Dr. Mohammed Omran – FRA’s Chairman revealed that the ministerial decree no. 599 of 2019 was issued to renew the appointment of Counselor Reda Abdel Moati as FRA’s Deputy Chairman as of the end of March and for one year.
It is worth noting that the Board of Directors consists of FRA’s Chairman and two Deputy Chairman, in addition to six members with experience who shall be appointed by a ministerial decree. The Board conducts the Authority’s affairs , set and implement the necessary policies to achieve FRA’s objectives and goals. In addition, the Board may take such final decisions as may be necessary.
The Egyptian constitution which was issued in 2014 has put FRA in the ranks of independent regulatory Bodies. Also, the constitution set the mechanism for appointing the Authority’s Chairman by a decision of the President of the Republic after the approval of the House of Representatives.
Counselor Reda Abdel Moati joined the State Council in 1983. He has been appointed as vice-president of the State Council and a judge at the Supreme Administrative Court since 2003. He is a member of several committees at FRA. He has been appointed as Vice-Chairman of the Board since 2016 until now. He has also participated in preparing and drafting various laws and regulations related to insurance, financial, economic and investment aspects. He is also the Deputy Chairman of the Board of Trustees of The Egyptian Institute of Directors (EIoD) and the Microfinance Unit.