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FRA opens its doors for school and university students to raise awareness of non-traditional financial tools – Wednesday 4/3/2020

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• Dr. Omran: For the first time, FRA hosts school students to raise awareness of financial culture at its headquarters in the Smart Village

Last year during Science Day Celebration, President of the Republic launched an initiative under the slogan “Towards building an Egyptian society that learns, thinks and innovates”. The said initiative expressed belief in the importance of knowledge, and that paying attention to the value of knowledge will enhance sustainable economic growth and improve living standards.

Therefore, the Authority decided to develop programs related to disseminating financial knowledge and culture within the context of implementing FRA’s comprehensive strategy for non-banking financial activities for its second year. In this regard, FRA launched financial awareness and education program designed to host a series of visits to school students in different stages of pre-university education at its headquarters. These visit will provide the opportunity for young people to know more about Capital Market in Egypt and other numerous non-banking financial activities e.g. real estate financing , financial leasing  and micro finance.

Dr. Omran says that for the first time, the Authority becomes a destination for school students, adding that FRA is placed on the agenda of external school activities for students in various education stages to seek and enhance financial knowledge. In this respect, FRA serves as a model in performance and transformation to spread knowledge through direct communication.

During the meeting, FRA’s Chairman expresses that the Authority welcomes the respond of different schools that organize visits to FRA’s headquarters to be acquainted with its role in regulating non-banking financial activities. Such visits will raise awareness of that generation and enables the emergence of pioneers and investors in the future, and even customers who have the confidence and satisfaction in entering into non-banking financial markets in presence of an effective regulator who has the ability to control markets’ performance.

During the meeting, an introductory meeting was held on sustainable development as a concept and shedding light on its principles and goals and the measures that are applicable to the definition of sustainability at FRA’s institutional level. That is besides converting FRA’s headquarters to a sustainable building through implementing a plan to reduce energy consumption and using feed water system inside FRA’s headquarters where it saves approximately 50% of the volume of water consumption. In addition to applying guidance of “Improving Energy Efficiency Project of Lighting and Appliances” set by experts of Ministry of Electricity and UN initiative to promote energy efficiency in lighting and appliances inside FRA’s headquarter.

Investor Awareness Department has introduced non-banking financial instruments under FRA’s supervision and control. In addition, it shed light on FRA’s regulatory role to maintain the safety and stability of non-banking financial markets through several mechanisms provided by Law No. 10 of 2009 to protect the rights of market participants, achieve balance between them and impose measures it deems necessary to curb fraud and manipulation in the market.

At the end of the meeting, FRA’s officials accompanying the students expressed their happiness and appreciation for financial information the students had acquired. They stressed on the seriousness of environmental and social risks that necessitate commitment to sustainable development. The students have pledged to transfer this educational content to their classmates who did not have the opportunity to attend.

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Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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