Egypt wins key IOSCO role as FRA Chief secures GEMC chairmanship

Egypt, represented by Islam Azzam, Chairman of the Financial Regulatory Authority (FRA), won the chairmanship of the Growth and Emerging Markets Committee (GEMC) of the International Organisation of Securities Commissions (IOSCO) for the 2026–2028 period. The victory also gives Islam the position of Vice-Chair of IOSCO’s Board of Directors for the next two years.

The appointment also grants Azzam the position of Vice-Chair of IOSCO’s Board for the next two years, strengthening Egypt’s presence in international financial policymaking.

The GEMC, IOSCO’s largest committee, represents more than 75 per cent of its members, comprising 94 full members and 23 associate members across some of the world’s fastest-growing economies, including several G20 countries. The committee plays a central role in enhancing capital market efficiency, setting regulatory standards, and promoting cooperation and information exchange among members.

Azzam said the election reflects growing international confidence in Egypt’s regulatory framework, adding that the FRA will prioritise closer cooperation, knowledge-sharing, financial innovation, and the adoption of new technologies, alongside advancing sustainable finance initiatives.

The move highlights Egypt’s efforts to modernise its capital markets, strengthen competitiveness in line with global standards, and promote digital transformation and sustainable finance.

Under Egypt’s leadership, the committee is expected to deepen collaboration among members, support capital market development in emerging economies, and advance inclusive and sustainable growth.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser