Business Hub – Cairo:
The Prime Minister meets Dr. Mohamed Farid, Chairman of the Board of Directors of the Financial Regulatory Authority, to review development plans
Dr. Mostafa Madbouly, Prime Minister,met today Sunday Dr. Mohamed Farid Saleh, This came after the issuance of the decision of President Abdel Fattah El-Sisi, President of the Republic, Assigning him as Acting Chairman of the Board of Directors of the Financial Supervisory Authority, To review the Authority’s plans for the coming period.
Madbouly: The government attaches great importance to supporting all sectors that drive and support the growth of the Egyptian economy, at the heart of which is the non-bank financial sector
at the outset of the meeting, The Prime Minister said that the government attaches great importance to supporting all sectors that drive and support the growth of the Egyptian economy. At the heart of it is the non-banking financial sector, which comes among the priorities of the government’s work.
Farid: A comprehensive strategy to develop all activities that comprise the non-banking financial sector to support the growth of the Egyptian economy in coordination with the various relevant parties
On his part, Dr. Mohamed Farid said, Chairman of the Financial Supervisory Authority, The coming period will witness the development and implementation of a comprehensive business strategy that extends to all activities of the non-banking financial sector, starting with the capital market activity. Through financial leasing and real estate financing, insurance, consumer finance, microfinance and factoring, In coordination with the various relevant parties.
Farid explained that the coming period will witness work on developing the registration rules to enable the largest number of serious companies to register and offer, following the formation of the Board of Directors of the Financial Supervisory Authority. As well as working on the development of insurance products and speed of decision on them, especially insurance products related to real estate financing.
He pointed out that the venture capital activity will be developed to support emerging companies in obtaining the necessary financing to develop their activities and increase the volume of their business. Along with expediting the establishment and activation of derivatives markets to enable dealers to hedge against the risks of price fluctuations, As well as studying the possibility of increasing the inter-Arab investment component through intensive cooperation between the Arab capital markets and introducing all the required amendments in this regard. With the completion of serious work on the development and development of institutional investment rates in the stock market.