Prime Minister Sherif Ismail hailed the Egyptian Financial Supervisory Authority (EFSA) for winning a seat at the board of directors of the International Organization of Securities Commissions (IOSCO) for the upcoming two years.
In statements Wednesday, Ismail said that the winning is considered an appreciation of the EFSA’s role.
This membership gives Egypt an effective role in developing the structure of the financial markets at the international level, he added.
Egypt won a seat allocated for developing markets.
The IOSCO is an association of organizations that regulate the world’s securities and futures markets.
Members are typically the Securities Commission or the main financial regulator from each country.
The IOSCO has members from over 100 different countries, who regulate more than 95 percent of the world’s securities markets.
Source: All Africa