Egyptian universities to adopt ‘Fundamentals of FinTech’ course in groundbreaking move
In a landmark 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 by the Central Bank of Egypt (CBE) – has announced the integration of the “Fundamentals of FinTech” course into the curricula of several universities. This initiative is part of “FinYology,” in partnership with the Egyptian Banking Institute (EBI) as a strategic ally.
The course is slated 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 stages.
Ayman Hussein, the First Sub-Governor for the Information Technology Sector at the CBE, remarked: “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 prioritises nurturing young talent as a fundamental objective.” He also highlighted the success of the “FinYology” initiative since its inception in February 2020, noting its role in disseminating digital financial knowledge among university students. The initiative has seen participation from 18 banks and over 25 public and private universities, with more than 500 fintech-related university projects submitted by nearly 7,000 students from various disciplines.
Abdel Aziz Nossier, Executive Director of EBI, conveyed his satisfaction with the CBE’s decision to entrust EBI with the task of expanding the “FinYology – FinTech for Youth” initiative. This involves the adoption of a new, 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 initiating impactful projects that bolster the economy. Success in this endeavour comes from promoting cutting-edge fintech applications and opportunities,” he stated.
It is significant to mention that the “Fundamentals of FinTech” course content was developed in collaboration with The London Institute of Banking & Finance (LIBF), which boasts a 140-year history in capacity building for the banking and finance sectors. LIBF offers specialised fintech educational programs across the MENA and North African regions. This collaboration is part of the implementation of the Memorandum of Understanding (MoU) signed between the CBE and LIBF in July 2023, during the Seamless North Africa 2023 conference. The MoU encompasses a range of training courses, workshops, and educational programs tailored to support and develop fintech professionals in the Egyptian market, including banking sector employees, graduates, and students.
