الهيئة العامة للرقابة المالية

• Abdelaziz Konsowa:

 “We empower students with the life skills essential for sustainable development and the realization of Egypt’s Vision 2030.”

• Islam Azzam:

“Expanding cooperation through awareness, simulations, and investment training, while hosting pioneering ideas in financial technology.”

Dr. Abdelaziz Konsowa, Minister of Higher Education and Scientific Research, met with Dr. Islam Azzam, FRA Chairman to discuss mechanisms for enhancing financial awareness and literacy among students across all universities and institutes. The meeting aimed to encourage student engagement in non-banking financial activities – particularly Capital Market – to prepare a generation of professionals capable of understanding modern financing tools and navigating the dynamics of financial markets. The session was held at the Private Education Building in New Cairo.

The session was attended by Dr. Mostafa Refaat, Secretary-General of the Supreme Council of Universities; Dr. Maher Mesbah, Secretary General of the Supreme Council of Private and National Universities; and Dr. Ahmed El-Geyoushi, Secretary-General of the Supreme Council for Technological Education and Acting Head of the Education Sector. Representing the Financial Regulatory Authority (FRA) were Assistant Chairman Dr. Mohamed Abdelaziz and Financial Literacy Strategies & Policies Expert Ms. Dina Kamal.

Both sides discussed proposed frameworks for awareness events and training programs, as well as opportunities to integrate financial literacy concepts into the educational curriculum. These efforts are designed to enhance student competencies and prepare them for the labor market, enabling them to contribute effectively to financial inclusion and national economic development.

Dr. Konsowa reaffirmed the Ministry’s dedication to foster a financial literacy among students. By introducing undergraduates to Stock Market dynamics, investment principles, and the strategic importance of saving, the Ministry seeks to shift the youth mindset from a culture of consumption toward one of productive investment.

Additionally, the Minister highlighted the importance of collaboration between the Ministry and the FRA to launch new joint initiatives aimed at deepening financial literacy and incentivizing student entrepreneurship. He noted that these efforts are designed to equip students with the essential life skills necessary that support sustainable development goals and the realization of Egypt’s Vision 2030.

The Minister noted the diversity of Egypt’s higher education ecosystem, which encompasses public, private, national, and technological universities, as well as branches of foreign universities and various institutes. He emphasized that this diversity fosters a competitive environment that elevates the educational standard and provides a robust platform for intensive collaboration with FRA to implement training courses, seminars, and specialized workshops.

On the other hand, Dr. Islam Azzam stated that FRA is currently prioritizing the expansion of financial awareness and literacy initiatives, in parallel efforts to increase the number of newly registered investors in the securities market, particularly among the youth. Statistics reveal that the 18–30 age group accounted for more than 55% of all new investors on the Egyptian Exchange (EGX) in 2024. Additionally, youth participation in the newly launched gold investment funds reached approximately 80%.

He added that the Authority seeks to bridge the gap between theoretical concepts and practical applications for students of various ages across non-banking financial sectors, including insurance, various forms of financing, and factoring. Furthermore, FRA is prepared to launch innovative tools that encourage students to trade in the Capital Market, starting with “money-free” direct investment simulations. This approach also encourages indirect investment through professionally managed funds designed to generate financial returns for students.

 FRA Chairman also emphasized a parallel track for education and qualification through educational videos, specialized courses, and lectures. He highlighted the importance of building sustainable cooperation with specialized colleges to benefit from student ideas in entrepreneurship and fintech. High-potential ideas could be hosted in FRA Sandbox to refine digital transformation projects, as the Authority seeks to solidify Egypt’s position as a regional hub for financial technology.

For his part, Dr. Mohamed Abdelaziz delivered a presentation highlighting how university students can benefit from the “I Invest” platform and initiative. This initiative is designed to enhance understanding of non-banking financial services and solutions while simplifying their use. He noted that studies have proven that 30% to 40% of wealth disparity between individuals is attributable to varying levels of financial literacy. Furthermore, he emphasized the critical role this literacy plays in the success of financial inclusion policies and the development of the national economy from an investment perspective.

He also stressed the importance of expanding these events across different governorates to provide a rich and engaging educational experience. This outreach includes highlighting various success stories of young people within the non-banking financial.