The Egypt Financial Regulatory Authority held a series of high-level bilateral meetings in Riyadh with senior Saudi financial market and accountancy leaders on strengthening regulatory cooperation, supporting financial innovation, and aligning professional and sustainability standards across the region. Chairman Mohamed Farid met with the leadership of Tadawul Group, the Saudi Organization for Chartered and Professional Accountants (SOCPA), and the Saudi Capital Market Authority. Discussions covered Egypt’s ongoing work to develop its derivatives market and activate securities lending and market-maker mechanisms to improve market liquidity, as well as opportunities for closer alignment on licensing, supervision, and investor protection. A further focus was sustainability accounting, audit, and disclosure, including alignment with international frameworks such as International Financial Reporting Standards (IFRS), the International Federation of Accountants (IFAC), and UNCTAD-ISAR, alongside joint capacity-building initiatives, advancement of environmental, social and governance (ESG) disclosure standards, and priorities such as green finance and carbon market development, including coordination within the International Organization of Securities Commissions (IOSCO).
Egypt Financial Regulatory Authority 2025-10-05
Egypt Financial Regulatory Authority holds Riyadh talks with Saudi counterparts to deepen regulatory alignment and sustainability reporting cooperation
The Egypt Financial Regulatory Authority held high-level meetings in Riyadh with Saudi financial leaders to enhance regulatory cooperation and support financial innovation. Discussions included developing Egypt's derivatives market, securities lending, and market-maker mechanisms, as well as aligning licensing, supervision, and investor protection standards. The meetings also focused on sustainability accounting and ESG disclosure standards, emphasizing international frameworks and green finance initiatives.