الهيئة العامة للرقابة المالية

Dr. Islam Azzam – FRA Chairman:

“Figures and data are the driving fuel for economic policies… Transparency and accessibility are vital to attracting investments.”

General Eng. Akram Al-Gohary, President  of the Central Agency for Public Mobilization and Statistics (CAPMAS):

“This protocol is a major strategic step toward deepening institutional integration in support of the national economy.”

Financial Regulatory Authority (FRA) and the Central Agency for Public Mobilization and Statistics (CAPMAS) have signed a first-of-its-kind cooperation protocol. The agreement establishes a regulatory framework for exchanging and providing statistical data and indicators related to the insurance and securities brokerage sectors, aiming to shape state economic policies on precise scientific and statistical foundations.

Dr. Islam Azzam, FRA Chairman and General Eng. Akram Al-Gohary, President of CAPMAS signed the protocol. The initiative falls within the framework of executing sustainable development plans, upgrading the national economy’s information infrastructure, and fostering integration among government entities to support evidence-based decision-making.

This collaboration stems from the constitutional mandate of FRA to oversee and regulate non-banking financial activities, complemented by the pivotal role of CAPMAS as the official source of data and statistics for the Egyptian state.

Dr. Islam Azzam, FRA Chairman emphasized that figures and data serve as the driving fuel for economic policies. He noted that specialized studies confirm that transparency and data accessibility yield a significantly positive impact on attracting investments—particularly in emerging markets—while building trust and mitigating risks.

Furthermore, Dr.  Islam Azzam highlighted FRA’s ongoing commitment to ensure companies across various sectors—including the capital market, insurance, and non-banking finance—log their data onto electronic linkage platforms. He stressed the importance of providing the necessary technological infrastructure to connect their databases with FRA’s central system. Efforts are currently underway to expand and deepen this connectivity to achieve full integration between the Authority and all regulated sectors, leveraging modern technologies to analyze data and extract indicators with speed and precision.

Dr.  Islam Azzam further lauded CAPMAS for its exceptional role in producing and analyzing official statistical data according to the highest international standards, praising its highly professional reports that cover most of Egypt’s economic activities.

On the other hand, General Eng. Akram Al-Gohary stated that the protocol represents a critical milestone in deepening institutional integration. He reaffirmed that CAPMAS is deploying its full technical and technological arsenal to produce flawless statistics that support the non-banking financial sector—a cornerstone of the national economy—ultimately sharpening the efficiency of regulatory policies and elevating market transparency.

General Al-Gohary also underscored his commitment to modernizing the Agency’s economic census and financial reports, ensuring they keep pace with rapid technological advancements and mirror real-world market shifts, all while rigidly safeguarding data security and legally mandated confidentiality.

The protocol establishes a streamlined framework for transferring statistical data from FRA-regulated insurance, reinsurance, and securities brokerage firms to CAPMAS. This setup guarantees a continuous flow of updated indicators essential for crafting robust socio-economic policies, while dynamically supporting efforts to attract investments.

Additionally, the protocol introduces a much-needed operational shift by eliminating duplicate data requests. By streamlining how information is gathered, the agreement significantly reduces the administrative and financial burdens on private companies, leading to optimal resource utilization across the national data ecosystem.

The protocol aligns with the state’s broader commitment to cementing data-driven governance and upgrading the national information infrastructure. This integration enables relevant authorities to efficiently gauge economic sector performance and forecast future growth trends, ultimately driving sustainable development while boosting market competitiveness and investment appeal.

Both parties reaffirmed their dedication to execute the agreement under the highest standards of accuracy, confidentiality and data protection, ensuring its goals are met to maximize the utility of statistical indicators in serving the national economy.