الهيئة العامة للرقابة المالية

• • The meeting discussed cooperation and expertise exchange to boost the Egyptian Capital Market’s efficiency and competitiveness.

  Dr. Mohamed Farid – FRA Chairman:

  The regulatory framework for Short Selling and Market Making mechanisms will be issued by the end of the year.

FRA Chairman Dr. Mohamed Farid met with Citi Bank delegation, including Reto Faber -EMEA Head of Securities Services and Amr Sonbol – Head of Securities Services for Egypt, North Africa & Pakistan – to discuss the ongoing development, efficiency and investment attractiveness of the Egyptian Capital Market.

Dr. Farid confirmed FRA’s commitment to finalize the Capital Market development steps by year-end. This includes issuing crucial regulatory decisions for both Short Selling and Market Maker mechanisms. The goal is clear: increase liquidity, boost market efficiency and improve pricing mechanisms aligning with FRA’s mandate to foster market growth and effectiveness.

FRA Chairman outlined that the strategy prioritizes improving market quality through greater transparency and discipline, alongside raising operational trading efficiency. Ultimately, the objective is to motivate broader citizen participation in the Stock Exchange to leverage Egypt’s prevailing economic expansion.

Additionally, Dr. Farid highlighted the integrated strategy to reform and develop the Egyptian Capital Market, aiming to elevate its efficiency and competitiveness.  He added that the market’s enhanced role is to support economic and social development by offering diversified financing and investment tools for productive sector entities. Furthermore, the strategy includes enabling citizens to invest through diverse solutions, thereby encouraging the savings and investment essential for comprehensive and sustainable economic growth. Also, he stressed that digitalization remains a core focus to facilitate citizen access to these vital services.

Dr. Farid explained that these reforms have successfully enabled new groups – particularly youth and entrepreneurs – to easily and safely access non-banking financial services. This significant step enhances financial inclusion and fortifies the national economy against global challenges.

The meeting reviewed the outcomes of the digitalization plan, citing the sharp growth in coded investors on the Egyptian Stock Exchange after FinTech was introduced in the coding processes, alongside a corresponding increase in daily trading volumes and values.

During the meeting, the two sides discussed areas of joint cooperation in various fields related to market development, along with ways to benefit from international expertise in supporting and developing the regulatory and operational infrastructure of the Egyptian market.

Citi Bank delegation commended FRA’s tangible regulatory and reformative progress in the Egyptian Capital Market. They affirmed Citi’s commitment to strengthen partnerships with Egyptian institutions and support foreign investment attraction, underscoring strong international belief in the ongoing strength and development of the Egyptian Capital Market.