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Dr. Mohamed Farid:
- We will work to ensure fairness in sustainability disclosure requirements between listed and unlisted companies.
- Addressing regulatory gaps in sustainability reporting will be subject to coordination and consultation.
- CIB’s recognition reflects the strength of the regulatory framework of Egypt’s financial sector.
- Egypt is transforming into a regional hub for sustainable finance, and the application of ISSB standards is a top priority.
- The Stock Exchange has been a pillar of the national economy for 140 years, and the carbon market is a historic step.
- Mandating companies to comply with international sustainability standards enhances the attraction of global investment funds.
- Egypt’s newly launched carbon market is an innovative financial instrument supporting the green economy.
Dr. Mohamed Farid, Minister of Investment and Foreign Trade, participated today—Tuesday—in the opening bell ceremony at the Egyptian Exchange, on the occasion of the Commercial International Bank (CIB) receiving the “Best Bank for Sustainable Finance in Africa 2025” award from the African Securities Exchanges Association.
The high-level ceremony was attended, alongside the Minister of Investment, by Dr. Hussein Issa, Deputy Prime Minister for Economic Affairs; Mr. Hassan Abdalla, Governor of the Central Bank of Egypt; and Dr. Ahmed Rostom, Minister of Planning and Economic Development, in addition to senior figures from the financial and banking sectors.
Dr. Mohamed Farid affirmed that the Ministry is working to ensure fairness in sustainability disclosure requirements between companies listed and unlisted on the Stock Exchange, in a manner that achieves a level playing field and enhances market competitiveness.
He added that monitoring and addressing any regulatory gaps related to sustainability disclosures and reporting will take place within a framework of coordination and consultation among the relevant authorities, to ensure alignment of the legislative and regulatory framework with international best practices.
The Minister explained that CIB’s recognition reflects the strength of the regulatory and institutional framework of Egypt’s financial sector, and underscores Egypt’s growing position as a regional hub for sustainable finance.
He described the capital market as “a lifeline of development,” praising its historical role spanning more than 140 years in supporting major economic entities and enhancing companies’ capacity for growth and expansion.
Dr. Farid revealed the State’s direction toward further activating a regulated voluntary market for trading carbon emission reduction certificates, considering them innovative financial instruments that support companies’ environmental commitments and promote the transition toward a green economy.
In this context, he noted that the Financial Regulatory Authority is in the process of implementing the international sustainability standards issued by the International Sustainability Standards Board (ISSB) (S1 and S2), which will contribute to attracting foreign investment and meeting the requirements of global investment funds that consider sustainability reporting a key condition for capital allocation. This also enables institutions to more accurately assess environmental and operational risks, and encourages companies to rationalize energy and water consumption as part of their competitive identity.
The Minister emphasized that the government is currently working, in coordination among various ministries and relevant entities, to strengthen the carbon market and encourage investment in this vital area, ensuring the achievement of inclusive and resilient economic growth capable of addressing regional and global challenges.
Dr. Farid concluded by stressing the importance of continued coordination between the government, capital markets, and the banking sector, in support of achieving sustainable and inclusive economic growth and enhancing the Egyptian economy’s ability to keep pace with global developments