The Financial Regulatory Authority held a coordination meeting with the Central Bank of Egypt to discuss mechanisms for strengthening cooperation in raising financial inclusion levels and expanding access to financial services, alongside advancing programs for small businesses and women's economic empowerment.
The coordination meeting between the Financial Regulatory Authority (FRA) and the Central Bank of Egypt (CBE) highlighted efforts to deepen integration between fiscal and monetary policies, alongside regulatory frameworks, to foster inclusive and sustainable economic growth. Discussions centered on improving citizens' access to banking and non-banking financial services, with a strong focus on aiding small and micro enterprises through financing mechanisms that promote their sustainability and role as engines of economic expansion.
Strategies were reviewed to incorporate financially excluded groups into the formal financial system, ensuring efficient and equitable delivery of services to eligible recipients. Women's economic empowerment stood out, with talks emphasizing easier access to finance for women entrepreneurs and the provision of essential technical and advisory support to help establish and grow their ventures.
The meeting also covered financial awareness and education, underscoring the need to intensify initiatives that inform people about their financial rights and cultivate habits of saving and prudent investing. Representatives from the FRA and CBE stated that this bolstered coordination seeks to elevate financial inclusion rates, expand the beneficiary base, and enhance financial literacy via data sharing, all while protecting user rights, reducing financial risks, and advancing Egypt's vision for a digital and inclusive economy.