Egyptian Financial Regulatory Authority sharpens focus on sustainability with UK banking alliance

The London Institute of Banking & Finance (LIBF) and Egypt’s Financial Regulatory Authority (FRA), represented by the Regional Center of Sustainable Finance (RCSF) signed a Memorandum of Understanding (MoU) to promote sustainable financing in the non-banking financial sector in Egypt.

The MoU will see both parties work together to fulfil three specific objectives:

· improve the efficiency of and provide support for Egyptian non-banking financial services markets;

· raise awareness of the culture of sustainable development, sustainable finance and financial sector investment in Egypt; and

· Enhance capacity building for sustainability and financial tools for the green economy and governance in Egypt.

Dr. Islam Azzam, Assistant Chairman of the Financial Regulatory Authority with Kareem Refaay, Managing Director at The London Institute of Banking & Finance, signed the MoU at the FRA headquarters. British Ambassador to Egypt Gareth Bayley attended the prestigious signing ceremony along with other guests from the British Embassy and other stakeholders to the RCSF.