الهيئة العامة للرقابة المالية

In a joint effort to promote financial literacy, FRA and Ministry of Youth and Sports have launched “Y-Champions” competition. The initiative, managed by the Ministry’s Central Department for Youth Empowerment and FRA’s Awareness and Financial Literacy Central Department, will be held on social media through the Authority’s “iInvest” awareness platform.

The competition aims to boost young people’s awareness of non-banking financial topics and equip them to combat financial fraud. Participants will compete for symbolic prizes, which are intended to motivate and reward outstanding individuals.

The competition aligns with the National Strategy for Financial Literacy (2022-2026). This initiative – led by FRA’s Awareness and Financial Literacy Central Department in partnership with the Ministry of Youth and Sports’ Central Department for Youth Empowerment – is designed to extend financial literacy to all segments of society, with a particular focus on youth.

Dr. Ashraf Sobhi, Minister of Youth and Sports, stated that “Y-Champions” competition is a practical embodiment of the political leadership’s directives to enhance youth awareness and financial literacy. He explained that the Ministry is committed to use innovative and appealing methods, such as social media, to engage a broad audience of young people and encourage their active participation in developmental issues.

He further noted that the collaboration with the Authority, through Awareness and Financial Literacy Central Department, exemplifies a successful model of integrated efforts between state institutions. This partnership, forged under an existing protocol, is designed to prepare a new generation equipped with the financial knowledge needed to navigate challenges, mitigate the risks of financial fraud and leverage non-banking finance to support their own ventures.

On the other hand, Dr. Mohamed Farid, FRA Chairman stated that the competition aligns with FRA’s efforts, led by Awareness and Financial Literacy Central Department, to implement the National Strategy for Financial Literacy (2022-2026). The strategy’s core objective is to protect those engaged in non-banking financial activities by elevating public awareness and enhancing financial literacy among citizens.

He added that combating financial fraud requires concerted efforts. He highlighted that the competition, organized in partnership with the Ministry of Youth and Sports, is a part of a signed protocol aimed at bolstering financial literacy among young people. Dr. Farid emphasized that youth serve as the first line of defense in spreading financial literacy and countering misleading practices. Their participation in creating creative awareness content on “iInvest” platform, he noted, is a crucial step in translating financial knowledge into daily behavior that protects society and empowers them to utilize legitimate financing opportunities for their own projects.

Dr. Farid also underscored FRA’s continuous efforts to protect the rights of all stakeholders in non-banking financial markets and activities. He cited the recent announcement of a “negative list” of entities and pages that illegally conduct non-banking financial activities, as well as the publication of a list of all entities and companies officially licensed by FRA. Furthermore, the Authority has created a dedicated email address for citizens to report unlicensed entities that solicit investments, financing or insurance services. These initiatives are a practical implementation of FRA’s strategic pillars, particularly those related to financial, investment and insurance inclusion.

To apply for the competition, please submit your application through the official Iinvest website at: www.iinvest.org.eg

A specialized judging committee will assess submissions. The winners will be announced promptly upon the completion of the evaluation process.