الهيئة العامة للرقابة المالية

As part of the Financial Regulatory Authority’s (FRA) efforts to spread financial awareness and literacy among youth and introduce them to non-banking financial activities, the Authority participated in the second BRICS+ Youth Clubs’ Camp. The camp, hosted by the Ministry of Youth and Sports at Ismailia Youth Center, included the participation of 45 young people from various governorates, including Beni Suef, North Sinai, Menoufia, Sharqia, Alexandria and Suez.

BRICS is an international organization of ten countries that aims to strengthen economic cooperation among its members. The importance of the organization lies in the fact that its member states represent over 40% of the world’s population, in addition to its growing role in international trade and financing development projects. Egypt officially joined BRICS in 2024, which enhances its international standing and opens up wide opportunities for economic and financial cooperation.

The Ministry of Youth and Sports has launched BRICS+ Youth Clubs model across Egyptian governorates. The initiative aims to raise the awareness of young Egyptians regarding international issues and the global economy, enhance cultural and intellectual exchange, develop new leaders who can tackle global challenges and connect them with Egypt’s vision for foreign policy and sustainable development.

In a detailed discussion as part of  BRICS+ Youth Clubs’ activities, FRA representatives led a session titled “Financial Institutions of the BRICS Countries,” where they elaborated on the Authority’s regulatory and supervisory functions across a range of non-banking financial activities, encompassing the capital market, insurance, real estate finance, MSMEs financing, financial leasing, consumer finance and factoring.

The discussion further delved into the purpose and role of financial institutions within the BRICS and the importance of financial cooperation among member states. It highlighted both the challenges and opportunities such collaboration presents for emerging economies, with a special focus on Egypt’s strategic vision. Key leaders from both the Ministry of Youth and Sports and FRA attended the event.

FRA’s participation is a strategic effort to enhance financial literacy among youth. By empowering them with a deeper understanding of non-banking financial activities, the initiative directly supports their ability to make sound financial decisions and promotes their integration into the formal economy, aligning with Egypt’s sustainable development strategy.