Ministry of Communications and Information Technology
17 June 2013
ITIDA, FSI Sign Cooperation Protocol

The Information Technology Industry Development Agency (ITIDA) and the Financial Services Institute (FSI) signed a cooperation protocol to provide small and medium enterprises (SMEs) with training and consulting  services related to non-bank financial areas. 

This helps SMEs working in the communications and information technology fields to get acquainted with the suitable funds, to face challenges and find solutions to improve their productivity.

The protocol reflects ITIDA’s keenness to cooperate with the training and research non-bank financial institutes. This is to create an investment climate encouraging individual initiatives with focus on SMEs being a main engine of socio-economic development .

Accordingly, ITIDA, in cooperation with FSI, shall organize training programs and workshops to raise the awareness of ICT promising companies regarding the opportunities to increase their investments and to confront the fierce competition in local and international markets.

Signing the protocol, FSI is to organize a 2-day training program. Moreover, ITIDA shall host a 2-day training program followed by a discussion panel including the leaders of the Agency, the Institute and other related entities. Discussions are to tackle SMEs’ opportunities and challenges.

ITIDA Chief Executive Officer, Mr Yasser El Kady pointed out that the protocol reflected the Agency’s commitment to create partnerships with various institutions in the government, industry, academy sectors, to fully shift towards the knowledge society and encourage invention and scientific research. This is to establish an integrated system in order to build a strong economy based on innovative technology.

This also referred to the agency’s engagement  towards the Ministry of Communications and Information Technology initiatives to support innovation, he added.     

About FSI
Established in June 2010 as per the law no. 10 for year 2009, the Financial Services Institute was activated in 2011. It is concerned with markets organization and non-bank financial tools. The Institute is affiliated to the Egyptian Financial Supervisory Authority (EFSA). 

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