Egypt, represented by Dr. Mohamed Fareed, Chairman of the Financial Supervisory Authority (FRA), won the position of Chairman of the Growth and Emerging Markets Committee (GEMC) of the International Organization of Capital Market Regulatory Authorities (IOSCO) during the period from 2022 to 2024, whose membership includes representatives of the financial markets supervisory bodies in the countries of the world.
The Financial Supervisory Authority (FRA) thus retains the position of Chairman of the Developing and Emerging Markets Committee, thus becoming also the Chairman of the Financial Supervisory Authority as Vice-Chairman of the Board of Directors of the International Organization of Capital Market Regulatory Authorities, for the second time in a row, where the Chairman of the Authority will have two Vice-Presidents in ISCO, namely the Capital Market Authority of the Kingdom of Saudi Arabia and the Capital Market Authority of Turkey.
The position of Chairman of the Committee on Developing and Emerging Markets became vacant after the departure of Dr. Mohamed Omran, the former Chairman of the Authority, to nominate Dr. Farid for the same position and win to keep Egypt this high-level international position for the second time in a row, which confirms the confidence of the international community in Egyptian cadres and leaders to adopt and implement policies to develop and develop capital markets globally.
The Committee on Developing and Emerging Markets is one of the largest committees of IOSCO, the number of its members of securities regulators represents more than 75% of the ordinary members of IOSCO, with 115 members, including 90 members with the right to vote, in addition to 24 non-voting participating members, including the fastest growing economies in the world, and only one member as an observer.
