Fintech
Egyptian universities adopt “FinTech Fundamentals” course in a revolutionary move
In a key move to stay abreast of the latest technological advancements in the banking sector and to bridge the gap between academic education and job market needs, FinTech Egypt – an initiative of the Central Bank of Egypt (CBE) – announced the integration of the “FinTech Fundamentals” course into the curricula of several universities. This initiative is part of “FinYology”, in collaboration with the Egyptian Banking Institute (EBI) as a strategic ally.
The course is scheduled for the current academic year at the Arab Academy for Science, Technology and Maritime Transport (AAST), Newgiza University (NGU) and the British University in Egypt (BUE), marking the first phase of the rollout, with plans to extend to other universities in future phases.
Ayman Hussein, the CBE’s first deputy governor for IT, noted: “The introduction of this new module is a continuation of the CBE’s dedicated efforts to enhance Egypt’s fintech ecosystem. It is part of our fintech and innovation strategy, which prioritizes the cultivation of young talent as a key objective.” Lui also highlighted the success of the “FinYology” initiative since its launch in February 2020, highlighting its role in spreading digital financial knowledge among university students. The initiative saw the participation of 18 banks and over 25 public and private universities, with more than 500 university projects related to fintech presented by almost 7,000 students from various disciplines.
Abdel Aziz Nossier, Executive Director of the EBI, expressed his satisfaction with the CBE’s decision to entrust the EBI with the task of expanding the “FinYology – FinTech for Youth” initiative. This involves the adoption of a new and comprehensive fintech curriculum for students in relevant university faculties. “This measure is in line with our strategy to empower students and recent graduates, preparing them with the skills needed for the workforce and launching impactful projects that support the economy. Success in this endeavor comes from fostering cutting-edge fintech applications and opportunities,” he said.
It is significant to mention that the content of the “Fundamentals of FinTech” course was developed in collaboration with the London Institute of Banking & Finance (LIBF), which has a 140-year history of building capabilities for the banking and finance sectors. LIBF offers specialized fintech educational programs in the MENA and North Africa regions. This collaboration is part of the implementation of the Memorandum of Understanding (MoU) signed between CBE and LIBF in July 2023, during the Seamless North Africa 2023 conference. The MoU includes a series of training courses, workshops and tailor-made educational programs to support and develop fintech professionals in the Egyptian market, including banking sector employees, graduates and students.