The Chairperson of the Financial Regulatory Authority (FRA), Mohamed Farid, and the Minister of Supply and Internal Trade, Sherif Farouk, witnessed the signing of a cooperation protocol between the Internal Trade Development Authority (ITDA) and the FRA. The agreement aims to establish and equip a dedicated commercial registry office at the FRA’s headquarters, supporting ongoing efforts to modernise Egypt’s commercial registry system and enhance service quality for businesses and investors.
The protocol was signed by Mohamed Abdel-Hamid El-Sayyad, Vice Chairperson of the FRA, and Mohamed Awad, Chairperson of the ITDA.
Mohamed Farid highlighted the importance of the partnership, describing it as a clear reflection of both institutions’ commitment to improving the business environment and enabling companies to access government services more efficiently. He explained that the establishment of a commercial registry office within the FRA will simplify procedures related to company incorporation and legal status updates for entities operating in non-banking financial activities, while strengthening service integration and supporting the state’s efforts to enhance the investment climate and institutional performance.
Farid added that the initiative aligns with the FRA’s strategy to simplify regulatory procedures and reduce the number of authorities investors must engage with. Providing premium commercial registry services at the FRA will significantly reduce the time and effort required for company registration and amendments, helping to foster a more competitive and attractive investment environment. He also noted that offering a one-stop service model for non-banking financial entities will ease administrative burdens, support market stability and growth, and reinforce investor confidence—contributing to broader economic development.
For his part, Minister Sherif Farouk stated that the protocol forms part of the ministry’s plan to upgrade and modernise commercial registry services and expand premium service offerings. These efforts aim to simplify procedures and shorten service delivery times in line with the state’s directives to support economic activity and accelerate digital transformation. He described the new office as a practical example of effective institutional integration, particularly given the FRA’s pivotal role in regulating non-banking financial markets.
Farouk added that the office will operate under the premium services model, enabling companies to efficiently complete registrations, amendments, and deletions with higher service quality, while reducing procedural burdens on users. He reaffirmed the ministry’s commitment to strengthening institutional partnerships to improve the business environment and enhance investor confidence in Egypt’s commercial registry system.
Mohamed Awad, Chairperson of the ITDA, noted that the protocol underscores the authority’s commitment to upgrading the commercial registry framework and service standards by expanding premium registry offices within key institutions. He confirmed that the ITDA will provide qualified personnel, technical support, and operational systems to ensure efficient service delivery, while enhancing data integration and exchange between both entities in full compliance with confidentiality and governance standards.
