Wednesday 07/May/2025 – 10:16 AM
Dr. Mohamed Farid, Chairman of the Financial Supervisory Authority, discussed a coordination meeting with Dr. Manal Awad, Minister of Local Development, and Mai Abdel Hamid, CEO of the Social Housing and Real Estate Finance Support, ways and mechanisms of joint cooperation, and how to benefit from non -banking financial services and insurance products provided by the authorities under the supervision and control of the authority.
The meeting witnessed a comprehensive review and the definition of financing, investment and insurance services provided by the authorities subject to the supervision and supervision of the authority, which includes the capital market activities, non -bank financing activities, including real estate financing, financing rental, disperse, and consumer financing, in addition to insurance activities of all kinds.
The meeting discussed how the authorities of the Ministry of Local Development, including the governorates and the Social Housing Fund, benefit from these non -banking financial services and financial products, especially the insurance coverage that contribute to protecting citizens from some risks, in a way that enhances their economic and social stability, and reduces the burdens resulting from any potential risks.
Supporting sustainable economic development plans
Farid stressed that the meeting comes within the framework of the authority’s keenness to enhance cooperation and integration with the various state institutions to introduce them to non -banking financial solutions and services and how to benefit from them to support sustainable economic development plans, saying: We are working to develop and provide financing and investment solutions and innovative insurance coverages that meet the needs of citizens in various governorates, especially the uncommon groups, in a way that enhances their economic capabilities and achieves targeted targets Financial inclusion.
He added that the authority attaches great importance to integration with the Ministry of Local Development to deliver these services to villages and centers, especially those targeted in local development plans and national initiatives.
For her part, Dr. Manal Awad, Minister of Local Development, stressed that cooperation with the Financial Supervisory Authority represents an important step towards enabling the provinces to benefit from modern financial tools, adding: We seek to provide a supportive environment for citizens that enable them to obtain effective financing and insurance services, and helps in improving the standard of living and creating new job opportunities, especially in local communities.
The Minister of Local Development stressed the importance of spreading financial culture and awareness of the available services, to ensure that citizens actively participate in economic activities.
It was agreed to form joint work teams from the authority, local development and the fund to develop an executive plan for cooperation during the coming period, and to determine the priorities of intervention in accordance with the needs, with the aim of ensuring that non -banking financial services reach the largest possible segment of citizens, in a manner that benefits citizens and enhances social stability levels.
This joint cooperation comes as a model that reflects the importance of integration between the various state institutions, specifically with the Ministry of Local Development and the Social Housing Fund in a way that supports and enhances efforts to achieve sustainable development targets in various governorates.
