Egyptian President Abdel Fattah El -sisi issued a decision to renew the allocation of Mohamed Farid Saleh, and from Thursday entrusted the work of the Chairman of the Council of Directors of the Financial Superury Authority for a minister. The decision is made to give Farid his fourth term to the head of the commission, and continued his leadership of one of the most important supervisory bodies in the non -banking financial sector in Egypt. Farid was previously held the position as head of the Egyptian Stock Exchange, and he took over the presidency of the financial supervisory authority in 2022. During his work period, a number of initiatives related to the development of the business environment and the organization of non -banking financial activities were announced, as well as procedures related to the promotion of financial supervision and the protection of customers in the market. The role of the Egyptian Financial Supervisory Authority, the General Authority for Financial Supervision in Egypt is currently focusing on the development of four sectors, including digital transformation, not -banking financial activities, the voluntary carbon market and the insurance sector, according to a previous interview with ‘Al Sharq’, and explained that the authority has issued the authority to regulate the use of technology in the financial sector, and Requirements of technological structure and cyber -security. He continued to focus his effort on the development of the insurance sector by introducing the rules of corporate governance and the requirements of financial solvency to meet international standards. Details here: The Head of Egyptian Financial Supervision: We focus on the development of four sectors. The government mainly takes responsibility for organizing financial services in Egypt, such as the money market, financing of rent, poaching and financing for real estate.
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