FRA Focuses On Women's Empowerment To Bolster Economic Role: Chairperson

(MENAFN- Daily News Egypt) The financial Regulatory Authority (FRA) hosted a symposium titled“The Role of the Private Sector in Enhancing the Health, Comfort, and Safety of Employees” as part of the United Nations'“16 Days of Activism against Gender-Based Violence” campaign. The campaign aims to raise awareness and eliminate all forms of violence against women.

In his opening remarks, Mohamed Farid, FRA Chairperson, emphasized the Authority's dedication to empowering women and strengthening their participation across all economic sectors. He highlighted FRA's initiatives to ensure greater female representation on company boards and provide targeted training programs to advance women's leadership. These efforts align with Egypt's Women's Empowerment Strategy 2030 and the state's broader vision for gender equality.

Farid underscored FRA's significant strides in supporting women and addressing violence in all its manifestations. Notably, in 2022, FRA became the first regulatory body globally to adopt the United Nations Women's Empowerment Principles (WEPs). The Authority also encouraged non-banking financial institutions to embrace these principles, promoting gender equality within workplaces and society at large.

The FRA has introduced several key initiatives, including:

• Collaborations with UN Women on seminars about gender equality and workplace improvement.
• A periodic publication urging companies to combat workplace harassment and violence.
• Measures to increase female representation on boards of directors within the non-banking financial sector.

Farid also announced the launch of FRA's Community Building Unit, aimed at fostering a stable and inclusive work environment for all employees. As part of these efforts, the FRA has prioritized educating male and female employees on its Code of Conduct.

Addressing workplace violence, Farid cited the International Labour Organization (ILO) Convention No. 190, which defines workplace violence and harassment as unacceptable behaviors causing physical, psychological, or economic harm. These include bullying, harassment, and discriminatory practices such as dismissal due to marriage or childbirth. Farid referred to ILO reports revealing that over 23% of employees worldwide experience workplace violence or harassment, underscoring the urgent need for clear policies to ensure safe and healthy work environments.

Farid concluded by affirming FRA's commitment to women's economic empowerment as a cornerstone of justice and equality.

Collaboration with UN Women

Marwa Alam El-Din, Deputy Representative of UN Women in Egypt, highlighted the critical role of private sector partnerships in advancing women's empowerment.

“We remain steadfast in supporting private sector companies through collaboration with development partners. Companies play a vital role in creating work environments that promote employee safety and health, which, in turn, enhances productivity. We also aim to encourage more Egyptian companies to adopt global principles for women's empowerment and actively boost female participation in the labor market,” she said.

Building a Culture of Accountability

Marian Kaldas, Executive Director of the Egyptian Center for Arbitration and Settlement of Non-Banking Financial Disputes, emphasized the importance of institutional efforts to empower women. She advocated for:

• Employee training on codes of conduct and complaint mechanisms.
• Regular evaluations to ensure understanding of these policies.
• Encouraging a shift in institutional culture to normalize the use of complaints management systems.
• Specialized training for staff in complaints departments to ensure impartial handling of cases.

Driving Inclusivity Through Community Building

Yasmine Hassan, Director of the FRA Council's Secretariat Department and head of the women's empowerment initiative at the Authority, presented details on the Community Building Unit. She outlined its role in fostering a safe, stable, and non-discriminatory work environment for employees.

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