The Financial Regulatory Authority (FRA) recently held a workshop for economic journalists and media professionals to discuss the latest developments in non-banking financial activities. The workshop aimed to review recent market trends and statistics across capital markets, insurance, and non-banking finance. FRA Chairperson Islam Azzam stressed the importance of the partnership between the authority and media organisations in raising awareness of developments in the activities under its supervision.
FRA Chairperson Islam Azzam highlighted the media's role in informing the public about safe investment options regulated by the FRA and presenting accurate figures and data in their proper context. He emphasised the importance and sensitivity of the media's role in an era characterised by the rapid circulation of information and the spread of rumours on social media. Azzam thanked journalists and media professionals for their efforts to strengthen communication between the FRA and market participants.
The workshop opened with an interactive presentation by Azzam on short selling, which is expected to be introduced on the Egyptian Exchange (EGX) within the next few weeks. He outlined the mechanism's operational details under the new regulatory framework established by FRA Board Decision No. 155 of 2026. Azzam explained the differences between the new framework and previous regulations.
During the workshop's second session, FRA Vice-Chairperson Mohamed El-Sayyad delivered a detailed presentation on the supervisory procedures and regulatory controls applied by the authority. He guided participants through the regulatory process, from company incorporation and licensing to the licensing and registration of professionals. El-Sayyad highlighted the FRA's success in introducing new investment instruments that have generated positive indicators for the Egyptian economy.
The third session focused on the insurance sector, with FRA Vice-Chairperson Tarek Seif reviewing developments since the enactment of Unified Insurance Law No. 155 of 2024. He outlined the authority's efforts to issue supplementary regulatory decisions to implement the law and improve sector performance. Seif stressed the importance of ensuring that insurance products keep pace with citizens' evolving needs.
Mohamed Abdel Aziz, Assistant to the FRA Chairperson, reviewed the authority's financial awareness and literacy initiatives. He emphasised that citizens' awareness and their savings, investment, and consumption decisions are key determinants of the success or failure of public policies. The FRA has introduced a financial literacy curriculum for second-year secondary school students as part of its efforts to promote financial awareness.
The workshop provided a platform for economic journalists and media professionals to engage with FRA officials and gain insights into the latest developments in non-banking financial activities. The FRA's efforts to strengthen communication with the media and promote financial awareness and literacy are expected to contribute to the growth and stability of the Egyptian economy.
Key points
- The FRA organised a workshop for economic journalists to highlight developments in non-banking financial activities.
- The workshop covered topics such as short selling, supervisory procedures, and insurance sector developments.
- The FRA emphasised the importance of financial awareness and literacy in promoting economic progress.
