Dr. Islam Azzam, Chairman of the Financial Regulatory Authority, received a Russian delegation headed by Mr. Alexei Guznov, Deputy Governor of the Central Bank of Russia, in the presence of Dr. Ahmed Abdel Aziz, Vice Chairman of the Authority, Mr. Mahmoud Jibril, Assistant Chairman of the Authority, and Ms. Abeer Saleh, Advisor to the Chairman of the Authority.

The meeting addressed cooperation in the insurance sector and issues of common interest, as the competencies of the Russian bank and the Egyptian Financial Supervisory Authority overlap in a number of activities such as insurance, finance and spreading financial literacy.

The two sides reviewed the developments in the non-banking financial markets in both Egypt and Russia, and the opportunities available to expand areas of coordination and exchange of experiences in light of their membership in the BRICS group and the common understandings between the group’s countries.

Dr. Islam Azzam stressed the Authority’s keenness to cooperate with various international regulatory and financial institutions, in order to keep pace with global developments, and to support the performance of non-banking financial activities in Egypt and drive them towards more innovation and sustainable growth.

For his part, Mr. Alexei Guznov stated that Egyptian-Russian relations are witnessing continuous development at various levels, supported by the common will of the political leadership in both countries, which enhances the opportunities for positive cooperation in economic activities between Cairo and Moscow.

At the end of the meeting, both sides agreed to continue communicating and studying the joint files, and they exchanged commemorative gifts