الهيئة العامة للرقابة المالية

• The training program focused on representatives from Equal Opportunities Units in various government entities, including Micro, Small and Medium Enterprises Development Agency (MSMEDA), Ministries of Awqaf (Endowments), Supply, Environment, Electricity, Tourism, Higher Education, Institute of National Planning and Central Agency for Public Mobilization & Statistics.

• This training program aligns with FRA’s efforts to raise financial literacy , contributing to broader gender equality goals

FRA has successfully completed a training program organized in collaboration with the National Council for Women. The program aimed to enhance the capabilities of equal opportunities unit members in various government entities, contributing to FRA’s broader efforts to promote financial literacy and empowerment.

By empowering individuals to make informed financial decisions, FRA supports the government’s initiatives to increase financial, investment, and insurance inclusion.

With 31 participants, the program has made a significant contribution to empowering individuals and fostering their participation in economic activities.

Equal Opportunities Units within government entities play a vital role in achieving gender equality and empowering women.

These Units work to promote the progress of Egyptian women in all fields, monitor development programs and evaluate their effectiveness in achieving sustainable development goals.

These efforts align with the Egyptian Government’s “Egypt Vision 2030” and related strategies, contributing to the implementation of its action plan.

FRA Senior officials attended the program, led by Deputy Chairman, Mohamed El-Sayyad and Assistant to Chairman, Dr. Mohamed Abdelaziz. The program began with a welcome address to participants, followed by a presentation on the FRA’s role in supporting and developing Egypt’s economy through its regulatory and supervisory role. This collaboration aims to enhance the capacity of various societal groups, particularly women, as they play a central and effective role in society as key partners in the achievement of economic and social development plans.

Financial literacy and education are key pillars of FRA’s strategy 2023-2026 to bolster the non-bank financial sector’s contribution to the economy. Recognizing the pivotal role of women and youth in shaping the country’s future, the Authority has prioritized their financial empowerment.

31 officials and leaders from the Equal Opportunities Units of various government entities, including Ministries of Awqaf (Endowments), Supply, Environment, Electricity, Tourism, Higher Education, Institute of National Planning and Central Agency for Public Mobilization & Statistics attended the workshop which lasted a full workday.

Deputy Chairman, Mohamed El-Sayyad emphasized the importance of collaborating with various government entities to enhance the skills and knowledge of working women. This includes raising their financial literacy and empowering them to make informed financial, investment, and insurance decisions that can improve their quality of life.

During the workshop, lecturers answered numerous questions from trainees. The workshop shed light on the importance of Financial Awareness Trainer (CFAT) certificate offered by FRA.

The program focused on FRA’s ongoing efforts to promote financial literacy related to savings and investment within Egypt’s non-bank financial sector.

The program also covered the broader role of the financial sector, including non-bank institutions, in Egypt’s economy. It introduced various financing activities, such as SME financing, real estate finance and financial leasing and explored key insurance concepts.

Assistant to Chairman, Dr. Mohamed Abdelaziz emphasized that collaboration between FRA and Equal Opportunity Units would empower more women to invest, save, insure and access finance for growth. Spreading financial and economic literacy, he stressed, is vital for creating generations with strong financial literacy.

He added that the Authority’s action plan aims to elevate financial literacy levels and introduce all segments of society, including women, to non-bank financial activities, thereby benefiting the Egyptian economy and its various sectors.

In addition, Dr. Abdelaziz emphasized the Authority’s commitment to promoting financial literacy for societal development. He highlighted efforts to educate individuals and businesses about non-bank financial services, their benefits, and how to access them. This empowers individuals to build wealth and businesses to grow, ultimately contributing to job creation and economic growth.

It is noteworthy that 65% of the Authority’s recent hires are women. The Authority values competence over gender, promoting equal opportunities and women’s empowerment through merit-based work and evaluation practices across all departments.

Also, the Authority mandated that companies operating in non-banking financial activities and those listed on the Egyptian Stock Exchange have at least 25% female representation on their Boards of Directors, or a minimum of two female board members. By the end of 2022, approximately 89.8% of these companies had at least one woman on their board.