the regulations governing non-banking financial activities.
Building on these findings, Dr. Islam Azzam, FRA Chairman, has issued Board Resolution No. 897 of 2026. This resolution updates the regulatory framework for vehicle depreciation rates, aiming to strike a strategic balance between ensuring fair indemnity for policyholders and maintaining overall market stability.
Dr. Islam clarified that the resolution mandates all licensed motor insurance providers and associations to treat the depreciation rates in Article One as a maximum threshold for accident repair estimates. While the resolution establishes these statutory ceilings, it grants insurers the flexibility to stipulate lower depreciation rates within their policies. This competitive framework is designed to prioritize the best interests of policyholders.
Addressing market shifts and rising costs for vehicles and spare parts, the new resolution aims to eliminate friction between insurers and policyholders. It provides a clear framework for handling damaged parts following an accident. Under the new controls, the settlement process is governed by the insurance contract, allowing companies to either collect the damaged parts or apply a contractual deduction if the policyholder chooses to retain them.
The Authority underscores that this Board Resolution is designed to provide mutual benefits for all stakeholders while effectively mitigating potential disputes within the sector.