The Minister of
Investment and International Cooperation Dr. Sahar Nasr stated that Prime
Minister Eng. Sheriff Ismael issued Decree No. 2125 of 2017 appointing
Chancellor Khaled Al-Nashar as Vice-Chairman of the Egyptian Financial
Supervisory Authority (EFSA)...
within the framework of the government’s keenness
on completing the infrastructure and organizational structure of all
institutions and supervisory and financial authorities.
The Minister indicated
that EFSA was developing an integrated strategy for the non-banking financial
instruments in a manner that would enhance the non-banking financial sector’s
role in supporting the Egyptian economy, injecting further investments,
providing necessary funds, increasing economic growth rates and contributing to
the economic reform program adopted by the state.
The Minister added that
EFSA’s infrastructure would be completed through the appointment of its board
of directors next November, noting that EFSA would play an important role in
introducing new financial instruments to the capital market, activating
financial inclusion mechanisms and focusing on all aspects of the non-banking
financial activities.
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