Reda Abdel Moati appointed acting EFSA chairman
Counselor Reda Abdel Moati
Cairo - Egypt Today
Counselor Reda Abdel Moati, the vice chairman of the Egyptian Financial Supervisory Authority (EFSA), will be the authority's acting chairman till the appointment of a new chairman.
Speaking at the ringing of the bell for the trading session' opening on Monday at the Egyptian Exchange (EGX), Investment and International Cooperation Minister Sahar Nasr said that the parliament should approve Prime Minister Sherif Ismail's decision on appointing one of the nominees as a new EFSA chairman.
Amendments to financial leasing and factoring laws that were proposed by former EFSA chairman Sherif Sami will be discussed during the cabinet meeting on Wednesday, Nasr added.
EFSA is an integrated government agency that regulates the financial service industry in Egypt.
The agency supervises all non-banking financial transactions and markets including capital markets, derivative markets, commodities, insurance, mortgage finance, financial leasing, factoring and securitization.
Source: Mena
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