Financial Regulatory Authority FRA
Magdy Khallaf is a highly experienced IT professional in the financial sector, currently serving as the Head of the Information Services Sector for Technical Affairs and General Manager of Vertical Business Application Services at the Financial Regulatory Authority (FRA) since March 2019. With a career spanning over two decades, Magdy has held various significant positions, including Senior Financial Technology Inspector at the Securities and Commodities Authority and Senior Systems Engineer at FRA. Magdy’s expertise includes supervising technical audits of financial intermediaries, developing technical standards, and managing the integration of databases post-merger. Additionally, Magdy has contributed to Oracle development training and implemented various trading and settlement systems. Magdy holds a Bachelor's degree in Computer Engineering from the Faculty of Engineering at Benha.
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Financial Regulatory Authority FRA
The Financial Regulatory Authority is a public Authority, having a legal status, established in accordance to law 10 of the year 2009. The Authority is responsible for supervising and regulating non-banking financial markets and instruments, including the Capital Market, the Exchange, all activities related to Insurance Services, Mortgage Finance, Financial Leasing, Factoring and Securitization. FRA's role is to regulate the market and ensure its stability and competitiveness to attract more local and foreign investments " The mandate of the Authority also includes limiting inconsistency risks and addressing problems arising from applying different supervisory rules". The Financial Regulatory Authority is replace the Egyptian Insurance Supervisory Authority, the Capital Market Authority, and the Mortgage Finance Authority in application of the provisions of the supervision and regulation of Insurance law no. 10 of 1981, the Capital Market law no. 95 of 1992, the Depository and Central registry law no. 93 of 2000, the Mortgage Finance law no. 148 of 2001, as well as other related laws and decrees that are part of the mandates of the above authorities. FRA is also the admin authority for companies established under the provisions of law of financial leasing issued by law no.95 for year 1995