Financial Regulatory Authority forms CSR working group

The Financial Regulatory Authority (FRA) has established a working group to promote corporate social responsibility (CSR) and sustainability within the non-banking financial sector. Chaired by Tarek Seif, Vice Chairman of the FRA, the group aims to transition CSR from isolated initiatives into an integrated institutional system.

Islam Azzam, Chairman of the FRA, stated that the priority is to build partnerships and develop initiatives that address the actual needs of society, particularly for the most vulnerable groups. The group will work on developing a strategy aligned with national trends and sustainable development goals, while enhancing financial literacy and inclusion through non-banking financial products and services.

The working group is tasked with creating regulatory frameworks to incentivize financial institutions to expand their social responsibility practices. It will also implement awareness programs and establish cooperation protocols with national development and sustainability entities to ensure measurable social impact.