الهيئة العامة للرقابة المالية

FRA Chairman Receives New EGX Chairman – Wednesday 22 April 2026

• FRA Chairman congratulates new EGX Chairman, stressing on strategic coordination for Capital Market growth.

Dr. Islam Azzam, FRA  Chairman received Mr. Omar Radwan, the new Chairman of the Egyptian Exchange (EGX), following his appointment today by Prime Minister Dr. Mostafa Madbouly.

Several leaders attended the meeting from both FRA and EGX. Dr. Islam Azzam extended his congratulations to the new EGX Chairman, wishing him success in his new responsibilities.

FRA Chairman pointed out the importance of the upcoming phase witnessing increased cooperation to support Capital Market development plans and to enhance efficiency and competitiveness across various related sectors.

Dr. Islam Azzam emphasized a dual commitment to market stability and investor protection. He highlighted the strategic priority of launching new financial instruments and products designed to stimulate trading volume and enhance Capital Market’s competitive performance.

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Financial Regulatory Authority and Arab Academy Partner to Drive Investment in Human Capital – Saturday 18 April 2026

• Supporting national financial inclusion and digital transformation goals under Egypt Vision 2030.
• Forming a joint committee to execute and scale the partnership.

Dr. Islam Azzam, FRA Chairman and Dr. Mostafa Hodeib , President of the Arab Academy for Management, Banking and Financial Sciences (AAMBFS), witnessed the signing of a strategic cooperation protocol. The agreement establishes a framework to provide specialized postgraduate programs for FRA staff and employees of affiliated companies. This initiative is a cornerstone of FRA’s broader strategy to enhance professional competencies and elevate the operational efficiency of the Non-Banking Financial Sector (NBFS).

Dr. Mohamed Abdel Aziz, Assistant to FRA Chairman and Dr. Amr El-Nahas, Vice President of the Academy formally signed the protocol.

This collaboration underscores a national priority: investing in human capital to spearhead sustainable growth. It stands in direct alignment with Egypt Vision 2030, reinforcing the State’s objectives to accelerate digital transformation, expand financial inclusion, and optimize organizational efficiency across the sector.

The protocol creates a vital synergy between FRA’s regulatory and supervisory mandate – as the governing body for non-banking financial markets- and the academic excellence of the Arab Academy. This integration ensures that the next generation of financial professionals is equipped with both theoretical depth and the practical expertise.

Dr. Islam Azzam underscored that human capital investment is a vital cornerstone for the sustainability and resilience of the non-banking financial sector. He reaffirmed FRA’s dedication to offer cutting-edge educational and vocational programs that meet international standards, ensuring the cultivation of a talent pool equipped to spearhead institutional development.

He further noted that the protocol facilitates access to premier postgraduate tracks, specifically MBA programs in Arabic and English as well as Professional Doctorates (DBA). These initiatives are tailored to reinforce the sector’s leadership capabilities, specifically within the critical frameworks of governance and risk management.

Additionally, the protocol includes providing partial cholarships to encourage employees to pursue their postgraduate studies, alongside flexible payment systems that help ease financial burdens, thereby supporting career advancement opportunities for those working in the sector.

Dr. Mostafa Hodeib, President of the Academy, stated that this collaboration reflects the Academy’s mission to empower national institutions through tailored educational solutions. He stressed that human development remains the essential pillar for achieving long-term sustainable development goals.

On the other hand, Dr. Mohamed Abdel Aziz highlighted that this protocol is a definitive step toward bridging the gap between academic theory and professional application. By doing so, it empowers employees to tackle the dynamic challenges of modern financial markets while cultivating a more robust internal environment for non-banking financial institutions.

The protocol mandates the establishment of a joint steering committee to follow the implementation of the agreement. This committee will be responsible for drafting operational plans, expanding training and capacity-building initiatives, and mitigating any potential obstacles to ensure a seamless execution.

The protocol is set for an initial two-year renewable term. This timeframe allows both parties to scale the scope of cooperation and maximize the long-term impact on human resource development across non-banking financial sector.

Prime Minister’s Decree: Dr. Islam Azzam Joins the Economic Ministerial Group – Thursday 16 April 2026

Prime Minister Dr. Mostafa Madbouly has issued Decree No. 1013 of 2026, defining the composition and mandates of the Economic Ministerial Group. Under the Decree, the Group is chaired by the Prime Minister and comprises Deputy Prime Minister for Economic Affairs, Governor of the Central Bank of Egypt, Ministers of Finance, Supply and Internal Trade, Investment and Foreign Trade, Planning and Economic Development, and Industry, alongside Chairman of the Financial Regulatory Authority (FRA).

The Decree mandates weekly meetings for the Economic Ministerial Group, with the flexibility to convene as circumstances dictate. Additionally, the Group may call upon specialized experts to contribute to its sessions as necessary.

The appointment of Dr. Islam Azzam to the Economic Ministerial Group underscores his extensive and multifaceted expertise in financial regulation. Dr. Islam was appointed Chairman of the Financial Regulatory Authority (FRA) in March 2026, pursuant to Presidential Decree No. 116 of 2026. His distinguished career includes serving as Chairman of the Egyptian Exchange (EGX) in late 2025, following a successful four-year tenure as FRA Vice Chairman from 2021 to August 2025, where he oversaw the capital markets, insurance, and non-banking financial services sectors.

Dr. Islam’s career includes several high-level leadership roles, notably serving as Advisor to the Chairman of the Mortgage Finance Authority (2007–2009) and Assistant to the Chairman of the Capital Market Authority (2003–2005). He also served as Managing Director of Bedaya SME Fund.

He has held board seats at several prominent financial and economic institutions, including the Board of Trustees of the Money Laundering and Terrorist Financing Combating Unit (MLCU), the Board of the Egyptian Arab Land Bank, and the Egyptian Center for Arbitration and Settlement of Non-Banking Financial Disputes. Additionally, he has served on the boards of major corporations, including Misr Insurance Holding Company, Dakahlia Sugar, Egyptian Resorts Company (ERC) and Al Shams Housing and Development.

In the academic sphere, Dr. Azzam led the Graduate Finance Department at the American University in Cairo (2005 – 2021). His international academic footprint includes engagements with the London School of Economics (LSE), the University of California, Irvine (UCI), and Stellenbosch University, South Africa. Additionally, he has held faculty roles at Cairo University and the Arab Academy for Science, Technology and Maritime Transport (AASTMT).

Dr. Islam earned his Ph.D. in Economics from the University of California, Irvine in 2003, specializing in Econometrics, Economic Forecasting, and Monetary Policy. His academic credentials also include a Diploma in Mortgage Finance from the University of Pennsylvania, an M.A. in Economics from UC Irvine, an M.A. in Economics from AUC, and a B.Sc. in Economics from Cairo University (1993).

The Financial Regulatory Authority is the statutory body responsible for the regulation and supervision of Egypt’s non-banking financial markets and instruments. FRA was established to consolidate three former regulatory bodies: the Egyptian Insurance Supervisory Authority, the Capital Market Authority, and the Mortgage Finance Authority. Its regulatory scope also extends to pivotal sectors including leasing, factoring.