Egypt’s FRA chief Mohamed Farid reappointed with ministerial rank

President Abdel Fattah El-Sisi renewed Mohamed Farid’s appointment as acting chairman of Egypt’s Financial Regulatory Authority (FRA) for a fourth term, granting him ministerial rank, according to a presidential decree issued Thursday.

Farid’s one-year extension begins August 7, 2025, under decree No. 421 of 2025. He will continue overseeing regulatory reforms and financial sector supervision as Egypt pushes to deepen capital markets and attract investment.

Farid also serves on the board of the Central Bank of Egypt (CBE) and chairs the national committees for Egyptian accounting and auditing standards. Internationally, he is vice chair of the International Organisation of Securities Commissions (IOSCO) and leads its Growth and Emerging Markets Committee (GEMC) — the group’s largest by membership and geographic scope. He is also vice chair of African Reinsurance Corporation and serves on the Africa Advisory Council of the Glasgow Financial Alliance for Net Zero (GFANZ), underscoring his expanding influence across financial policy and sustainability initiatives on the continent.

The FRA oversees Egypt’s non-banking financial sector, including capital markets, insurance, mortgage finance, and microfinance. Farid’s reappointment comes as Egypt pushes forward with regulatory reforms to attract foreign investment, deepen capital markets, and promote financial inclusion.

Attribution: Amwal Al Ghad English