Financial Regulatory Authority FRA
Sherry Bishara serves as Chief Executive Officer at Magnet since January 2024 and holds the position of Group Chief People & Corporate Sustainability Officer at Beltone Financial since November 2022. Additionally, Sherry is a Committee Member in the FRA Board Quality Committee, focusing on women empowerment initiatives since December 2021, and has been the Board Treasurer for Raie Misr Foundation for Development since September 2009. Previously, Sherry worked as Group HR Director and Executive Committee Member at Suez Cement – HeidelbergCement Group, where key HR strategies were implemented during a major acquisition from 2015 to 2022. Sherry also served as Director of Human Resources at Orascom Construction Industries from 1998 to 2015 and began a career in HR management at National Investment Company in 1995. Sherry holds an MBA from Paris ESLSCA Business School and a Bachelor of Commerce from Helwan University Cairo.
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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