For the first time in Egypt, FRA conducts stress testing on non-banking sector

By Amwal Al Ghad English On May 21, 2020

Mohamed Omran, chairman of the Egyptian Financial Supervisory Authority (EFSA) speaks at the Egyptian Third Annual Leasing Conference in Cairo on October 16, 2018.

The team managing the impact of coronavirus pandemic conducted for the first time in Egypt “stress testing” to determine the ability of the non-banking financial sector to bear the financial impact resulting from the coronavirus (COVID-19) on economy, according to Chairman of the Financial Regulatory Authority (FRA) Mohamed Omran.

He added that the at the team has urged the companies affiliated to FRA to put different plans to continue their business under the coronavirus crisis.

The stress testing is an analysis or simulation designed to determine the ability of a given financial instrument or financial institution to deal with an economic crisis.

This analysis aims at knowing the risks facing the non-banking financial markets because of the spread of COVID 19, Omran said.

FRA