Egypt Financial Regulatory Authority to be led by former vice chair Islam Azam as acting chairperson

The Egypt Financial Regulatory Authority announced that the President has issued Decision No. 116 of 2026 assigning Dr Islam Azam to serve as acting chairperson of the authority. Azam becomes the sixth person to lead the regulator since its establishment under Law No. 10 of 2009, which created the body responsible for supervising Egypt’s non-bank financial markets and activities. Azam previously served as chairperson of the Egyptian Exchange in the second half of 2025, after holding the post of deputy chairperson of the Egypt Financial Regulatory Authority from January 2021 to August 2025, where he oversaw the capital market, insurance and non-bank financial activities. During his time at the authority, he contributed to the regulatory framework for insurance following the Unified Insurance Law No. 155 of 2024, including work on higher minimum capital requirements for insurance companies, updated investment rules for insurers and private insurance funds, and solvency margin rules. He also contributed to executive decisions for non-bank finance activities, including minimum capital requirements for non-bank finance companies and the application of Basel III rules, and announced the launch of the first phase of the derivatives market with futures trading.