Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), and Mohamed Lotfy, President of the British University in Egypt (BUE), signed a joint cooperation protocol to spread the culture and awareness of non-banking financial activities, at the Authority’s headquarters in the Smart Village.
The protocol was signed in the presence of Ahmed El Sheikh, Vice President of the Authority; Mohamed Abdel Aziz, Assistant to the President of the Authority; Muhammad Ayad, Director of the Media Center at the Authority; Waduda Badran, Dean of the Faculty of Economics, Political Science and Business Administration at BUE; Rasha Mabrouk, CEO of Media and Marketing; Fardous Rizk, Vice President for Student Affairs; and Muhammad Rashwan, Head of the Department of Business Administration Faculty of Economics, Political Science and Business Administration.
FRA Chairperson Mohamed Farid said that the cooperation protocol with BUE aims to exchange academic and practical experiences and knowledge in various disciplines and non-banking financial activities. The university plays an inherent, important role in spreading culture among new generations, to diversify and increase the channels and mechanisms of joint cooperation with all active parties, achieving the authority’s vision of financial, insurance and investment inclusion.
BUE, through this protocol, aims to motivate young people to explore entrepreneurship, generate job opportunities, cooperating in implementing the awareness plan with the authority’s ambassadors who have obtained a certificate of financial awareness.
Farid stressed the importance of creating a connection between the regulatory controls issued by the Authority and the scientific and training content of the university.
It’s also crucial to prepare qualified cadres in a professional way, as well as develop advanced academic and training programs that include the regulatory controls issued by the Authority, according to Farid.
He explained that the protocol supports FRA’s vision and its goals, especially the goal of financial inclusion as a national priority that allows easy and direct access for all segments of society to obtain financial products and services.
FRA is open to all suggestions and ideas submitted by BUE students to develop and bolster financial solutions using technological mechanisms. Moreover, FRA will cooperate with BUE to look into further developing specialised curricula that take the demands of the labour market into consideration.
For his part, Mohamed Lotfy, President of BUE, thanked and appreciated FRA’s leaders for their continuous support for graduating qualified cadres that serve the community and enhance financial culture in non-banking financial activities.
He indicated that the cooperation protocol is a strategic partnership with FRA to achieve the vision of the two parties in supporting the national economy and the society with the requirements of the labour market in all financial services of all kinds. Additionally, BUE seeks to achieve more levels of awareness and financial culture in line with Egypt’s vision 2030, Lotfy said.
Lotfy stressed the continuous and strategic partnership between BUE and FRA aims to develop it further in order to achieve the university’s approach to serious learning through specialized practical experiences in different markets.
He also pointed out that BUE will be cooperating with FRA to improve educational curricula to bridge the gap between the requirements of the local labour market and the skills students have. BUE will be developing specialized scientific programs to bring about an integration between initiatives, advanced ideas and regulatory controls, in order to reach the best experiences and practical models possible in financial practices.
The President of BUE is organizing competitions and preparing awards for students, as well as group and individual projects, to serve the idea of implementing the protocol on a larger scale. It will work to have the concept spread amongst the largest number possible of possible students. BUE will also be proposing and identifying ways to integrate student volunteer initiatives and activities into the efforts and the framework of the protocol.