Egypt names EGX’s Mohamed Farid as financial regulator chairman

Egypt’s President Abdel Fattah al-Sisi has appointed Mohamed Farid as the acting chairman of the country’s market regulator, Financial Regulatory Authority (FRA) for one year as of August 7.

Saleh, who has been chairman of the Egyptian Exchange (EGX) since August 2017, will replace Mohamed Omran whose four-year term ends this week.

There have been unconfirmed yet reports that said Ahmed Abdel Rahman El Sheikh, vice chairman of the EGX, will replace Saleh as the new EGX chairman.