Dr. Mohamed Farid, the Chairman of the Egyptian Financial Regulatory Authority and the Vice Chairman of the International Organization of Securities Commissions (IOSCO), participated in the 48th Annual Meeting of IOSCO.

The meeting, held under the theme "Envisioning the Next Horizon: Pathways to a Connected Future for Capital Markets," was hosted by the Securities and Exchange Commission of Thailand (SEC) in Bangkok.

Dr. Mohamed Farid stated that this year's meeting focused on exchanging experiences regarding various issues and matters affecting global capital markets from a developmental and regulatory perspective.

Key topics included efforts to achieve higher levels of financial stability through integrated efforts, enhancing sustainable finance activities, and establishing regulatory frameworks to address technological advancements in capital markets.

Regarding IOSCO's endorsement of the International Sustainability Standards Board (ISSB) standards, Dr. Farid emphasized the utmost importance of providing necessary capacities in emerging markets to implement these standards effectively.

He highlighted the need for timely translation of the standards upon issuance, as implementation and practical application are equally vital as their release.

IOSCO, as the global standard-setter for securities market regulation, plays a pivotal role in establishing the foundations and rules for financial markets.

Each country is committed to complying with these standards to ensure market fairness, transparency, efficiency, and risk management.

Membership in the organization includes approximately 95% of securities market regulators worldwide, with a current membership of 229. This is the second consecutive meeting held in-person rather than virtually.

The event featured four specialized workshops discussing financial stability, sustainable finance, crypto-assets, and capacity development.

The team responsible for sustainable finance addressed the future regulatory roadmap and the challenges hindering the adoption and implementation of sustainability reporting standards.

They also discussed the challenges faced by emerging markets in sustainable finance, such as climate change, and how to transform environmental constraints into new opportunities for green growth while ensuring inclusive participation. The organization's efforts in capacity-building programs were also highlighted.

Dr. Farid emphasized the significance of participating in the regular meetings of IOSCO, considering it a high-level international platform for regulatory authorities to exchange ideas and enhance cooperation between advanced and emerging markets. This facilitates knowledge transfer, access to best practices and standards worldwide, and the understanding of regulatory frameworks for mitigating emerging risks faced by investors.

During the meeting, future projects of IOSCO were discussed, taking into account the priorities set by the organization's board of directors.

The discussions also encompassed global economic, technological, and environmental developments and their impact on financial markets.

The latest advancements in financial service technologies provided by market regulators to institutions and financial companies under their jurisdiction were also addressed, underscoring the role of capital markets in supporting economic development through diverse investment and financing solutions for companies, while considering all dimensions related to sustainability, governance, the environment, and reporting in accordance with international standards.

In related positive news, the 48th Annual Meeting of IOSCO showcased the commitment of regulatory authorities worldwide to fostering financial stability, sustainable finance, and inclusive growth.

The collaborative efforts and knowledge exchange during the meeting contribute to strengthening the resilience and effectiveness of global capital markets, promoting responsible investment practices, and addressing emerging challenges.

The commitment to implementing international sustainability standards reflects the collective dedication towards achieving environmental and social objectives alongside economic prosperity.