الهيئة العامة للرقابة المالية

• Islam Azzam:

“Utilizing innovative instruments and a high-efficiency, transparent tech infrastructure.”

“Promoting financial literacy is the foundation for achieving sustainable growth and strengthening the financial sector’s role in the economy.”

Dr. Islam Azzam, FRA Chairman hosted a delegation from the U.S. Embassy in Cairo, led by Mr. Ben Thomson – Counselor for Economic Affairs. The meeting was held in the presence of Mr. Omar Radwan, the newly appointed EGX Chairman, and Mr. Mohamed Sabry, Vice Chairman of the EGX. The session underscores FRA’s commitment to strengthen ties with international partners and explore collaborative avenues to bolster the Egyptian economy.

During the meeting, Dr. Azzam detailed FRA’s latest initiatives to develop Capital Market and enhance transparency through improved data accessibility. He specifically highlighted the integration of Artificial Intelligence (AI) into market analytics to empower investors with data-driven decision-making tools.

Dr. Azzam further elaborated on FRA’s fundamental role in regulating and developing the non-banking financial sector to boost market efficiency and investor appeal. He provided the U.S. delegation with a comprehensive briefing on the executive measures currently being implemented to expand the available financial instruments.

For their part, the U.S. delegation noted a rising interest in Egypt’s investment landscape. They emphasized that the diversity of financial tools and the promising opportunities across multiple sectors position Egypt as a highly competitive destination for international capital.

Addressing inquiries from the U.S. side, Dr. Azzam discussed the activation of derivatives market. This follows the recent launch of Futures Contracts on the EGX and licensing of six brokerage firms to facilitate trading. He confirmed that close coordination with the EGX is ongoing to introduce Option Contracts in the near future. Additionally, he noted that FRA is finalizing the legislative and regulatory frameworks for Short Selling, an initiative designed to deepen market liquidity and diversify investment strategies while ensuring systemic stability.

He emphasized that FRA is accelerating its development roadmap by adopting innovative financial tools and upgrading technological infrastructure to create a more sophisticated and attractive investment ecosystem for all market participants.

Dr. Azzam also stressed the vital role of financial literacy and public awareness in the success of these reforms. He expressed a strong commitment to promote Capital Market’s evolution to both retail and institutional investors, particularly ahead of the upcoming Government IPO Program, which is expected to drive significant market participation.

In closing, Dr. Azzam reaffirmed FRA’s ambitious vision to set Egypt as a premier regional hub for non-banking financial services. By prioritizing stability, transparency, and innovation, the Authority aims to drive sustainable economic growth and maximize financial sector’s contribution to the national economy.