Mr. Oscar Onyema – the President of African Securities Exchanges Association (ASEA) presented the “Person of the Year in the African Capital Markets” Award to Dr. Mohamed Omran, Chairman of the Financial Regulatory Authority and former Chairman of the Egyptian Stock Exchange for his continuous efforts to improve the conditions of the Egyptian Stock Market.
During his participation in the opening session of the 21st African Securities Exchange Association annual conference held in Cairo, FRA’s Chairman noted that non-banking financial regulator has a clear commitment to ensure a sound and stable financial system capable of reducing and absorbing any financial weakness in the non-banking financial services system. He added that the regulator faces a regulatory challenge of addressing any market failures through regulatory reforms and related policies reforms.
Dr. Omran told the representatives from the African Securities Exchange who participated in the conference that they must recognize the true nature of their role and that their mission and daily work is focused on promoting economic development and due diligence to the fact that every 1% increase in market capital adds 20 points to GDP Which is reflected in creating new job opportunities for citizens and facilitating means of welfare.
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