Mohamed Farid
As of August 2024, the total net assets of gold investment funds have significantly increased compared to July, marking a positive trend for funds AZ-Gold, Evolve Gold, and Dahab fund, according to a report presented by Mohamed Farid Saleh, Chairman of FRA
Approved by the FRA’s Committee for the Oversight and Supervision of Carbon Emission Reduction Units, chaired by FRA head Mohamed Farid, is a significant step in Egypt's effort to combat climate change through regulated carbon trading
Trading started today, August 13th, with oversight provided by financial authorities in Egypt and across Africa.
Mohamed Farid, Chairman of the FRA, emphasized that the new regulated market represents a milestone in Egypt’s environmental and financial sectors
On Tuesday, Farid issued Decision No. 1732 of 2024, revealing the specific criteria for firms to qualify for future FRA approval
The importance of conducting transactions in accordance with market mechanisms was emphasized, with the goal of achieving transparency and clarity at the highest levels.
They recently signed a memorandum of understanding (MoU) that outlines their shared commitment to promote climate practices and sustainable financing in Egypt.
The report highlights that the first Egyptian gold investment fund, known as the AZ-Gold fund and managed by Azimut Egypt Fund and Portfolio Management Company, was launched in May 2023.
Additionally, the committee approved the creation of V.Lens, a company specializing in electronic identification, verification, and authentication services.
The amendments aim to diversify investment tools, enhance competitiveness, and make the Egyptian market more attractive to investors, according to Farid
To stimulate liquidity and trading on both government and corporate bond markets, Farid called for increased transparency and disclosure, along with simplified and streamlined issuance procedures
These entities are the Center of Organic Agriculture in Egypt (COAE), TUV NORD Egypt Company, and the international entity TUV NORD Cert Company. The approvals are valid for a period of one year from the date of issuance
The primary objective of this resolution is to ensure the financial stability of these companies and their ability to deliver efficient services
This regulatory measure aligns with the FRA's broader goals of boosting market efficiency, protecting competitiveness, and promoting fairness in dealing and pricing.
The company has offered to repurchase shares from shareholders who object to this move at a price of LE 39.80 per share.
During last year’s COP27 conference, Egypt revealed that it would launch Africa’s first voluntary carbon market, allowing companies in Egypt and Africa to trade certified carbon credits
The minimum amount is $500 and the maximum is $10,000 per plan during the year.
FRA head, Mohamed Farid, has announced that the authority’s board of directors has issued two new decisions regarding investment funds dealing in minerals as one of the transferred financial values
This came during a promotional tour by an Egyptian delegation to both Saudi Arabia and the United Arab Emirates (UAE).
According to FRA’s statement, Mohamed Farid Saleh has been appointed as the Chairman of the Egyptian Stock Exchange since August 2017, according to Prime Minister Decision No. 1759/2017.
