FRA Enhances Women”s Financial Inclusion via Technology and Digital Finance in Alexandria
The National Council for Women (NCW) branch in Alexandria hosted a technical workshop organized by the Financial Regulatory Authority (FRA). The session highlighted the crucial role of Fintech applications in facilitating women’s access to non-banking financial services—including insurance, investment, and digital finance—without geographical barriers.
The workshop was held as part of the official program for the "Capacity Building for Sustainable Development – Know & Benefit" conference, organized under the auspices of Prime Minister Dr. Moustafa Madbouly. The event was inaugurated by Dr. Islam Azzam, Chairman of the FRA, and Engineer Ayman Attia, Governor of Alexandria, and hosted by Dr. Magda El-Shazly, Head of the NCW branch in Alexandria. The initiative aims to equip women with operational and legal knowledge to protect their savings and scale their businesses.
Safe Investment Channels and Consumer Protection Mechanisms
Yasmine Hassan, Deputy Head of the Central Administration for Technical Offices at FRA, outlined the institutional structure of the non-banking financial sector, including insurance companies, private insurance funds, and risk pools. She emphasized the provision of secure investment avenues directly regulated by the FRA, steering women away from unlicensed entities. Additionally, she detailed the legal procedures for filing complaints and highlighted the mandatory transparency and disclosure controls binding companies to prevent fraud or misleading practices.
Business Financing and Support for Female Entrepreneurs
Dr. Amal Salah, Deputy Head of the Central Administration for SME Financing at FRA, presented an analysis of the microfinance sector, identifying it as a major driver for the economic empowerment of female breadwinners and women entrepreneurs. She explained responsible lending principles and women’s rights to transparent payment schedules and clear financing costs, warning against over-indebtedness. She affirmed that the FRA conducts both field and off-site supervision to ensure fair service pricing and prevent coercive collection practices.
Investment Funds: Regulated Tools for Growing Women’s Savings
Sally George, Assistant to the FRA Chairman for Investment Funds Affairs, discussed leveraging investment funds as a safe vehicle that allows women to enter the capital market with relatively small amounts by purchasing fund certificates (spanning money market, equity, and fixed-income funds). She noted that the prospectus serves as the binding legal document defining the investment policy, fee structure, and risk levels. She stressed that the FRA performs daily monitoring to value fund assets and approve financial statements to ensure market stability.
Strategic Vision for Boosting Financial Literacy
These efforts align with the FRA's strategic vision to prioritize financial awareness and expand capacity-building programs. The goal is to sustainably integrate women into the formal financial ecosystem, enhancing their active participation in driving national economic growth.