Egypt’s Financial Regulatory Authority (FRA) signs a cooperation protocol with the British University in Egypt (BUE) to enhance levels of financial literacy in non-banking financial activities

The protocol aims to graduate qualified youths who will act as ambassadors to spread non-banking financial awareness.

It comes within the framework undertaken by the FRA to spread financial culture for the non-banking financial sector.

Mohamed Farid, the Chairman of the FRA said that the cooperation with the BUE aims to exchange academic and practical experiences and knowledge in various disciplines and non-banking financial activities.

The protocol supports efforts to achieve the goals of the FRA’s vision, especially achieving financial inclusion.

A joint working group will be formed to follow up on the implementation of the protocol and submit any proposals that would accelerate the pace of achieving the required targets

Mohamed Lotfy, the President of the British University said: “We appreciate the leaders of the Financial Regulatory Authority for the continuous support for graduating qualified youths who will serve the community and enhance levels of financial culture in non-banking financial activities.”

We will work with the financial control to improve the educational curricula to increase the levels of linkage with the requirements of the labor market in order to improve the efficiency and quality of the outputs of the educational process at the university in various sectors, Lotfy added.

Meanwhile, Farid stressed the importance of linking the regulatory controls issued by the FRA and the scientific and training content of university students to prepare qualified youths.

Farid added that the FRA is open to receiving all ideas and proposals submitted by British University students to create and develop financial solutions using technological mechanisms and applications, and to support the ideas of emerging companies that rely on financial technology to provide their services. 

The non-banking financial sector, and cooperation with the university will be conducted in researching the development of specialized educational curricula that take into account the requirements of the labor market in the non-banking financial system in the insurance, financing and investment markets and the laws regulating them.