The Egyptian Financial Regulatory Authority has completed its summer training program for university students, which attracted 7,480 applicants this year, more than double the number from last year. The program, launched as part of the authority's strategy to promote financial culture and awareness, provided 441 trainees with educational lectures, followed by qualifying exams taken by 333 trainees. Out of these, 228 trainees were selected for practical training within the authority's various sectors.
The program's primary goal is to introduce young people to non-banking financial activities, enhance their skills, and prepare them for the job market by providing hands-on experience within the authority's different sectors. The training was conducted over three sessions, each lasting a month. Dr. Islam Azzam, head of the authority, emphasized the importance of continuing awareness efforts and disseminating correct concepts and reliable information to enable young people to understand financial tools and make more informed financial and investment decisions.
Dr. Azzam highlighted the authority's focus on developing financial education programs targeting young people, combining theoretical knowledge with practical applications through the "I Invest" platform and specialized training programs for university students. He stressed that building a generation more aware of financial activities and tools is crucial in developing the markets. The authority is also working on developing its information infrastructure and deepening electronic connections with unions and companies operating in supervised activities.
The authority's efforts aim to improve data and information quality, accelerate analysis, and extract accurate indicators of activity developments, helping companies develop products and services according to customer needs and market trends. Dr. Mohamed Abdel Aziz, assistant head of the authority, stated that educating university students about the nature of the non-banking financial sector's work is a key aspect of the authority's financial education plans.
The training experience within the authority not only provided students with practical knowledge and experience but also created a connection between the authority and students in their universities and communities, promoting the dissemination of accurate knowledge about non-banking financial activities. This, in turn, contributes to expanding and deepening markets by attracting more citizens, especially young people, to investment paths supervised by the authority.
Students expressed their appreciation for the practical training experience, which allowed them to closely familiarize themselves with the authority's specializations and regulatory and organizational roles, as well as the nature of work in sectors under its supervision, such as the capital market, insurance, and non-banking finance. They also gained insight into recent developments in digital financial services and products, and applications of financial technology.
The program allowed students to experience a full day of work within the authority, training in departments related to their academic fields, and rotating through several departments, exposing them to different areas of work. This enabled them to link theoretical knowledge with practical applications and understand the regulatory frameworks governing non-banking financial activities and the challenges they face.
Key points
- The program attracted 7,480 applicants, with 228 selected for practical training within the authority's sectors.
- The authority aims to promote financial culture and awareness among young people through educational programs and practical training.
- The program provided students with hands-on experience and exposure to different areas of work within the authority.
