الهيئة العامة للرقابة المالية

Dr. Islam Azzam,  FRA Chairman:

• Our priority is building partnerships and initiatives that address real societal needs—especially for those most vulnerable.
• We must leverage non-banking financial tools to deliver tangible social impact and unlock the sector’s full capabilities.

Dr. Islam Azzam, FRA Chairman issued a decree forming a dedicated working group to embed social responsibility principles into non-banking financial activities. Chaired by Dr. Tarek Seif, FRA Vice Chairman, the initiative aims to institutionalize social responsibility and sustainability practices across the non-banking financial sector (NBFS) and amplify the social impact of services offered by regulated entities.

 The working group is primarily tasked with formulating FRA’s social responsibility strategy in line with national priorities and Sustainable Development Goals (SDGs), while launching initiatives to expand access to non-banking financial services for underprivileged groups and enhance financial literacy as a core pillar of financial inclusion.

Dr. Islam Azzam emphasized that establishing this working group reflects FRA’s strategic shift toward transitioning social responsibility from isolated initiatives into an integrated, sector-wide institutional framework. This approach ensures sustainable, measurable outcomes while leveraging the sector’s resources to advance national development efforts.

He noted that social responsibility serves as a vital catalyst for financial inclusion, sustainability and social development, stressing the need for initiatives tailored to community needs. Furthermore, he highlighted the importance of fostering collaboration among government bodies, financial institutions, industry associations and civil society, alongside developing regulatory frameworks that incentivize non-banking financial institutions (NBFIs) to broaden their social responsibility initiatives and sustainability practices.

The working group will be vice-chaired by Ms. Rasha Koleib, with FRA members including Ms. Abeer Hamdy, Ms. Dalia Mounir, Mr. Bedeir El-Adawy, Ms. Yasmine Hassan Mostafa, Ms. Amal Salah, Ms. Anne Albert, Ms. Alyaa Sadek, Ms. Heba Eissa, Mr. Saher Ahmed, Ms. Aya Ali, Ms. Doaa Belal, and Ms. Mervat Ahmed. The panel also features Ms. Rania Attia and Mr. Mahmoud Nassim from the Financial Services Institute (FSI), a representative from the National Alliance for Civil Development Work, and two independent experts appointed by the Chair.

 Dr. Mohamed Abdel Aziz, Assistant to Chairman and Vice Chairman of FSI, alongside Dr. Maha Marwan, Senior Advisor to FRA Chairman, will serve as advisors to the group.

The working group’s mandate encompasses executing financial literacy and awareness programs, alongside field initiatives targeting key socio-economic institutions and groups. These efforts aim to broaden understanding of non-banking financial services and facilitate access to them. Additionally, the group will pursue strategic partnerships and protocols with national entities focused on sustainable development and social responsibility to implement joint, measurable-impact initiatives.

The group will also launch collaborative initiatives with industry associations and non-banking financial institutions (NBFIs) to promote social responsibility activities, transforming them into embedded, sector-wide sustainable practices rather than isolated efforts.

To foster knowledge exchange and best practices, the working group will organize an annual Social Responsibility and Sustainability Conference for the non-banking financial sector. The event will showcase global trends and highlight standout initiatives by FRA-regulated entities, encouraging institutions to adopt high-impact practices.

Furthermore, the working group is tasked with refining legal and regulatory frameworks to incentivize social responsibility across NBFIs. This involves identifying legislative gaps, proposing targeted solutions and evaluating the establishment of charitable investment funds as sustainable financing mechanisms for community development.