Egyptian economic magazine, Arabic and English-language news portals Amwal Al Ghad congratulate Mohamed Farid on his appointment as the new chairman of the Financial Regulatory Authority (FRA) as of August 7, 2022. Saleh, who has been chairman of the Egyptian Exchange (EGX) since August 2017, will replace Mohamed Omran whose four-year term ends this week. Prior to his appointment as EGX's executive chairman, Farid served as the chairman and the CEO of Dcode EFC, a leading economic forecasting and advisory firm in Egypt. Between 2013 and 2016, he was an external consultant on venture capital and financial leasing for the World Bank Group in Egypt, and was a member of the Capital Market Advisory Committee established by the FRA. He was also the vice chairman of the EGX between 2010 and 2011. Prior to his appointment as EGX vice chairman, Farid served as a senior financial economist and head of Capital Markets Unit at the Ministry of Investment, whereby he participated in the formulation and implementation of the two phases of the Non-Banking Financial Sector Reform Plans adopted by the Egyptian government. During his tenure as EGX vice chairman, he was responsible for developing a detailed plan for the establishment of derivatives market, as well as the preparation of the legislative rules governing the market. Farid holds a BSc in Foreign Trade and Economics from Helwan University. He also holds an MBA from the Arab Academy for Science, Technology, and Maritime Transport (ASST), an MSc in Economics, Finance and Investment from York University, United Kingdom. This is in addition to an MSc in Quantitative Finance from CASS Business School in the United Kingdom and a certificate in Venture Capital form UC Berkley, the United States. He also served as a part time lecturer on financial markets, international finance, financial derivatives at the American University in Egypt (AUC) and at the ASST.
