Egypt appoints FRA chairman Islam Azzam to GAFI board

Egyptian Prime Minister Moustafa Madbouly has appointed Financial Regulatory Authority (FRA) Chairman Islam Azzam to the board of the General Authority for Investment and Free Zones (GAFI), according to a Cabinet statement issued on Sunday.

The appointment was made under Cabinet Decision No. 1432 of 2026.

The move adds to a series of government roles Azzam has taken on since being appointed FRA chairman in March under Presidential Decision No. 116 of 2026. He also serves on the Cabinet’s Economic Group and the Ministerial Group for Entrepreneurship.

Azzam previously served as FRA deputy chairman and chaired the Egyptian Exchange (EGX). He has also held board positions at several state-linked financial institutions.

Alongside his regulatory career, Azzam has an academic background in finance and economics and previously headed the graduate finance department at the American University in Cairo. He earned a PhD in economics from the University of California, Irvine, in 2003.

Attribution: Amwal Al Ghad English