الهيئة العامة للرقابة المالية

FRA Hosts MSA University Students as Part of Youth Financial Literacy Initiatives – Wednesday 20 May 2026

Dr. Islam Azzam, FRA Chairman:

• Expanding cooperation with universities and higher education institutes to link academic learning with practical application within non-banking financial sector.

Financial Regulatory Authority (FRA) chaired by Dr. Islam Azzam hosted a student delegation from October University for Modern Sciences and Arts (MSA). This visit falls under the Authority’s ongoing efforts to promote financial literacy and awareness among youth and university students, enhancing their understanding of the Non-Banking Financial Sector (NBFS) and its vital role in supporting the national economy and achieving financial inclusion.

Dr. Islam Azzam stated that FRA attaches great importance to financial literacy and awareness, viewing it as a core pillar for building a generation better equipped to make sound investment decisions.

He added that the Authority is actively expanding its cooperation with various universities and institutes to bridge the gap between academic studies and practical application. This cooperation aims to introduce young people to employment, investment, and innovation opportunities, particularly given the positive indicators showing a rising engagement of youth in various investment vehicles, most notably mutual funds.

For his part, Dr. Mohamed Abdel Aziz, Assistant to Chairman, emphasized the Authority’s commitment to provide students with an integrated learning experience that combines theoretical and practical aspects. He noted that FRA is working to scale up youth-targeted events, field visits and workshops across various governorates.

The delegation included first, second and third-year students majoring in Marketing, Business Administration, Economics, and Finance, under the supervision of Dr. Amal Soleiman, Professor of Economics at MSA University.

During the visit, students attended several introductory lectures that outlined the structure of Egypt’s financial sector and highlighted the differences between banking and non-banking systems. The sessions also covered FRA’s constitutionally mandated role, alongside its regulatory and supervisory responsibilities over non-banking markets and activities, mainly insurance, capital market and various forms of non-banking finance.

The visit witnessed strong engagement from the students who expressed a particular interest in learning about FRA’s Regulatory Sandbox. They explored its mandate to support innovation and entrepreneurship by providing a stimulating regulatory environment to test modern digital financial solutions, ultimately driving FinTech adoption and reinforcing Egypt’s position as a regional hub in the field.

FRA Chairman Leads Non-Banking Financial Awareness Initiative at Cairo National University – Monday 18 May 2026

Dr. Islam Azzam, FRA Chairman:

• Empowering the youth is a strategic investment for future, driving market expansion and fostering innovation.
• Our goal is to deepen partnerships with educational institutions, effectively linking theory with real-world practice.

Dr. Islam Azzam, FRA Chairman visited Cairo National University as part of the Authority’s ongoing efforts to raise financial awareness and literacy among youth and university students. This initiative follows a recent visit by Cairo University academic delegation, led by President Dr. Mohamed Samy Abdel Sadek to FRA headquarters to explore its activities and enrich their academic studies.

During an extensive meeting with students, FRA Chairman provided a clear, comprehensive overview of the Authority’s regulatory mandates. He highlighted FRA’s oversight of the capital market, the insurance sector and diverse non-banking financial services – including consumer and mortgage finance, leasing, factoring and MSME Finance.

Dr. Islam Azzam emphasized FRA’s firm belief that enhancing financial literacy among youth is a strategic investment in the future of the non-banking financial sector. This initiative, he noted, drives market expansion, fosters innovation and equips the next generation to make sound financial and investment decisions amid rapid technological advancements.

Reviewing the latest developments in Egypt’s non-banking financial sector, Dr. Azzam shed light on derivatives and benefits of introducing them to the Stock Exchange. He highlighted subsequent milestones, such as the launch of futures market, activation of short-selling and market maker mechanisms. He expects these updates to attract a broader segment of young investors to the stock market.

FRA Chairman also discussed the growing interest among youth in investing in precious metals funds (gold and silver) which recorded the highest returns among investment funds in the first quarter of this year, exceeding 20% quarterly. He took the opportunity to clarify FRA’s regulatory role over these funds and other vital sectors impacting millions of Egyptians, such as non-banking finance and insurance.

In conclusion, Dr. Azzam added that the rapid evolution of tools, services and products within the non-banking financial sector demands continuous awareness and training initiatives. This is particularly crucial given the state’s strategic direction toward supporting financial inclusion, digital transformation, and empowering youth to leverage the opportunities offered by regulated financial markets.

Following Chairman’s remarks, Dr. Mohamed Abdel Aziz, Assistant to Chairman delivered a lecture detailing the Authority’s diverse activities. He highlighted FRA’s pivotal role in regulating non-banking financial markets, enhancing market stability, efficiency and transparency which ultimately safeguards participants’ rights and boosts investor confidence. Dr. Abdel Aziz reaffirmed the Authority’s commitment to direct engagement with students to cultivate sound financial literacy among new generations, equipping them to understand market dynamics and operations.

Dr. Abdel Aziz also spotlighted the “I-Invest” platform and initiative launched by FRA. Designed to simplify and promote non-banking financial services and solutions, the platform offers an immersive and engaging educational experience. It highlights success stories of young investors while introducing the regulatory and supervisory frameworks governing all activities under FRA’s oversight.

The event concluded with honoring several standout students who demonstrated exceptional excellence during the joint awareness program. Following the ceremony, Dr. Mohamed Mohsen El-Attar, Vice President of the University, accompanied Dr. Islam Azzam on an extensive tour of the university’s campus in El Sheikh Zayed City. Dr. Azzam praised the university’s educational facilities and advanced infrastructure, noting that it provides a cutting-edge learning environment tailored to develop student skills and prepare them for the competitive labor market.

FRA Hosts Workshop to Strengthen Administrative Capabilities of Private Insurance Funds – Saturday 16 May 2026

• Broad engagement from funds’ representatives on modern economic resilience and conflict-of-interest safeguards.
• Islam Azzam – FRA Chairman: Enhanced governance and transparency drive efficiency and maximize returns.

Financial Regulatory Authority (FRA) chaired by Dr. Islam Azzam, in collaboration with the World Bank, hosted a high-level workshop titled “Capacity Building for Private Insurance Fund Boards.” The event witnessed extensive participation from board members and representatives of various private insurance funds.

This workshop aligns with FRA’s strategic commitment to bolster governance efficiency and elevate professional standards of fund managers in parallel with digital transformation and major updates introduced by the Unified Insurance Law (No. 155 of 2024) to disclosure systems and regulatory oversight.

Mark Davis, a World Bank Senior Financial Sector Specialist and global pension governance expert, facilitated the sessions. The workshop attracted a broad audience of industry leaders, providing a platform for dynamic discussion , sharing practical insights on refining management frameworks and maximizing member returns within a volatile economic climate.

The agenda highlighted the core components of private insurance fund governance, emphasizing global management standards and the importance of monitoring and adapting to economic volatility to maximize member benefits. Key topics included board operational controls, conflict-of-interest prevention and implementation of robust risk management and compliance frameworks designed to bolster the financial and administrative stability of each fund.

Dr. Islam Azzam emphasized the Authority’s commitment to support training and capacity-building programs for professionals within the non-banking financial sector. He highlighted the vital role of private insurance funds in providing essential insurance and social benefits, noting that the financial and administrative stability of these funds directly impacts the long-term security of their members.

Dr. Azzam further noted that embedding governance and transparency within these funds bolsters management efficiency and streamlines decision-making. He emphasized that these efforts balance stakeholder interests and safeguard their rights, aligning with the Unified Insurance Law and recent FRA mandates designed to modernize investment oversight, ensure solvency, and maximize returns.

Currently, Egypt’s private insurance fund sector comprises over 660 active funds serving nearly 4 million members. These funds provide critical savings, insurance, and supplementary pension benefits, playing a pivotal role in supporting state efforts to expand social safety nets and enhance the financial stability of Egyptian families.