Press Releases
Prime Minister Appoints Mohamed Sabry as EGX Vice Chairman– Monday 25 August 2025
Prime Minister Dr. Mostafa Madbouly issued Decree No. 2812, appointing Mohamed Sabry as the new Vice Chairman of the Egyptian Exchange (EGX) for a one-year term.
Mohamed Sabry has held several positions recently; he served as Assistant to Chairman of the Financial Regulatory Authority (FRA) for Capital Markets Affairs. He held this position from August 26, 2024 to August 2025.
Prior to that, he was Deputy Assistant to FRA Chairman and Supervisor of Market Surveillance Sector from March 2023 to August 26, 2024.
Previously, Sabry worked in the Capital Market Unit at the Ministry of Investment before moving to work at several securities’ brokerage firms. After that, he joined the EGX, where he advanced through various positions to eventually become Head of Market Surveillance Sector.
Prime Minister Appoints Dr. Islam Azzam as EGX Chairman – Monday 25 August 2025
Prime Minister Dr. Mostafa Madbouly has issued decree no. 2812 of 2025 appointing Dr. Islam Azzam as the new Chairman of the Egyptian Exchange (EGX) for a one-year term.
Dr. Azzam has held several positions recently, he served as FRA Vice Chairman from 2021 to 2025, where he supervised capital markets, insurance and non-banking finance sectors.
His career also includes key positions such as Advisor to Chairman of the Mortgage Finance Authority (2007-2009), Assistant to Chairman of the Capital Market Authority (2003-2005). He held the position of Managing Director of the SME Investment Fund (Bidaya) and Advisor to the Minister of Investment.
Dr. Azzam began his professional journey as an economic analyst in Market Surveillance Department at the Capital Market Authority.
He is a professor of finance at the American University in Cairo (AUC). He previously served as Head of Finance Department at AUC from 2005 to 2021. Throughout his career, he has held a variety of teaching positions at several prestigious institutions around the world, including Visiting Professor of Finance at Stellenbosch University in South Africa and the Arab Academy for Science, Technology & Maritime Transport, as well as a Visiting Assistant Professor of Economics at the London School of Economics, Cairo University, and an Assistant Professor of Economics at Suez Canal University. He also served as an instructor in economics at the University of California, Irvine.
Dr. Azzam holds several significant board memberships, demonstrating his expertise and leadership across different sectors. He is a member of the Board of Trustees for both the Egyptian Money Laundering Combating Unit (EMLCU) and the Egyptian Center for Arbitration and Settlement of Non-Banking Financial Disputes (ECAS). Additionally, he serves on the Board of Directors for the Egyptian Arab Land Bank as well as the Rural and Environmental Industries Support Fund (REIS) and the Financial Services Institute (FSI). In addition, he served on the Board of Directors of Misr Insurance Holding Company, where he was also a member of both the Audit and Investment Committees. Also, He was a Board member at Dakahlia Sugar Company, the Egyptian Resorts Company and El Shams Housing Company.
Dr. Azzam’s academic qualifications are extensive. He holds a Ph.D. in Economics from the University of California, Irvine, with a specialization in Econometrics, Economic Forecasting and Monetary Policies. From the same institution, he also earned an M.A. in Economics. He holds another M.A. in Economics from The American University in Cairo, as well as a Diploma in Real Estate Finance from the University of Pennsylvania. He completed his undergraduate studies at Cairo University, where he received a B.A. in Economics. In addition to his degrees, Dr. Azzam has authored numerous research papers published in peer-reviewed international scientific journals, with a focus on finance, econometrics and monetary policies
FRA Launches Competition to Empower Youth and Researchers in Non-Banking Financial Activities – Thursday 21 August 2025
In its ongoing effort to support scientific research and encourage youth to actively contribute to the non-banking financial sector, FRA has launched its annual research competition. This year’s competition is open to researchers, university students and postgraduate students in Egypt and abroad.
The initiative seeks to drive innovation in the sector, improve communication between academia and regulatory bodies, ultimately, support financial sustainability and growth of the Egyptian market.
Prize Categories and Competitions
- Dr. Ahmed Saad Award for Best Research Project on the Capital Market
- Concept: Prepare an applied scientific research paper that offers innovative solutions and insights for developing the Egyptian capital market.
- Target Audience: Researchers, postgraduate students and those interested in economics, business administration, finance, accounting, and law from Egypt or abroad.
Conditions:
- The research must be in Arabic or English.
- It must not have been previously published or submitted to any other entity.
- It must include applicable recommendations.
- Dr. Ashraf El-Sharkawy Award for Best Comparative Study on Laws of Non-Banking Financial Activities in Egypt and Abroad
- Concept: Prepare a comparative study on non-banking financial laws in Egypt and abroad, such as those related to real estate finance, financial leasing, factoring, consumer finance and MSME finance.
- Target Audience: Researchers and university students.
Conditions:
- The research must be in Arabic or English.
- It must not have been previously published or submitted to other competitions.
Prize Values
- First Prize: 100,000 EGP
- Second Prize: 50,000 EGP
- Third Prize: 25,000 EGP
General Submission Conditions:
- The research must be original and not previously published or submitted to other competitions.
- Adherence to scientific methodology and accuracy of presentation is required.
- It should be submitted digitally via the designated email address.
- Employees of the Financial Regulatory Authority (FRA) or their relatives are not eligible to apply for the competition.
Submission Dates:
Submissions will be accepted from Thursday, August 21, 2025, until Sunday, November 21, 2025.
Submission Email:
FRA believes in the power of youth and researchers to shape a more advanced and sustainable future for Egypt’s non-banking financial sector. The Authority encourages all interested individuals to contribute their research and ideas to this competition.