Egypt’s FRA chief pledges new products to deepen market

Egypt’s Financial Regulatory Authority (FRA) is working to introduce new financial products and mechanisms to boost efficiency, competitiveness and investment flows in the local market, said Chairman Mohamed Farid said on Tuesday.

Speaking during a meeting with Prime Minister Moustafa Madbouly, newly appointed Egyptian Exchange Chairman Islam Azzam and Finance Minister Ahmed Kouchouk, Farid stressed the FRA’s close coordination with the bourse to ensure stability, safeguard the integrity of non-banking financial institutions and protect investors.

He added that financial technology and sustainability will be central pillars for expanding the non-banking financial sector’s role in supporting Egypt’s economy, alongside strengthening the market’s ability to finance companies and provide diverse investment solutions.

Attribution: Amwal Al Ghad English