الهيئة العامة للرقابة المالية

• Financial literacy and consumer protection, bolstered by Fintech are keys to expand access to financial services.
• Building strategic alliances with government entities to foster financial literacy and empower individuals to make informed investment decisions.

FRA concluded its inaugural “Certified Financial Awareness Trainer” program, a key initiative aimed at bolstering financial literacy.  Twenty-one teachers specializing in industrial, commercial and hospitality education from Cairo, Giza, and Qalyubia governorates participated in this program, representing a collaboration between FRA and Ministry of Education and Technical Education. The program’s core objective is to equip these educators to serve as   financial literacy ambassadors.

This training program is part of FRA’s broader strategy to promote understanding and utilization of non-banking financial services.  By training representatives from various institutions across diverse sectors, FRA aims to create a network of certified financial trainers who can effectively communicate key concepts and promote financial literacy.

Participants in the “Certified Financial Awareness Trainer” program gained valuable skills and knowledge about the non-banking financial sector under FRA’s supervision, regulation, and control.  The curriculum covered a wide range of topics, including the structure and function of non-banking financial markets and activities, such as the capital market, financing options, and insurance.  Participants also learned about various non-banking financial products and their potential to support business growth, individual and institutional investment and savings goals, and the importance of insurance.  Ultimately, FRA’s goal is to cultivate a new generation capable of making informed and sound investment and financial decisions, empowering them to achieve their financial objectives.  Furthermore, the program seeks to expose participants to potential career paths within the non-banking financial sector, outlining the necessary skills and qualifications for success in these fields.

Mohamed El-Sayyad,  FRA Vice Chairman; Dr. Mohamed Abdel Aziz, Assistant to Chairman; and Dr. Fatima El-Nayal, Director General of Technical Education , Ministry of Education, jointly presented the certificates.

Mohamed El-Sayyad, FRA Vice Chairman emphasized the Authority’s strategic focus on boosting financial and insurance literacy across all segments of society.  He highlighted the diverse range of financial, insurance, and investment solutions offered by non-banking financial services, noting their alignment with the Egyptian government’s broader financial inclusion strategy.  El-Sayyad underscored FRA’s dedication to empower future generations to make informed financial decisions, enabling them to achieve their financial goals, improve their livelihoods and contribute more effectively to the national economy.

On the other hand, Dr. Mohamed Abdel Aziz, Assistant to Chairman, explained that this training program is a key component of the Authority’s ongoing efforts, implemented through strategic partnerships with various government entities.  These collaborations aim to expand access to non-banking financial services and activities.  He pointed out that the certificate ceremony marks the successful implementation of a cooperative agreement between FRA and Ministry of Education and Technical Education.  This agreement focuses on training teaching staff selected by the Central Dep.  for Technical Education Development, with the ultimate aim of disseminating non-banking financial knowledge to teachers and ultimately, their students.

Dr. Abdel Aziz stressed the Authority’s commitment to financial literacy, a key aspect of its strategy to strengthen the non-banking financial sector’s contribution to the national economy. With a dedicated strategic pillar focused on financial, investment, and insurance inclusion, the Authority recognizes the importance of empowering individuals.  He explained that these programs help individuals understand financial matters, plan for their future and avoid financial exploitation.

Furthermore, Dr. Abdel Aziz stated that the Authority is actively collaborating with various state institutions to broaden access to non-banking financial services, particularly for young people. This focus is especially critical given the rapid pace of technological development and the associated risks. Educating consumers on how to manage and mitigate these risks safely is a top priority.