الهيئة العامة للرقابة المالية

Mahmoud Gebril Reappointed Assistant to Chairman – Tuesday 8 September 2026

Prime Minister Dr. Moustafa Madbouly has issued Decree No. 2662 of 2026, renewing the appointment of Mr. Mahmoud Gebril as Assistant to Chairman for one-year.

Mr. Gebril has served as Assistant to Chairman since December 2025. His professional career reflects a cumulative and diverse expertise combining regulatory and supervisory experience with practical proficiency in capital markets, investment, and financial product development. He has made notable contributions to developing legislative and regulatory frameworks and introducing new financial tools that support the growth and competitiveness of the financial sector.

Throughout his career at FRA, Gebril actively participated in drafting and discussing Law No. 5 of 2022 regulating the use of FinTech in non-banking financial activities, as well as establishing the regulatory framework for Special Purpose Acquisition Companies (SPACs) to support the development of innovative corporate financing tools and enhance capital markets.

Gebril also helped draft and develop provisions for sustainable development bonds under the Capital Market Law’s executive regulations. This effort strengthens the role of capital markets in funding sustainable projects, supports green finance trends, and advances FRA’s strategy to enhance the efficiency and growth of capital markets and non-banking financial services.

Before his current role, Gebril drove growth and competitiveness across several private sector institutions. Most recently, he served as Managing Director and Head of Product Development in Capital Markets at Beltone Financial. Previously, he headed FRA’s Central Department for Corporate Finance, playing a pivotal role in shaping regulatory and legislative frameworks.

Mr. Gebril’s extensive professional background spans many years in capital markets, treasury management, asset and portfolio management, financial investments, product development, and regulatory frameworks. He has held several leadership positions in capital markets and the international dealing room at the Misr Iran Development Bank, held leadership roles in asset and portfolio management at the National Fund for Investment Management (NFIM), and served as Managing Director of Amwal Financial Investments.

He holds a Diploma in Islamic Finance from the International Business School in London, a Diploma in Financial Market Analysis from the Faculty of Economics and Political Science, specialized certifications in Financial Technology from the University of Cambridge, and a Blockchain certificate from Frankfurt School of Finance & Management.

It is worth noting that Prime Minister Decree No. 2662 of 2026 also included the renewal of appointments for Dr. Mohamed Abdel-Aziz and Mr. Hamdy Badawy as Assistants to Chairman for one-year.

Dr. Mohamed Abdel-Aziz Reappointed Assistant to Chairman – Tuesday 8 September 2026

Prime Minister Moustafa Madbouly has renewed Dr. Mohamed Abdel-Aziz’s appointment as Assistant to Chairman for an additional year under Decree No. 2662 of 2026.

Dr. Abdel-Aziz has held the position since August 2022, bringing over 25 years of extensive professional experience in government and institutional sectors. He is widely recognized as a public policy expert in economic, investment, financial, and regulatory domains, with a proven track record in supporting decision-making, formulating policies, overseeing strategic portfolios, enhancing the efficiency of financial markets and institutions and promoting financial literacy.

 Dr. Abdel-Aziz graduated from the Faculty of Economics and Political Science Cairo University in 2001, where he subsequently earned his Master’s degree and Ph.D. in Political Science. He also serves as a visiting professor of Comparative Public Policy.

His distinguished career in public service began at the Ministry of Investment as an economic researcher in the Minister’s office, progressing to Director of the Technical Support and Monitoring Unit, and later Supervisor of the Minister’s Technical Office. He also served at the General Authority for Investment and Free Zones (GAFI) as an economic development expert in the Policies Sector and as Director of Planning and Follow-up Unit.

His prominent roles included serving as an advisor and then assistant to the Minister of International Cooperation between 2015 and 2016, followed by serving as an advisor to the Minister of Investment and International Cooperation from 2016 to 2017. He then transitioned to the Egyptian Exchange (EGX) as an advisor for institutional relations from September 2018 to August 2022.

Since joining the FRA, Dr. Abdel-Aziz has successfully spearheaded several major initiatives. Key achievements include redesigning, developing, and relaunching the Egyptian Movable Collateral Registry, designing and overseeing the implementation of the National Strategy for Financial Literacy, and establishing cooperation protocols with various state entities to advance financial awareness.

In addition to preparing and authoring introductory guides on non-banking financial activities, he coordinated budgets and contractual operations, represented FRA in numerous regional and international forums, and assumed the role of Vice Chairman of the Board of Directors of the Financial Services Institute (FSI)—FRA’s training arm—in January 2024.

Over the past ten years, Dr. Abdel-Aziz has served on the boards of directors of several prominent entities, including the General Authority for Tourism Development, Misr Takaful Insurance, and GAFI. He has also served as Secretary-General and Board of Trustees member for EGX Sustainability Foundation.

Additionally, Decree No. 2662 of 2026 renewed the appointments of Mr. Mahmoud Gebril and Mr. Hamdy Badawy as Assistants to Chairman for one-year.

FRA Chairman Delivers Comprehensive Lecture on Short Selling Mechanism and New Rules – Monday 7 September 2026

Dr. Islam Azzam,  FRA Chairman delivered a comprehensive lecture on short selling mechanism following the release of the updated regulatory framework, paving the way for the full rollout of the newly regulated mechanism on the Egyptian Exchange (EGX) for the first time.

Through a detailed and technical explanation tailored for investors, market specialists and the public, Dr. Azzam highlighted the key characteristics and benefits of short selling, along with its expected positive impact on Egypt’s capital market. He outlined the core obligations of all participating entities, including the lender, borrower, custodian, Misr for Central Clearing, Depository and Registry – MCDR and EGX, while detailing the operational mechanics of the new Central Lending System.

During the session, Dr. Islam Azzam addressed the most frequently asked questions regarding short selling, covering the structure, investment and distribution of financial returns, as well as the fundamental differences between securities lending for short sales and margin trading. He also underscored the advantages of combining both mechanisms on EGX to strengthen price efficiency and boost market liquidity.

Watch the full lecture here