Egypt Financial Regulatory Authority chairmanship renewed as Mohamed Farid is reappointed for a fourth one-year term from 7 August 2025

Egypt’s President Abdel Fattah El-Sisi has renewed Dr Mohamed Farid Saleh’s assignment to act as Chairman of the Board of the Egypt Financial Regulatory Authority for one year at ministerial rank, effective 7 August 2025, starting his fourth term leading the authority. The statement notes he was previously assigned for one year from 7 August 2024 under an earlier presidential decision. The release highlights Farid’s concurrent roles, including membership of the Board of the Central Bank of Egypt, chairing Egyptian accounting and auditing standards committees, and serving as vice-chair of the International Organization of Securities Commissions and chair of its Growth and Emerging Markets Committee. It also recaps initiatives pursued during his tenure, including the rollout of a fintech digitisation framework and the authority’s regulatory sandbox (with 70 firms beginning digital transformation and 120,000 digital verification operations completed), insurance reforms including raising minimum insurers’ capital to EGP 600m in two phases, development of a regulated voluntary carbon market (six carbon credit registries approved, four verification bodies listed, 28 projects registered and five trades executed for more than 2,000 credits), new rules for special purpose acquisition companies (two approved and listed), enhanced protections for minority shareholders in voluntary delistings, and the launch of gold investment funds with net assets of EGP 2.5bn and 222,000 client accounts as of July 2025.