The Financial Supervision Department stresses the importance of cooperation to spread awareness of financial culture among the public
The Assistant Chairman of the Financial Regulatory Authority, Dr. Mohamed Abdel Aziz, stressed the importance of strengthening cooperation with companies operating in the non-banking financial field to spread awareness of financial culture among the public and customers.
This came from a meeting between the Assistant Chairman of the Authority and representatives 60 non-banking financial institutions in the fields of securities, insurance and non-banking finance and representatives of 6 professional associations in the non-banking financial sector; To discuss mechanisms to achieve greater integration to enhance financial literacy efforts and improve levels of financial awareness and knowledge among society, thus contributing to enhancing the developmental and social impact of non-banking financial services.
Abdulaziz reviewed – according to In the Authority’s statement today, Tuesday – the strategy for spreading awareness of financial culture, the Authority’s efforts in this field, and future plans, which include developing platforms and websites specifically prepared for this matter, and launching a simulation model of the Authority in coordination with Egyptian universities.
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He said that the goal is to make all information related to non-banking financial activities available to all sectors, whether dealers, the general public, or companies operating in the non-banking financial sector.
He explained the importance of Combined efforts of all parties involved in the non-banking financial sector; To spread awareness of financial culture, and familiarize all segments of society with non-banking financial instruments and how to benefit from them; To raise the rates of financial, insurance and investment inclusion, which benefits society as a whole, as well as companies working in the field as a result of the increase in business volume.
He continued that the authority is working to facilitate access and obtain products from By benefiting from digital transformation strategies and plans within the non-banking financial sector, in addition to the Authority’s work to enhance the concept of financial inclusion and work to develop the non-banking financial market through partnership and cooperation between the Authority and all companies working in this field.
He noted that the Financial Supervisory Authority’s strategy regarding spreading awareness of financial culture is concerned with three basic axes, which are spreading awareness among the general segments of society, and customers and beneficiaries of non-banking financial services by informing them of their rights and how to file a complaint in the event of any A problem or procedures that violate the decisions and rules issued by the Authority, as well as companies operating in the field; To raise the degree of integration between non-banking financial activities and to ensure that each activity benefits from the services provided by other activities, which are appropriate to the nature of the work of each activity.
In turn, company officials expressed their Their appreciation and welcome of the efforts of the Financial Supervisory Authority to enhance levels of financial, insurance and investment inclusion by opening continuous channels of communication and cooperation with the aim of spreading awareness and non-banking financial culture, in addition to the Authority’s role in supervising and monitoring the market and protecting the rights of customers.
They stressed the importance of completing efforts to enhance levels of cooperation and the participation of representatives of non-banking financial institutions in the various activities organized by the Authority. With the aim of spreading awareness of financial culture, including participation in the Cairo International Book Fair, and financial services conferences in the governorates (capacity building to enhance development), the first conference of which was held in Damietta Governorate, and training university students to qualify them to enter the labor market and raise their level of knowledge in financial services.
