Salah Shehata

Egyptian Financial Supervisory Authority

"The Egyptian Financial Supervisory Authority is a public Authority, having a legal status, established in accordance to law 10 of the year 2009. The Authority shall be responsible for the supervision of non-bank financial markets and instruments, including the Capital Market, the Exchange, all activities related to Insurance Services, Mortgage Finance, Financial Leasing, Factoring and Securitization. The objective is to ensure market stability as well as to regulate the concerned activities, and maximize their competitiveness to attract more local and foreign investments. The mandate of the Authority also includes limiting inconsistency risks and addressing problems arising from applying different supervisory rules. The Egyptian Financial Supervisory Authority shall replace the Egyptian Insurance Supervisory Authority, the Capital Market Authority, and the Mortgage Finance Authority in application of the provisions of the supervision and regulation of Insurance law no. 10 of 1981, the Capital Market law no. 95 of 1992, the Depository and Central registry law no. 93 of 2000, the Mortgage Finance law no. 148 of 2001, as well as other related laws and decrees that are part of the mandates of the above authorities. The Authority shall be considered the concerned administrative body entitled to apply the Financial Leasing provisions promulgated by law no. 95 of 1995." (Copied from the website)