Egypt Financial Regulatory Authority outlines joint work with the Ministry of Finance to revamp the primary dealers system and consider retail Treasury issuance

The Egypt Financial Regulatory Authority (FRA) reported that its chair, Mohamed Farid, used an investor dialogue in Washington to highlight ongoing coordination with the Ministry of Finance to develop Egypt’s primary dealers system and explore mechanisms for issuing Treasury bonds and Treasury bills to individuals, aimed at broadening participation in the local debt market. The discussion, organised by Jefferies and HSBC on the sidelines of the International Monetary Fund and World Bank annual meetings and attended alongside the Minister of Planning, Economic Development and International Cooperation and the Minister of Finance, also set out the FRA’s focus for the non-banking financial sector on updating legislative and regulatory frameworks, strengthening governance, disclosure and transparency, and using more advanced supervisory tools to protect market participants and support financial stability. Farid also framed digital transformation as a key enabler of safer digital delivery of financial services, improved data quality and supervisory effectiveness, and the development of innovative products that support financial inclusion, alongside continued benchmarking against international regulatory and supervisory practices.