Dr. Islam Azzam, Executive Chairman of the Financial Regulatory Authority (FRA), emphasized the urgent need to expand financial literacy and cybersecurity initiatives. As fintech adoption grows, the FRA is dedicated to ensuring Egyptian women, particularly in underserved communities, can navigate the digital economy safely and effectively. This vision was shared during a high-level meeting with a UN Women delegation to explore collaborative strategies for female economic empowerment. The partnership focuses on increasing access to non-banking financial tools for vulnerable women and beneficiaries of microfinance programs.
Both parties agreed on a comprehensive roadmap of workshops and specialized training sessions. These initiatives are designed to build financial capacity, integrate women into the formal economy, and provide robust protection against data theft and cyber piracy. Dr. Azzam clarified that women’s empowerment is a cornerstone of the FRA’s strategy for sustainable development. The Authority is actively implementing regulatory reforms that increase female participation in the financial sector, both as consumers of services and as active providers within the industry.
By creating a supportive legislative environment, the FRA has streamlined rules for microfinance and micro-insurance. This move encourages companies to develop tailored financial products that meet the unique needs of women in remote and marginalized areas. The impact is already evident: in 2025, 1.9 million women secured approximately 36 billion EGP in MSMEs and micro-enterprises financing. Remarkably, women now represent 53% of all microfinance beneficiaries, reflecting the success of the FRA’s regulatory and educational outreach.
The discussions also tackled ways to maximize female participation in financial leasing and micro-insurance to improve living standards and foster financial independence. A major focus remains on expanding these efforts across Upper Egypt and the Delta through localized training. Beyond grassroots support, the FRA is shattering glass ceilings by mandating that non-banking financial institutions include at least two women, or 25% female representation, on their boards of directors. Furthermore, a strict “non-discrimination policy” has been adopted to reward institutions that champion gender equality.
To prepare the next generation of female leaders, the FRA launched the “Certified Board Member” program with the International Finance Corporation (IFC) and the “Women on Boards” initiative with the Fulbright Program. These efforts are further supported by the “Women Empowering” App, specifically designed to help women access executive leadership opportunities. The UN Women delegation praised the FRA’s transformative efforts in driving financial inclusion. They reaffirmed their commitment to ongoing cooperation, ensuring that economic empowerment reaches every woman in Egypt through consistent monitoring and impactful initiatives.
