The Egyptian Financial Supervisory Authority (EFSA) is a public Authority, having a legal status, established in accordance to law 10 of the year 2009.
The Authority is responsible for supervising and regulating non-banking financial markets and instruments, including the Capital Market, the Egyptian Stock Exchange, all activities related to Insurance Services, Mortgage Finance, Financial Leasing, Factoring and Securitization. EFSA's role is to regulate the market and ensure its stability and 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".
EFSA Roles
The Authority, in pursuit of achieving the purposes for which it has been established, shall in particular:
- Inspect licensed entities engaged in non-banking financial activities.
- monitor the 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.
- Supervise training of market participants.