Arab Finance: The Financial Regulatory Authority (FRA) and the Central Agency for Public Mobilization and Statistics (CAPMAS) have signed the first-of-its-kind cooperation protocol to establish a framework for exchanging and making available data and statistical indicators related to the insurance and securities brokerage sectors, as per a statement.
Under the agreement, statistical data from insurance, reinsurance, and securities brokerage companies regulated by the FRA will be made available to CAPMAS, helping provide updated indicators and information for the preparation of economic and social reports and supporting the formulation of public policies.
The move is aimed at supporting evidence-based economic policymaking and enhancing market transparency.
The FRA's Chairman Islam Azzam said that data and statistics are a key driver of economic policies, noting that transparency and the availability of information play an important role in attracting investment, particularly in emerging markets, while helping build confidence and reduce risks.
He added that the FRA continues to require companies operating across capital markets, insurance, and non-banking financial activities to register data through electronic platforms while expanding the technological infrastructure needed to integrate sector databases with the authority’s systems.
The regulator is also working to deepen this integration and utilize advanced technologies to improve data analysis and accelerate the indicators extraction, he noted.
For his part, Head of CAPMAS Akram El-Gohary stressed that the protocol is an important strategic step toward strengthening institutional integration among entities responsible for data production and analysis, pointing out that CAPMAS is dedicating its technical and technological capabilities to producing accurate statistics and supporting decision-making processes.
He highlighted that the agreement would support non-banking financial activities, a key component of the national economy, through the provision of reliable data that can improve the efficiency of economic and regulatory policies and enhance transparency across financial markets.
El-Gohary also asserted the importance of ensuring that CAPMAS reports, including those related to the economic census and financial activities, remain aligned with technological developments and reflect changes in market conditions while maintaining data security and confidentiality requirements.
According to the two entities, the protocol is expected to improve data quality and the efficiency of statistical work by reducing duplicate data requests directed to companies and easing administrative burdens, contributing to more effective use of resources and a stronger national data collection and analysis system.
The agreement also reflects ongoing efforts to promote data-driven governance and strengthen the country's information infrastructure, enabling policymakers to better assess the performance of economic sectors, monitor growth trends, and support sustainable development objectives.
Both parties affirmed their commitment to implementing the protocol in accordance with the highest standards of accuracy, confidentiality, and data protection to maximize the value of statistical data and indicators in supporting the national economy.
