The Financial Regulatory Authority (FRA) recently hosted a symposium titled “The Role of the Private Sector in Enhancing the Health, Comfort, and Safety of Employees” as part of the United Nations’ global “16 Days of Activism Against Gender-Based Violence” campaign. This annual campaign aims to raise awareness and eliminate all forms of violence against women, with a focus on driving change across societies and workplaces.
The symposium, held in Cairo, brought together key stakeholders from the public and private sectors, including Mohamed Farid, FRA’s Chairperson, and Marwa Alam El-Din, Deputy Representative of UN Women in Egypt. The event highlighted the FRA’s ongoing commitment to women’s economic empowerment, workplace safety, and gender equality, particularly in Egypt’s non-banking financial sector.
FRA’s Commitment to Women’s Empowerment
In his opening remarks, Mohamed Farid emphasized the FRA’s dedication to empowering women and strengthening their participation in Egypt’s economic development. He highlighted several initiatives aimed at increasing female representation on company boards and providing targeted training programs to foster women’s leadership roles in the private sector.
“We remain committed to advancing gender equality and supporting the inclusion of women in leadership positions across all sectors,” said Farid. “This aligns with Egypt’s Women’s Empowerment Strategy 2030 and our broader vision to ensure equal opportunities for all.”
Under Farid’s leadership, the FRA has made significant strides in promoting gender equality within Egypt’s financial sector. In 2022, the FRA became the first regulatory body globally to adopt the United Nations Women’s Empowerment Principles (WEPs), which set the standard for workplace gender equality and female empowerment. Farid also encouraged non-banking financial institutions to adopt these principles, promoting a more inclusive and gender-equal workplace culture across Egypt.
Key Initiatives for Workplace Safety and Gender Equality
The FRA has introduced several key initiatives to further its goals of empowering women and ensuring a safe working environment for all employees:
- Collaborations with UN Women: The FRA has partnered with UN Women to organize seminars focused on gender equality, leadership development, and workplace improvement.
- Publications on Workplace Violence: The FRA periodically publishes reports urging companies to combat workplace harassment and gender-based violence, emphasizing the importance of creating a safe and inclusive work environment.
- Increased Female Representation on Boards: The FRA has implemented measures to increase the representation of women on boards of directors in non-banking financial institutions, furthering gender equality in decision-making roles.
Addressing Workplace Violence and Promoting Accountability
During the symposium, Farid discussed the critical issue of workplace violence and harassment, citing the International Labour Organization (ILO) Convention No. 190, which defines workplace violence and harassment as behaviors that cause physical, psychological, or economic harm. These behaviors include bullying, harassment, and discriminatory practices such as dismissals due to marriage or childbirth.
Farid referred to ILO reports, which reveal that over 23% of employees worldwide experience some form of workplace violence or harassment. This statistic underscores the need for clear policies and strong institutional commitments to combat workplace violence and ensure safe and healthy working environments for all employees.
“We believe that addressing workplace violence is integral to promoting a culture of respect and equality,” Farid said. “Our commitment to women’s economic empowerment is a cornerstone of social justice, and it is essential to create workplaces where everyone, regardless of gender, feels safe and valued.”
Strengthening Private Sector Partnerships for Gender Equality
Marwa Alam El-Din, Deputy Representative of UN Women in Egypt, spoke about the importance of private sector partnerships in advancing women’s empowerment. She stressed that companies play a vital role in creating work environments that promote employee safety, health, and overall well-being.
“We are steadfast in our commitment to supporting private sector companies through collaboration with development partners,” said Alam El-Din. “By creating safe, inclusive, and supportive work environments, companies enhance productivity and contribute to Egypt’s broader economic development goals.”
El-Din also emphasized the importance of encouraging more Egyptian companies to adopt global principles for women’s empowerment, ensuring a broader cultural shift toward gender equality in the workplace.
Building a Culture of Inclusivity and Accountability
Marian Kaldas, Executive Director of the Egyptian Center for Arbitration and Settlement of Non-Banking Financial Disputes, discussed the need for institutions to shift their culture and practices to empower women. She advocated for:
- Employee training on codes of conduct and complaint mechanisms
- Regular evaluations to assess the effectiveness of these policies
- Specialized training for staff in complaints departments to ensure impartial handling of cases
Kaldas emphasized the importance of creating a culture of accountability, where employees feel confident in reporting harassment and where institutional leadership takes these reports seriously.
Launching the Community Building Unit
One of the highlights of the symposium was the announcement of the FRA’s new Community Building Unit. Yasmine Hassan, Director of the FRA Council’s Secretariat Department and head of the women’s empowerment initiative, outlined the role of this unit in fostering a stable, inclusive, and non-discriminatory work environment.
“Our goal is to create a safe and supportive workplace for all employees,” said Hassan. “The Community Building Unit will focus on building strong, inclusive communities within the workplace, ensuring that all employees feel valued and supported.”
This initiative aligns with the FRA’s broader commitment to promoting workplace safety, gender equality, and economic empowerment, reinforcing the Authority’s leadership in driving positive change in the private sector.
The Path Forward: A Commitment to Gender Equality
As Egypt continues to focus on gender equality and women’s empowerment, the FRA’s initiatives provide a clear path forward for creating more inclusive and equitable workplaces. The collaboration between the FRA, UN Women, and other stakeholders ensures that gender equality remains at the forefront of Egypt’s development agenda.
The FRA’s commitment to eliminating workplace violence and enhancing women’s leadership opportunities signals a significant step toward a more just and equitable society. With continued efforts from both public and private sector partners, Egypt is well on its way to achieving its Women’s Empowerment Strategy 2030 and fostering a culture of inclusion, respect, and equality in all sectors of the economy.
