FRA Highlights Importance of Financial Literacy at "Money Made Simple" Conference

 In a statement issued by the Egyptian Financial Regulatory Authority (FRA), the Authority emphasized the critical role of financial literacy in promoting responsible investment and protecting citizens during its participation in the Money Made Simple conference, organized by the Egyptian Exchange to simplify financial and investment concepts and raise public awareness of capital market mechanisms.

Mohamed Farid, Chairman of the FRA, stated that raising awareness and promoting financial literacy is a cornerstone of the Authority’s work, serving as a fundamental pillar for protecting investors’ rights and enhancing the efficiency and stability of non-banking financial activities.

Farid highlighted that instilling principles of money management and sound investment enables citizens to make informed financial decisions based on a clear understanding of financial instruments, while distinguishing between licensed and unlicensed entities. This approach strengthens market confidence and helps curb fraudulent practices and investment scams.

He added that organizing such conferences and awareness initiatives is a vital step toward enhancing financial literacy across society, encouraging responsible investing, and diversifying investment portfolios, all of which contribute to the efficiency and sustainable growth of financial markets.

The FRA Chairman also underscored the Authority’s pivotal role in establishing legislative and regulatory frameworks supporting various investment activities, particularly in the fintech sector. He noted that the Authority continuously adapts to rapid technological developments, integrating them into the regulatory ecosystem to balance innovation with consumer protection.

Mohamed Abdel Aziz, Deputy Chairman of the FRA, emphasized that awareness and knowledge are the primary tools for sound money management and investment. While technological advancements have expanded financial inclusion and access to services, they have also facilitated new forms of financial fraud, including misleading investment schemes and unrealistic profit promises.

He stressed that addressing these challenges requires intensified financial education efforts, enabling citizens to differentiate between legitimate and illicit investment opportunities and make informed decisions, ultimately protecting savings and promoting market stability.

The FRA concluded by reaffirming that financial literacy represents the first line of defense for citizens, a key pillar for building efficient and stable financial markets, and essential for promoting responsible money management and investment practices that support the national economy and sustainable economic growth.