الهيئة العامة للرقابة المالية

Minister of Higher Education and FRA Chairman Partner to Boost Students Financial Literacy and Non-Banking Opportunities – Monday 27 April 2026

• Abdelaziz Konsowa:

 “We empower students with the life skills essential for sustainable development and the realization of Egypt’s Vision 2030.”

• Islam Azzam:

“Expanding cooperation through awareness, simulations, and investment training, while hosting pioneering ideas in financial technology.”

Dr. Abdelaziz Konsowa, Minister of Higher Education and Scientific Research, met with Dr. Islam Azzam, FRA Chairman to discuss mechanisms for enhancing financial awareness and literacy among students across all universities and institutes. The meeting aimed to encourage student engagement in non-banking financial activities – particularly Capital Market – to prepare a generation of professionals capable of understanding modern financing tools and navigating the dynamics of financial markets. The session was held at the Private Education Building in New Cairo.

The session was attended by Dr. Mostafa Refaat, Secretary-General of the Supreme Council of Universities; Dr. Maher Mesbah, Secretary General of the Supreme Council of Private and National Universities; and Dr. Ahmed El-Geyoushi, Secretary-General of the Supreme Council for Technological Education and Acting Head of the Education Sector. Representing the Financial Regulatory Authority (FRA) were Assistant Chairman Dr. Mohamed Abdelaziz and Financial Literacy Strategies & Policies Expert Ms. Dina Kamal.

Both sides discussed proposed frameworks for awareness events and training programs, as well as opportunities to integrate financial literacy concepts into the educational curriculum. These efforts are designed to enhance student competencies and prepare them for the labor market, enabling them to contribute effectively to financial inclusion and national economic development.

Dr. Konsowa reaffirmed the Ministry’s dedication to foster a financial literacy among students. By introducing undergraduates to Stock Market dynamics, investment principles, and the strategic importance of saving, the Ministry seeks to shift the youth mindset from a culture of consumption toward one of productive investment.

Additionally, the Minister highlighted the importance of collaboration between the Ministry and the FRA to launch new joint initiatives aimed at deepening financial literacy and incentivizing student entrepreneurship. He noted that these efforts are designed to equip students with the essential life skills necessary that support sustainable development goals and the realization of Egypt’s Vision 2030.

The Minister noted the diversity of Egypt’s higher education ecosystem, which encompasses public, private, national, and technological universities, as well as branches of foreign universities and various institutes. He emphasized that this diversity fosters a competitive environment that elevates the educational standard and provides a robust platform for intensive collaboration with FRA to implement training courses, seminars, and specialized workshops.

On the other hand, Dr. Islam Azzam stated that FRA is currently prioritizing the expansion of financial awareness and literacy initiatives, in parallel efforts to increase the number of newly registered investors in the securities market, particularly among the youth. Statistics reveal that the 18–30 age group accounted for more than 55% of all new investors on the Egyptian Exchange (EGX) in 2024. Additionally, youth participation in the newly launched gold investment funds reached approximately 80%.

He added that the Authority seeks to bridge the gap between theoretical concepts and practical applications for students of various ages across non-banking financial sectors, including insurance, various forms of financing, and factoring. Furthermore, FRA is prepared to launch innovative tools that encourage students to trade in the Capital Market, starting with “money-free” direct investment simulations. This approach also encourages indirect investment through professionally managed funds designed to generate financial returns for students.

 FRA Chairman also emphasized a parallel track for education and qualification through educational videos, specialized courses, and lectures. He highlighted the importance of building sustainable cooperation with specialized colleges to benefit from student ideas in entrepreneurship and fintech. High-potential ideas could be hosted in FRA Sandbox to refine digital transformation projects, as the Authority seeks to solidify Egypt’s position as a regional hub for financial technology.

For his part, Dr. Mohamed Abdelaziz delivered a presentation highlighting how university students can benefit from the “I Invest” platform and initiative. This initiative is designed to enhance understanding of non-banking financial services and solutions while simplifying their use. He noted that studies have proven that 30% to 40% of wealth disparity between individuals is attributable to varying levels of financial literacy. Furthermore, he emphasized the critical role this literacy plays in the success of financial inclusion policies and the development of the national economy from an investment perspective.

He also stressed the importance of expanding these events across different governorates to provide a rich and engaging educational experience. This outreach includes highlighting various success stories of young people within the non-banking financial.

Prime Minister Holds a Meeting with FRA and EGX Chairmen – Sunday 26 April 2025

• Madbouly urges the quick finalization of Capital Market laws and EGX listings for state firms.
   

Prime Minister Dr. Mostafa Madbouly met today with Dr. Islam Azzam, Chairman of the Financial Regulatory Authority (FRA), and Mr. Omar Radwan, Chairman of the Egyptian Exchange (EGX). The meeting comes days after the Prime Minister’s decree appointing the new EGX Chairman.

The Prime Minister commenced the meeting by congratulating both Dr. Islam Azzam and Mr. Omar Radwan on assuming their new responsibilities. He wished them success and emphasized the importance of fruitful cooperation to achieve the strategic objectives for developing the Capital Market.

During the meeting, the Prime Minister highlighted the government’s significant commitment to develop the Egyptian Capital Market, enhancing its stability, and protecting participants across various non-banking financial activities. This stems from a firm belief in the vital role these sectors play in supporting the national economy by increasing investment rates and expanding the participation of both local and foreign private sectors.

Dr. Mostafa Madbouly noted the necessity of expanding new financial instruments within the Egyptian capital market. He also stressed the continued coordination between FRA, EGX, and other relevant authorities to support the development of a digital infrastructure that ensures transparency and assists investors of all levels in analyzing markets and making informed investment decisions.

 Additionally, the Prime Minister praised the positive indicators witnessed by the Egyptian Exchange, particularly the increase in daily trading volume to over EGP 12 billion and the rise of the market capitalization to over EGP 3.6 trillion – the highest value in its history.

Dr. Mostafa Madbouly directed the quick finalization of Capital Market laws. He further emphasized the importance of swiftly listing state-owned companies on the EGX as part of the state’s efforts to maximize the return on public assets, reviewing the status of both currently listed companies and those being prepared for listing.

On the other hand, Dr. Islam Azzam, FRA Chairman affirmed that the Authority seeks to develop regulatory policies and controls in line with international best practices across various non-banking financial sectors, foremost among them the Capital Market, insurance, and financing. He added that FRA is working diligently to activate and develop new financial mechanisms and products to enhance financial inclusion and liquidity, thereby positively impacting the national economy.

FRA Convenes Workshop on Carbon Disclosure & Offsetting Mechanisms – Sunday 26 April 2026

Dr. Islam Azzam – FRA Chairman:

• The Authority plays a vital role in empowering companies and investors with the latest non-banking market developments, specifically within the Voluntary Carbon Market.

Under the auspices of FRA, the Regional Center for Sustainable Finance (RCSF) hosted a specialized workshop outlining the implementation of FRA Board Resolution No. 36 of 2026. This landmark resolution mandates that non-banking financial services (NBFS) entities disclose their carbon footprints and execute mandatory offsets via purchasing carbon credits through the regulated Voluntary Carbon Market.

Dr. Islam Azzam, FRA Chairman, stated that these initiatives are part of the Authority’s broader efforts to develop sustainable non-banking financial markets. This strategy supports a “Just Transition” toward a more sustainable, low-carbon economy, which serves as a primary pillar of “Egypt Vision 2030.”

 Additionally, Dr. Azzam reaffirmed FRA’s role in navigating companies through these transitions, with a specific focus on the voluntary carbon market. The session targeted high-cap entities (exceeding EGP 100 million in capital or equity) now subject to mandatory carbon reporting and offsetting requirements.

Due to high demand, the workshop was conducted over two sessions, inaugurated by Dr. Tarek Seif, Executive Director of the Financial Services Institute (FSI). Dr. Seif characterized the resolution as a “qualitative leap” in regulatory oversight, marking a pivotal transition from passive disclosure to active measurement and mandatory offsetting. These strategic measures are poised to enhance the competitiveness of Egyptian NBFS firms, positioning them as premier targets for global sustainability-linked investments.

During the technical session, Nourhan Ashraf, Sustainable Development Specialist at the RCSF, provided a detailed explanation of Article (1) of the resolution. She clarified that obligated companies must prepare detailed annual “Carbon Footprint” reports covering Scope 1 and Scope 2 emissions. These reports must be validated by an FRA-registered verification body. The inaugural report is due by June 30, 2026, with subsequent reports submitted periodically at the close of each fiscal year.

The workshop detailed the resolution’s requirement for companies to offset 20% of their total annual carbon emissions as verified in their reports. This must be achieved by purchasing Carbon Credits from the regulated Voluntary Carbon Market within 90 days of submitting their report to FRA.

Omar El-Nemr, Carbon Market Expert at the Center, presented “FRA Climate Project Registry.” He provided attendees with an overview of registered projects and their specific technical characteristics.

The workshop concluded with an open Q&A session, where experts addressed technical inquiries regarding measurement methodologies and the specific steps for executing purchases within the Voluntary Carbon Market.