Non-Banking Instruments Regulations Enhance Competition: Sharkawi

Dr. Ashraf El Sharkawy, chairman of the Egyptian Financial Supervisory Authority (EFSA), has stressed the importance of the supervision and regulation of the non-banking financial markets and instruments. Regulations aim at achieving the security and stability of these markets and instruments, at organizing and developing the market’s activities and at enhancing their competitive capacity to attract further local and foreign investments.

The regulation process includes the Capital Market, the Exchange, all activities related to Insurance Services, Mortgage Finance, Financial Leasing, Factoring and Securitization.

Sharkawi added that the Egyptian Institute of Directors (EIoD) has a crucial role in spreading awareness about corporate governance in the Egypt, the Middle East and North Africa (MENA) region. EIoD provides its support for any students’ promising initiatives which seek to strengthen and ensure the youth’s role in undergoing positive changes in the Egyptian society.

He highlighted the EIoD’s concerns for providing its full support for these effective initiatives organized through various educational organizations that aim at raising the awareness among students of Business Management, Finance, Economics, Accounting and law. All these students are looking forward to working in a transparent and fair environment. Therefore, it is pivotal to increase the students’ awareness about such practices made while working in the field of business mainly Corporate Governance, thus there would be a promising generation able to upgrade the overall performance of the Egyptian companies and economy.