CAIRO, July 3, 2018 (MENA) - Chairman of the Financial Regulatory Authority (FRA) Mohamed Omran said Egypt's New Administrative Capital can set an example that can be emulated in other green cities around the world. He called for mobilizing efforts for encouraging eco-friendly projects, decreasing thermal emissions and increasing greenery in residential areas. This came on Tuesday during Omran's participation in the activities of the inaugural session of Astana conference for sustainable financing held for two days in Kazakhstan. According to a press statement by the authority, Omran urged the governments of the emerging economies to adopt green economy systems. He underlined the importance of the role played by stock markets and non-banking financial activities in mobilizing savings and making perfect use of available resources to achieve green and sustainable development. Omran will ink, on the sidelines of the event, a memorandum of understanding between the Financial Regulatory Authority (FRA) of Egypt and Astana Financial Services Authority (AFSA) to promote cooperation and exchange of know-how. The Astana Financial Services Authority (AFSA) was launched on 1 January 2018 as the independent regulator of the Astana International Financial Centre (AIFC). AFSA is a regulator of both financial and non-financial services activities. It regulates Centre Participants carrying out financial and ancillary services and capital markets activities within the territory of AIFC. AFSA is also the regulator of companies registered by the AFSA that carry out non-financial services activities.
