Mohamed Farid, chairman of Egypt's Financial Regulatory Authority (FRA), has been elected as chairman of the Growth and Emerging Markets Committee (GEM) at the International Organisation of Securities Commissions (IOSCO) for the 2022-2024 term. GEM is the largest committee within IOSCO, representing over 75 percent of the IOSCO's ordinary membership. The Committee comprises 91 members and 21 non-voting associate members, who include the world's fastest growing economies and 10 of the G-20 members. As a result, the Egyptian FRA has also become the vice chairman of the Board of Directors of IOSCO for the same period for the second time in a row. Commenting on this occasion, Farid expressed his appreciation of the IOSCO member countries' confidence in the Egyptian potentials to lead this prestigious position. IOSCO is the international body that brings together the world's securities regulators and is recognised as the global standard setter for the securities sector. IOSCO develops, implements, and promotes adherence to internationally recognised standards for securities regulation. It works intensively with the G20 and the Financial Stability Board (FSB) on the global regulatory reform agenda.
