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Madbouly names Islam Azzam as GAFI's expert board member

Updated 5/10/2026 3:21:00 PM
Madbouly names Islam Azzam as GAFI's expert board member

Arab Finance: Prime Minister Mostafa Madbouly issued Decree No. 1432 of 2026, appointing Islam Azzam as an expert board member of the General Authority for Investment and Free Zones (GAFI), replacing Tarek Shoukry, according to the official gazette.

The issued decree highlighted that the appointment is part of the board restructuring following Shoukry's resignation.

Azzam holds the role of the Executive Chairman of the Financial Regulatory Authority (FRA) by presidential decree in March 2026. He previously served as the Chairman of the Egyptian Exchange (EGX) during the second half (H2) of 2025.

He also assumed the position of the FRA’s Vice Chairman from January 2021 to August 2025, during which he supervised the capital market, insurance, and non-banking financial activities sectors.

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