Arab Finance: Egypt, represented by the Chairman of the Financial Regulatory Authority (FRA) Islam Azzam, has secured the chairmanship of the Growth and Emerging Markets Committee (GEMC) at the International Organization of Securities Commissions (IOSCO) for the 2026–2028 term, reinforcing the country’s position within the global financial regulatory landscape, as per a statement.

Azzam will also serve as Vice-Chairman of IOSCO’s Board of Directors over the next two years, in addition to chairing the GEMC. The appointment underscores Egypt’s growing role in shaping regulatory frameworks across emerging and developing capital markets.

The GEMC is the largest within IOSCO, representing more than 75% of its membership. It includes 94 full members and 23 associate members without voting rights, spanning some of the world’s fastest-growing economies, including 10 G20 members.

The committee plays a central role in enhancing the efficiency of securities markets, setting international principles and standards, facilitating cross-border information exchange, and delivering training and technical assistance programs.

The appointment reflects the FRA's ongoing efforts to develop and modernize Egypt’s capital market while aligning regulatory practices with international standards. It also highlights the regulator’s role in advancing financial innovation, driving digital transformation, and expanding the use of sustainable finance tools, contributing to stronger confidence among international institutions in the effectiveness of Egypt’s regulatory framework.

Recently, United Nations Secretary-General António Guterres appointed Egypt's former Minister of International Cooperation Rania Al-Mashat as Executive Secretary of the United Nations Economic and Social Commission for Western Asia (ESCWA), succeeding Rola Dashti.