Meet the change makers
Dr. Mohamed Farid Saleh, Executive Chairman of The Financial Regulatory Authority (FRA) has been elected for the third time in a row as the Chair of the IOSCO’s Growth and Emerging Markets Committee (GEMC) and the Vice Chair of the IOSCO Board for the term 2024 - 2026.
The International Organization of Securities Commissions (IOSCO) is the international body that brings together the world's securities regulators and is recognized as the global standard setter for the securities sector. IOSCO develops, implements, and promotes adherence to internationally recognized standards for securities regulation. It works intensively with the G20 and the Financial Stability Board (FSB) on the global regulatory reform agenda. It was established in 1983 with its members regulating more than 95% of the world's securities markets in more than 130 jurisdictions: securities regulators in emerging markets account for 75% of its ordinary membership.
The IOSCO Objectives and Principles of Securities Regulation have been endorsed by both the G20 and the FSB as the relevant standards in this area. They are the overarching core principles guiding IOSCO in the development and implementation of internationally recognized and consistent standards of regulation, oversight, and enforcement forming the basis for the evaluation of the securities sector for the Financial Sector Assessment Programs (FSAPs) of the International Monetary Fund (IMF) and the World Bank.
The Growth and Emerging Markets Committee (GEMC) is the largest Committee within IOSCO, representing over 75% of the IOSCO's ordinary membership. The Committee seeks to promote the development and greater efficiency of emerging securities and futures markets by establishing principles and minimum standards, providing training programs and technical assistance for members, and facilitating the exchange of information and transfer of technology and expertise.
The GEMC comprises 90 members and 24 non-voting associate members including the world's fastest-growing economies and 10 of the G-20 members. Emerging economies are expected to represent a growing portion of IOSCO membership as new members continue to join.
Dr. Mohamed Farid holds a Ph.D. in Financial Economics from Cardiff Metropolitan University - UK, an LLM in International Financial & Commercial law from King's College London – UK, an MSc in Quantitative Finance from Bayes Business School - City, University of London - UK, an MSc in Economics, (Project Analysis, Finance & Investment) from York University - UK, and an MBA from the Arab Academy for Science, Technology & Maritime Transport (AAST) - Egypt.