Who is EFSA ?

The Egyptian Financial Supervisory Authority is a public Authority, having a legal status, established in accordance to law 10 of the year 2009.

The Authority shall be responsible for the supervision of non-bank financial markets and instruments, including the Capital Market, the Exchange, all activities related to Insurance Services, Mortgage Finance, Financial Leasing, Factoring and Securitization. The objective is to ensure market stability as well as to regulate the concerned activities, and maximize their competitiveness to attract more local and foreign investments. The mandate of the Authority also includes limiting inconsistency risks and addressing problems arising from applying different supervisory rules.

The Egyptian Financial Supervisory Authority shall replace the Egyptian Insurance Supervisory Authority, the Capital Market Authority, and the Mortgage Finance Authority in application of the provisions of the supervision and regulation of Insurance law no. 10 of 1981, the Capital Market law no. 95 of 1992, the Depository and Central registry law no. 93 of 2000, the Mortgage Finance law no. 148 of 2001, as well as other related laws and decrees that are part of the mandates of the above authorities.

The Authority shall be considered the concerned administrative body entitled to apply the Financial Leasing provisions promulgated by law no. 95 of 1995.

EFSA’s Objectives:

•Stability and Soundness of non-bank financial markets.

•Regulation and development of non-bank financial markets.

•Realizing financial discipline and protecting rights of investors.

•Issuing various means, systems and rules which ensure efficiency and transparency of these markets . 

•Inspect entities licensed engaged in non-banking financial activities.

•Regulate the provision and dissemination of information related to non-banking financial markets.

•Ensure transparency and competitiveness in non-banking financial services through proper regulation of non-banking financial markets.

•Protect non-banking market participants’ rights.

•Take necessary measures to limit market manipulation and fraud given the consideration of potential commercial risks relevant to that market.

•Supervise training of non-banking market participants and enhance their efficiency.

•Cooperate and coordinate with other non-banking regulatory bodies abroad, thus developing and increasing efficiency of means and methods of supervision in non-bank financial markets and instruments domains.

•Communicate, cooperate and coordinate with societies and organizations which regulate work of financial supervision authorities across the globe, thus empowering the Authority to assume its competences according to the best international practices.

•Contribute to spreading investment culture and awareness.

•This in addition to the roles mentioned in each of: the Supervision and Regulation of Insurance law no. 10 of 1981, the Capital Market law no. 95 of 1992, the Depository and central registry law no. 93 of 2000, the Mortgage Finance law no. 148 of 2001.