Within the framework of FRA’s awareness role and the dissemination of investment culture, the Financial Services Institute (FSI) is organizing a specialized workshop for State Council judges entitled: Legal Framework and Criminal Responsibility of Non-Banking Financial Activities, in cooperation with USAID’s Strengthening Entrepreneurship and Enterprise Development (SEED) project for the purpose of introducing FRA’s regulatory role and non-banking financial activities under FRA’s supervision.
The workshop was inaugurated by the Chief Justice of the Council of State judge Ahmed Abo Al-Azm. He asserted that judges of the Council are keen to exchange experiences, be updated with various economic legislations and discuss the technical considerations of each activity. Also, he welcomed the specialized programs organized by the Financial Services Institute for judges.
In the opening session Dr. Mohammed Omran, FRA’s Chairman emphasized that he appreciates the Egyptian Council of State and its judges who are keen to exchange experiences to resolve the economic matters governed by many technical aspects specialized in non-banking financial activities.
During his participation in the event, Counselor / Reda Abdel Moaty- Vice President of the Egyptian State Council and FRA’s Deputy Chairman stressed that activating the regulatory tools -granted to FRA by the laws and its legislative amendments- is the safety valve to achieve compliance in all units engaged in non-banking financial activities.
The two-day specialized program will focus on microfinance activity and results of the activity all over the last three years after the promulgation of the law, as well as developments in bond and securitization activities due to their strategic importance in managing public debt, financing government debt needs and providing various tools to manage government debt. In addition, the program will focus on mortgage finance system in Egypt by clarifying the new financing forms and tools granted by Mortgage Finance Law to protect investors.