Arab Finance: Chairman of the Financial Regulatory Authority (FRA) Islam Azzam witnessed the signing of several cooperation protocols aimed at developing human capital in the non-banking financial sector, as part of the authority’s strategy to support market growth and efficiency, as per a statement.

The move falls within the FRA’s broader plan to strengthen the non-banking financial sector by building a qualified workforce capable of keeping pace with rapid market developments, improving institutional efficiency, and supporting market stability and consumer protection.

The protocols aim to maximize the use of practical experience by enabling qualified members of federation-affiliated companies to join the institute as accredited instructors after passing technical assessments. This is expected to support knowledge transfer and improve the quality of training programs.

Cooperation areas also include developing flexible training plans tailored to the needs of federations and companies, offering incentives to members, and updating training content in line with market developments.

Azzam said the protocols reflect the FRA’s continued focus on investing in human capital as a main driver of growth in the sector. He noted that developing workforce capabilities has become necessary amid successive changes in non-banking financial activities, particularly with the expansion of financial technology, which requires ongoing improvements in financial literacy and professional skills.

He added that the FRA is working to build an integrated training system through partnerships with local and international professional institutions to prepare qualified personnel capable of applying high standards of efficiency and governance.

This approach aims to enhance investor confidence, improve regulatory and training frameworks, and support the sector’s attractiveness to investments while achieving sustainable growth.

Azzam also highlighted that expanding specialized training programs linked to market needs contributes to improving service quality and supports efforts to advance financial inclusion and broaden access to secure and innovative financial services.

The FRA continues to expand its training and qualification programs through the Financial Services Institute, focusing on governance, risk management, financial innovation, and digital transformation.

These efforts align with international best practices and aim to enhance the competitiveness of Egypt’s non-banking financial sector at both regional and international levels.