As part of the activities of the "Capacity Building for Promoting Development" conference organized by the Financial Regulatory Authority (FRA) in Alexandria under the patronage of H.E. the Prime Minister, Dr. Islam Azzam, Chairman of the Authority, delivered an awareness lecture during an open meeting with faculty members and students at Alexandria University, in the presence of Dr. Ahmed Adel Abdel Hakim, President of the University.
The event was attended by Dr. Tarek Seif, Vice Chairman of the Authority; Dr. Mohamed Abdel Aziz, Mr. Mahmoud Jibril, and Dr. Rehab Taha, Assistants to the FRA Chairman; Counselor Reda Abdel Moaty, Senior Advisor to the Authority; alongside a large gathering of Alexandria University leaders, faculty members, and students.
At the beginning of the meeting, Dr. Ahmed Adel Abdel Hakim, President of the University, delivered a speech emphasizing the university's pride in this collaboration and the necessity of building upon it to consolidate financial literacy among students, increase job opportunities, and boost innovation rates, in line with the Egyptian state's orientation toward financial inclusion.
The University President highlighted the importance of awareness meetings that connect academic knowledge with practical developments in financial markets, enabling students to explore the opportunities offered by the non-banking financial sector in the fields of investment, finance, and insurance.
During the lecture, Dr. Islam Azzam provided a simplified yet detailed explanation of the types of non-banking financial activities, the regulatory and supervisory role of the Authority pursuant to the Constitution, and how to benefit from the services and products offered in the capital market, insurance, and non-banking finance, particularly for youth and women. He also reviewed the pathways supported by the Authority to foster innovation and the use of financial technology (FinTech) to keep pace with market developments and growing needs.
Furthermore, he reviewed the regulatory developments and novel mechanisms introduced in the financial markets, as well as their role in supporting the national economy and opening new horizons for youth to participate in economic activity, pointing to several prominent developments such as investment funds and carbon markets.
The FRA Chairman discussed the Authority's role in striking a balance between market development, enhancing market efficiency, and protecting the rights of market participants. He addressed the operational mechanisms of companies and entities operating in non-banking financial activities, and the most notable developments taking place in the markets, including efforts to develop insurance and financing services to meet clients' needs and expand the scope of utilization of non-banking financial services.
The session also addressed key regulatory decisions recently issued by the Authority, which aim to elevate the quality of financial products and services, enhance transparency and governance, develop risk management mechanisms, and ensure that market participants obtain the necessary information to make informed financial and investment decisions, alongside keeping pace with technological advancements and market requirements.
Dr. Islam Azzam stressed the importance of combining efforts among the FRA, federations, universities, and academies to disseminate financial literacy among youth and the young generation. He emphasized introducing them to the opportunities offered by non-banking financial activities, thereby helping them understand the mechanisms of saving, investment, finance, and insurance, strengthening their ability to make sound financial decisions, and supporting their contribution to the national economy with further ideas, innovations, and entrepreneurial projects.
The organization of this meeting falls within the framework of the Financial Regulatory Authority's efforts to raise financial awareness among various segments of society and strengthen cooperation with educational institutions and universities. This contributes to preparing a generation more aware of financial markets and capable of capitalizing on investment opportunities, in line with "Egypt Vision 2030" and the state's directives toward promoting financial inclusion.
