Prime Minister Moustafa Madbouli attended Thursday the signing ceremony of three cooperation protocols in a bid to raise awareness with respect to non-banking financial services.
The cooperation protocols were signed between the Youth and Sports Ministry and the Ministries of Education, Technical Education and Higher Education and Scientific Research along with the Financial Regulatory Authority.
Education and Technical Education Minister Tarek Shawki, Higher Education and Scientific Research Minister Khaled Abdel Ghaffar and Youth and Sports Minister Ashraf Sobhi along with FRA’s Chairman Mohamed Omran signed the cooperation protocols.
The move came as part of implementing President Abdel Fattah El Sisi’s initiative to develop youths’ money management skills and brief them on the non-banking financial services.
After the signing ceremony, Madbouli said that signing the three cooperation protocols came as part of Egypt’s keenness to spread financial culture among citizens, which is necessary to take rational investment decisions.
All these activities are necessary to enhance national economy, increase GDP growth rates and improve production rates, he went on to say.
The State is paying prior attention to the youths, he said, adding that the cooperation protocols which were signed today are meant to boost entrepreneurship among youths and create jobs for them.
He, meanwhile, said that adopting a unified national strategy for financial inclusion and expanding the beneficiary base of non-banking financial activities put Egypt as part of the international financial inclusion indicators.
The Education minister, for his part, said that the ministry has already started implementing initiatives aiming to spreading financial culture among students.
He further said signing the cooperation protocol with the FRA will contribute to expanding such initiatives to include all the non-banking financial activities.
In the same context, The Higher Education Minister said that his ministry has maintained coordination with the FRA over the past period to take all the necessary steps to activate this protocol.
Source: State Information Service Egypt