الهيئة العامة للرقابة المالية

Dr. Islam Azzam, FRA Chairman :

• Launching the first national training program to support the government’s IPO strategy.
• Developed and delivered by FRA’s training arms, the FSI and EIoD.
• Upskilling corporate executives to fast-track listing and offering compliance.
• Anchoring IPO success in strict corporate governance, disclosure and transparency.
• Continuous coordination with the State-Owned Enterprises Unit, led by Dr. Hashem El-Sayed, to ensure offerings’ success.

Financial Regulatory Authority (FRA), chaired by Dr. Islam Azzam, is launching a dedicated training program on Sunday 26 July 2026, to build the readiness of temporarily listed state-owned enterprises (SOEs) on the Egyptian Exchange (EGX). Designed as the first national initiative to support the government’s public offering (IPO) strategy through training and qualification, the program is being delivered by FRA’s training arms: the Financial Services Institute (FSI) and the Egyptian Institute of Directors (EIoD).

The program aims to enhance the professional capacity of personnel across targeted state companies, raise financial literacy and facilitate the completion of future operational, financial, and technical offering frameworks, while cultivating a cadre of specialized national experts in IPO execution.

Furthermore, the initiative assists target enterprises in fulfilling all listing and offering requirements on the EGX, ensuring adherence to corporate governance and disclosure best practices as part of broader state efforts to advance the IPO program.

To mark the occasion, FRA is hosting an opening session attended by Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade; Dr. Hashem El-Sayed, Assistant Prime Minister and CEO of the State-Owned Enterprises Unit; Mr. Omar Radwan, EGX Chairman; alongside executive leaders from FRA, EGX and prominent heads of state-owned companies.

Dr. Islam Azzam, FRA Chairman stated: “This readiness program reflects FRA’s integrated role across regulation, oversight and market education to foster more efficient markets. The government IPO program will play a crucial role in deepening, expanding and boosting the attractiveness of the capital market by listing high-caliber state companies across vital economic sectors, thereby diversifying investment opportunities.”

He commended the close coordination with the State-Owned Enterprises Unit, led by Dr. Hashem El-Sayed, highlighting joint efforts to transfer global best practices to targeted entities to ensure seamless compliance after listing.

He added that the program extends beyond the 20 companies currently granted temporary listing status by the Unit to cover approximately 30 additional state-owned enterprises targeted for future offerings across petroleum, mining, pharmaceuticals, tourism, contracting, education and manufacturing. The training targets board members, chief executive officers, chief financial officers, chief accountants, disclosure and investor relations officers, governance and internal audit managers and all executives involved in listing and offering files.

Dr. Tarek Seif, Executive Director of the Financial Services Institute (FSI) noted: “The program guides participants through every stage of the listing and offering journey – from fulfilling temporary listing requirements to final listing and active trading. The curriculum blends concise lectures with real-world case studies and practical simulations.”

He outlined the 7 core pillars of the curriculum: Capital market legislative and regulatory frameworks, Temporary and final listing mechanisms, Financial and accounting readiness, Corporate governance and sustainability requirements, Disclosures and prospectus drafting, Execution mechanisms for public offerings, Post-listing obligations. The sessions will be led by experts from FRA, EGX and FRA-licensed offering advisors.

Together, the Financial Services Institute (FSI) and the Egyptian Institute of Directors (EIoD) deliver diverse annual training modules benefiting thousands of professionals in corporate governance, compliance, sustainability, risk management, investor relations and regulatory frameworks, elevating leadership and professional standards across the non-banking financial sector.