Egypt’s President Abdel Fattah Al-Sisi decided Monday to extend the tenure of Mohamed Farid as acting chairperson of the Financial Regulatory Authority (FRA) for one more year, as of 7 August 2023.
Farid is a member of the Supreme Investment Council headed by the President of the Republic, and a member of the Board of Directors of the Central Bank of Egypt.
Farid also occupies the position of Chairperson of the Egyptian Accounting Standards Committee and the Egyptian Standards for Auditing, Limited Examination and other assurance tasks according to the decision of the Prime Minister.
Farid is also Vice President of the International Organization of Financial Markets Regulatory Authorities (IOSCO), Chairperson of the Developing and Emerging Markets Committee (GEMC) (the organization’s largest committee in terms of number and geographical distribution of members), Chairperson of the Promoting Good Practices Working Group emanating from the Finance Committee The Sustainable Finance Taskforce and the membership of the Finance and Review Committee emanating from the Board of Directors.
He has led the Egyptian Exchange since August 2017 in accordance with Prime Minister’s Resolution No. 1759/2017. He also held the position of President of the Eurasian Federation of Stock Exchanges by election, a member of the Board of Directors of the Federation of African Exchanges, a member of the Board of Directors of the Federation of Arab Capital Markets, then President of the Federation of Arab Capital Markets during the period from April 2019 to April 2021.
From 2013 to 2016, Farid held the position of Consultant for Financial Leasing and Venture Capital Affairs at the World Bank-Egypt. He was also a member of the Capital Market Advisory Committee established by the Egyptian Financial Supervisory Authority. He also held the position of Vice Chairperson of the Egyptian Exchange in 2010- 2011.
Farid had obtained a Ph.D. in the field of “Finance Economics” from Cardiff Metropolitan University, in the United Kingdom.
He holds a MSc. Quantitative Finance – Cass Business School – University of London, UK.
He also obtained a Master of Science degree in economics, specializing in project analysis, investment and financing (MSc. Project Analysis, Finance & Investment) – from York University – United Kingdom.
He also obtained a Master’s degree in Business Administration, majoring in Banking and Finance (MBA Finance & Banking) from the Arab Academy for Science, Technology and Maritime Transport in Egypt.
Farid obtained a certificate in the specialized program for investing in the venture capital system (Venture Capital Program) – UC Berkley – USA, and a certificate in the specialized program for investing in economics and analysis – (Econometrics Summer School) – University of Cambridge – United Kingdom.
Farid holds a BA in Foreign Trade and Economics from Helwan University.
He also served as a lecturer in financial markets, international finance, and financial derivatives at the American University in Egypt (AUC) and at the Arab Academy for Science, Technology, and Maritime Transport (AAST). Farid was Chairman and Managing Director of Dcode EFC, a leading company in The field of economic consulting in Egypt.
