Egyptian and Russian officials discuss insurance sector cooperation

Islam Azzam, Chairperson of Egypt's Financial Regulatory Authority, received a Russian delegation headed by Alexey Guznov to discuss prospects for cooperation in the insurance sector.

The meeting occurred on 13 June 2026 in the presence of FRA Deputy Chairperson Ahmed Abdel Aziz, Assistant Chairperson Mahmoud Gabrial and Adviser Abeer Saleh.

Both sides highlighted overlaps in their mandates covering insurance, finance and financial literacy. They also reviewed recent developments in non-banking financial markets in Egypt and Russia.

Azzam reaffirmed the FRA's commitment to international cooperation that supports growth, innovation and sustainable development. Guznov noted that advancing Egyptian-Russian relations create favourable conditions for expanded economic ties, supported by the political leadership of both countries.

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The Egyptian Financial Regulatory Authority approved two companies for digital insurance policies and is reviewing over 10 more applications, FRA Chairperson Islam Azzam announced at the 52nd African Insurance Organisation Conference in Cairo.

AI에 의해 보고됨

Islam Azzam, chairperson of the Financial Regulatory Authority (FRA), met representatives of the Egyptian Mortgage Federation and mortgage finance companies to strengthen non-banking financial activities. Azzam emphasized continuing participatory dialogue to develop the sector and expand financial inclusion. The meeting addressed proposals to amend regulations amid operational and financing challenges.

Egypt's Financial Regulatory Authority and 48 consumer finance companies have expanded a unified database aimed at detecting fraud and curbing cash monetisation. Officials say the move will help reduce losses and build trust in the sector. The effort includes collaboration with other financial federations.

AI에 의해 보고됨

Alaa El-Zoheiry, chairperson of the Insurance Federation of Egypt, has been elected president of the African Insurance Organisation for the 2026-2027 term.

 

 

 

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