logo
Egypt to host IOSCO's 2026 annual conference for first time

Egypt to host IOSCO's 2026 annual conference for first time

In a landmark achievement, Egypt—represented by the Financial Regulatory Authority (FRA)—has secured the bid to host the 51st Annual Conference of the International Organization of Securities Commissions (IOSCO) in 2026. This marks the first time in the country's history that it will host this prestigious global event, underscoring international recognition of Egypt's regulatory progress in non-banking financial markets, particularly in the capital markets sector.
The announcement was made during IOSCO's 2025 annual meeting in Doha, Qatar, following a competitive selection process. Egypt's successful bid is the result of sustained efforts by the FRA to enhance the efficiency, transparency, and competitiveness of its capital markets, reinforcing international trust in the country's regulatory and supervisory framework.
Set to take place in the city of Sharm El-Sheikh, the conference will serve as a premier global platform for high-level dialogue. It will bring together policymakers, financial regulators, and capital market leaders from around the world to address pressing issues in global financial markets and explore strategies to promote financial stability and sustainable economic growth.
Hosting the IOSCO Annual Conference is a testament to the FRA's leadership in reforming the legislative and regulatory landscape of Egypt's financial sector. Key advancements include improving the investment climate, fostering transparency, embracing digital transformation, and promoting sustainable finance—efforts aligned with international best practices and standards.
FRA Chairperson Mohamed Farid emphasized that Egypt's selection reflects global recognition of its reform trajectory and offers a unique opportunity to showcase the country's progress to the international financial community. He highlighted the conference as a strategic avenue for forging new partnerships that support emerging markets.
To maximize the conference's impact, the FRA has extended invitations to local and international regulatory bodies, financial institutions, experts, and academics. The goal is to make the event a hub for knowledge exchange and international cooperation in capital market development.
During the IOSCO meeting in Doha, the FRA presented a promotional video highlighting the touristic appeal and organizational capabilities of Sharm El-Sheikh, further reinforcing its readiness to host a world-class event.
Farid described Egypt's selection as a vote of confidence by IOSCO members in the FRA's capacity to foster collaboration, support market development, and help member countries adapt to evolving market dynamics. He stressed the importance of integrating innovative technologies and refining market mechanisms to boost market resilience and growth.
He also noted that hosting the IOSCO Annual Conference provides Egypt with a strategic platform to underscore its role as a regional financial hub and to amplify its reform experience on a global stage.
IOSCO is the world's leading body for setting international standards in securities regulation, aimed at ensuring fairness, transparency, efficiency, and effective risk management across financial markets. The organization includes 229 members, representing about 95% of global securities regulators.
Farid currently serves as Vice Chair of IOSCO and Chair of its Emerging Markets Committee.
The IOSCO Annual Conference is one of the most influential global gatherings dedicated to the future of capital markets. It typically features discussions on financial technology, sustainable finance, digital assets, and global financial stability—bringing together a broad range of stakeholders from around the world.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

EGP 283.6bn in total financing provided by regulated entities in Q1 2025: FRA
EGP 283.6bn in total financing provided by regulated entities in Q1 2025: FRA

Daily News Egypt

time6 days ago

  • Daily News Egypt

EGP 283.6bn in total financing provided by regulated entities in Q1 2025: FRA

The Financial Regulatory Authority (FRA) announced that entities under its supervision provided a total of EGP 283.6bn in financing during the first quarter (Q1) of 2025. This includes all regulated non-banking financial activities, such as capital markets, insurance, leasing, and consumer finance. In its quarterly report, the FRA revealed that equity issuances during Q1 totaled EGP 2bn, while issuances of securities other than shares reached EGP 3bn. Leasing contracts were valued at EGP 1bn during the same period. Financing extended to micro, small, and medium enterprises (MSMEs) reached EGP 24.4bn, underscoring the sector's importance in supporting economic growth and job creation. Consumer finance amounted to EGP 17.5bn, and factoring activity—financing through the purchase of accounts receivable—stood at EGP 29.8bn. Mortgage finance also remained strong, recording EGP 11.2bn in value. The FRA noted that the value of disclosures on movable assets registered in Egypt's collateral registry reached EGP 3trn in Q1, reflecting the growing use of movable assets as loan collateral. Meanwhile, the outstanding balances of MSME financing totaled EGP 6bn. In the insurance sector, collected premiums reached EGP 30.3bn in the first three months of the year. Of this, property and liability insurance contributed EGP 17.5bn, while life and fund formation insurance accounted for EGP 12.8bn. Paid compensation by insurers during the same period totaled EGP 13.7bn—EGP 6.6bn for property and liability insurance, and EGP 7.1bn for life and fund formation policies. Private insurance fund investments reached EGP 6.5bn during Q1, indicating solid growth in long-term savings and retirement-related instruments. The FRA clarified that property and liability insurance includes coverage against risks such as fire, theft, and damage to physical assets, including homes, vehicles, and commercial goods. Life and fund formation insurance comprises life coverage, personal accident insurance, and savings-based policies that help individuals plan for future financial needs. The authority's report reflects the continued development of Egypt's non-banking financial services sector, a key pillar in the country's economic diversification and financial inclusion strategies.

Non-banking finance for MSMEs rises to EGP 84.6bn in March, marking EGP 21.8bn annual growth
Non-banking finance for MSMEs rises to EGP 84.6bn in March, marking EGP 21.8bn annual growth

Daily News Egypt

time6 days ago

  • Daily News Egypt

Non-banking finance for MSMEs rises to EGP 84.6bn in March, marking EGP 21.8bn annual growth

The Financial Regulatory Authority (FRA) announced that the total volume of non-banking finance extended to micro, small, and medium enterprises (MSMEs) rose to EGP 84.579bn in March 2025, up from EGP 62.800bn in March 2024. This represents an annual increase of EGP 21.779bn. According to the FRA's latest report, this financing supported around 3.714 million clients, compared to 3.826 million a year earlier. Microenterprise finance accounted for the bulk of this growth, reaching EGP 65.796bn, up from EGP 54.811bn. Meanwhile, financing for small and medium-sized enterprises also saw significant growth, more than doubling from EGP 7.989bn to EGP 18.782bn over the same period. Leasing Activity In the leasing sector, activity expanded sharply in the first quarter of 2025. The total value of leasing contracts reached EGP 42.121bn, compared to EGP 23.420bn in the same quarter of 2024, marking a 79.8% increase. The number of contracts rose to 603 from 460. The FRA noted that the real estate and land sector dominated leasing activity, accounting for more than 72% of the total value. This was followed by leasing in transport vehicles, machinery and equipment, passenger cars, and production lines. Consumer Finance Consumer finance also experienced robust growth. In Q1 2025, companies operating in the sector provided EGP 17.465bn in financing to approximately 2.319 million clients, up from EGP 12.072bn in loans to 804,800 clients during the same quarter of 2024. This reflects a 44.7% increase in the value of financing and a 188.2% surge in the number of clients. The report noted that the automotive sector received the largest share of consumer finance, followed by electronics and electrical appliances, household appliances, and consumer goods purchased via finance cards. Additional spending categories included home finishing materials, clothing, accessories, and personal items such as watches and eyewear. Mortgage Finance Mortgage finance was another area of rapid growth. The total financing granted by companies operating in the sector reached EGP 11.183bn in Q1 2025, up from EGP 5.318bn a year earlier—an increase of 110.3%. The number of mortgage contracts rose to 4,838 from 3,019. Of these, 146 contracts were signed with individual clients and amounted to EGP 1.982bn. The remainder represented purchased portfolios benefiting 4,692 clients with a total value of EGP 9.201bn. Notably, nearly all the beneficiaries—4,833 clients—belonged to the income bracket above EGP 3,500. Movable Collateral Registry In a separate update, the FRA reported continued expansion of Egypt's Movable Collateral Registry. In March 2025, the total value of registered claims reached EGP 3.292trn, up from EGP 2.550trn a year earlier—an increase of EGP 742bn, or 29%. The number of registered claims grew to approximately 212,000, up from 168,000 entries in March 2024, marking a 26.5% rise. The Movable Collateral Registry is a central electronic platform that enables lenders to register, update, and remove security rights over movable assets. Egypt is one of the first Arab nations to establish legislation regulating this type of collateral. The FRA noted that banks accounted for 97.2% of the total value of registered claims. In terms of claim volume, banks held the largest share at 81.6%, followed by consumer finance companies, retail firms, and leasing companies.

16 FinTech firms licensed, leading digital transformation in non-banking sector: Egypt's FRA
16 FinTech firms licensed, leading digital transformation in non-banking sector: Egypt's FRA

Daily News Egypt

time27-05-2025

  • Daily News Egypt

16 FinTech firms licensed, leading digital transformation in non-banking sector: Egypt's FRA

Sixteen companies have obtained financial technology (FinTech) licences from Egypt's Financial Regulatory Authority (FRA) and are spearheading digital transformation efforts in the non-banking sector, its chairperson Mohamed Farid said on Monday. Four companies currently offer outsourcing services and are registered with the authority, with new entrants anticipated, Farid stated. Speaking at the fourth edition of Caisec25, an information security and cybersecurity conference and exhibition in Cairo, Farid said that approximately 110 institutions and entities currently comply with the FRA's cybersecurity requirements. He noted, however, that the total number of companies and institutions under the FRA's supervision across various activities and markets exceeds 3,500. Farid added that four companies currently provide outsourcing services, with significant potential for this number to grow into the dozens. 'These companies are listed in a special FRA registry and conduct electronic identification, verification, and authentication; electronic customer identification; electronic contracting for non-banking financial products; and electronic registration, storage, and retrieval from digital records,' he detailed. In his conference address, Farid outlined the FRA's ongoing efforts to foster a secure and stable environment that strengthens the non-banking financial sector's contribution to the national economy. This is part of its continuous endeavour to implement all necessary measures and policies to protect customer data and ensure market stability. 'The Authority, as the regulator of the non-banking financial sector—which encompasses the capital market, insurance activities, and non-banking financing activities—places significant importance on cybersecurity,' Farid stated. 'This involves developing policies and systems to protect customer data, thereby ensuring market stability, a key role for any financial sector regulator.' He emphasised that the FRA is working to create a secure data environment and stable markets for non-banking financial institutions, aiming to bolster the non-banking financial sector's role in the national economy. Farid added that the regulatory framework established by the FRA primarily recognises that 'cyberattacks and database breaches have become the new battleground.' Therefore, enhancing cybersecurity measures is crucial, 'especially given the accelerating pace of digital transformation across all sectors, which, while creating new opportunities, also generates increased cyber threats,' he said. He explained that this 'necessitates swift action to develop policies and operational systems that strengthen FinTech governance and ensure non-banking financial institutions utilise these technologies in a manner that promotes market stability.' The FRA chairperson noted the 'rapid and revolutionary pace of development in artificial intelligence (AI),' stressing the importance of enhancing the recovery capabilities of institutions and markets, particularly as development inherently involves risks. He advocated for increased preparedness to ensure 'a resilient non-banking financial sector capable of leveraging technological advancements and managing associated risks more efficiently and effectively.' Farid also highlighted that 'technological capability development must go hand-in-hand with enhancing human resource efficiency to achieve desired objectives and bridge information gaps.' He explained that 'the human element remains paramount in corporate business models,' and consequently, 'specialists in electronic and cybersecurity technologies and innovations must focus on providing extensive, varied, and continuous training for personnel.' The FRA chairperson affirmed that such training has become essential following the recent acceleration in the digitisation of non-banking financial transactions. This acceleration was spurred by the FRA's issuance of a package of executive decisions to implement Law No. 5 of 2022, which provides the regulatory and legislative framework for organising and promoting the use of technology in non-banking financial activities and services. He continued: 'The Financial Regulatory Authority issued Decision No. 139 of 2023 concerning the technological equipment, infrastructure, information systems, and protection and security measures necessary for using FinTech to conduct non-banking financial activities. This was followed by Decision No. 140 of 2023, regarding digital identity, digital contracts, digital registries, and the scope of FinTech use in non-banking financial activities, along with compliance requirements. This latter decision is considered the first regulatory directive from financial sector supervisory bodies to detail requirements for electronic customer identification. Furthermore, Decision No. 141 of 2023 pertains to the outsourcing registry for FinTech in non-banking financial activities, specifying companies authorised to provide electronic customer identification and contract record services to financial firms in the sector.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store