Egypt’s FRA holds talks with WB, IFC to boost capital market collaboration

Egypt’s Financial Regulatory Authority (FRA) Chairman, Mohamed Farid met on Thursday with a joint delegation from the World Bank (WB) and the International Finance Corporation (IFC) to discuss enhanced cooperation under the Joint Capital Market Programme (J-CAP).

During the meeting, Farid reaffirmed the FRA’s commitment to global partnerships and efforts to align Egypt’s capital market with international best practices. He emphasised the importance of expanding financing options, fostering a competitive financial ecosystem, and improving access to capital for entrepreneurs and start-ups.

Farid also showcased Egypt’s first regulated voluntary carbon market, highlighting its role in promoting corporate sustainability initiatives. He stressed the need for collaboration with the World Bank to raise awareness and drive corporate participation in carbon trading.

Additionally, he underscored the FRA’s focus on financial technology and digitalisation as key drivers in strengthening Egypt’s non-banking financial sector and advancing the country’s financial inclusion strategy.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser