EGX & Al-Nahda University Sign MoU for Financial Literacy

Egyptian Exchange Posted

The Egyptian Exchange (EGX) signed a Memorandum of Understanding (MoU) with Al-Nahda University in Beni-Suef, for cooperation in raising financial literacy for the university students.  Dr. Mohammed Farid Saleh, Executive Chairman of EGX, and Dr. Hossam Al-Malahi, President of Al-Nahda University, signed the MoU in the presence of Dr. Mohammed Hani, Beni-Suef Governor and representatives from both parties.

The financial literacy program will comprise educational lectures on the effect of capital market on economy growth though aiding different economic entities to reach financing growth needed, expansion and business development, as well as educating them on the basics of investment and cumulative long-term savings through the exchange.

Dr. Mohamed Farid, Executive Chairman of EGX, said that this cooperation is of vital important to EGX as it is directed to Upper Egypt students.  It also supports EGX’s efforts to raise financial awareness through lectures on basics of investment and long-term savings.  The program will include a practical section through the simulation trading and investing program of EGX. 

Farid added that joint working groups will be formed between EGX and Al-Nahda University to develop the mechanisms and operational procedures necessary to achieve the objectives of the agreement and coordination and follow-up implementation.

Dr. Hossam Al-Malahi, President of Al-Nahda University, said that the university will provide the logistics for the establishment of training programs, seminars and workshops.  He pointed out the importance of this cooperation to support the university’s efforts in achieving efficient interactive learning methods and systems to qualify students and prepare them for the practical life.

Dr. Mohammed Hani, Beni-Suef Governor, said that this step contributes in the capacity building of the students, in capital market related matters which is in line with the Egyptian cabinet’s plans. “EGX reflects the economic development in Egypt, and improve the mental image of the role of capital market in the economy and the fundamentals of investment need to stimulate investment and trading.”

Dr. Mohamed Farid, held the first lecture entitled “Fundamentals of the Egyptian Exchange”, during which he highlighted several important points, namely the role of EGX in achieving economic growth and its relationship to individual’s daily activities, as well as basic information on how to invest and long-term savings.