Head of Financial Control Departs to Sydney to Participate in ISO Meetings

Economy and stock exchange

Mohamed Omran, Chairman of the Financial Supervisory Authority, went to Sydney, Australia to participate in the meetings of the Board of Directors of the International Organization of Securities CommissionsIOSCO), And its Annual Conference, which will be held from May 13 to 17, 2019. It is an important platform for the exchange of ideas and the promotion of cooperation between regulatory bodies from all over the world.

Omran explained that the meetings are scheduled to discuss the current conditions of the international financial markets, the expected risks related to the capital markets during the current period and how to deal with them in addition to discussing some organizational matters of the organization.

Amran said that during the meetings, the Authority will coordinate with developing countries and African countries to cooperate in order to develop and stabilize securities markets, increase their effectiveness and discuss developments in the markets such as Fintech And Regtech Sustainable financing, green financing and other topics.

The agenda of the activities of the Organization of the Islamic Conference includes the participation of the Chairman of the Commission in the meetings of the various committees of the Organization, including the Presidents' Committee, which includes all the heads of the member states of the Organization and the Committee on Developing and Emerging Markets, which is the largest of the Organization's committees in terms of number and geographical distribution of members. Membership of the Board of Directors at the current session 2018-2020.

It is worth mentioning that Egypt won the membership of the Board of Directors of IOSCO – represented by the Financial Supervision Authority – in April 2018 and retained its seat for the third consecutive session (2020-2018) after winning the elections as representative of the Africa and Middle East region AMERC

Amran says that ISO is the most important international organization in setting the rules and rules of the financial markets and the standards that each country seeks to adhere to in order to ensure the fairness, transparency and efficiency of the markets and the management of the risks associated with them.

Its membership includes about 95% of the world's financial markets, represented by about 115 supervisory and supervisory bodies as well as membership of a number of international and regional financial organizations.

Egypt is a signatory to the multilateral memorandum of understanding adopted by the Organization of the Islamic Conference (OIC), which serves as a framework for international cooperation in the exchange of information related to combating securities laws violations, and how to consult, cooperate and exchange information in order to tighten controls on stock markets.

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