Cabinet approves bill on independence, regulation of FRA

CAIRO - 14 February 2019: The cabinet approved during its weekly meeting on Wednesday a bill on the independence and management system of the Financial Regulatory Authority (FRA).

The bill falls within the framework of realizing financial and administrative independence of the authority.

Under the bill, the authority will present an annual report on its efforts and activities in addition to analysis of the non-banking capital markets and monitoring and regulatory measures.

The report will be presented to the president, the parliament speaker and the premier.

The bill regulates also the appointment of the authority's chairman and board members.