FRA Chairman highlights financial sector reforms in London mission

Egypt’s Financial Regulatory Authority (FRA) Chairman, Mohamed Farid, has outlined the authority’s efforts to advance the non-banking financial sector during a three-day Egypt Business Mission to the UK.

The event, organised by the Egyptian-British Business Association (BEBA), included the participation of Egypt’s Ministers of Investment and Finance, as well as private sector representatives from Egypt and the UK.
Farid delivered a keynote speech on the first day of the mission, highlighting that attracting more investments is key to developing Egypt’s non-banking financial sector and maintaining market stability.

He stressed that ensuring the sustainability of the reforms’ impact remains a priority for the FRA, which is engaged in ongoing discussions with key stakeholders to strengthen the sector’s competitiveness. He also underscored the importance of financial technology, which poses both opportunities and challenges for regulators.

Moreover, Farid emphasised the FRA’s focus on reforms, particularly in digital transformation, the establishment of the first regulated African Voluntary Carbon Market, and the implementation of a unified insurance law to enhance the liquidity and activity of the securities market.

Farid further noted that the FRA has recently amended key regulations, such as prohibiting insider trading ahead of major announcements and ensuring companies provide adequate disclosures related to voluntary delistings. The authority continues to work on creating a favorable investment climate while focusing on digitalization and market integrity to attract local and foreign investments.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama