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2026-11-04T14:21:58.000Z

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FRA-IFC ESG Initiative

FRA-IFC ESG Initiative

The Financial Regulatory Authority (FRA) and the International Finance Corporation (IFC) signed two agreements to develop sustainability and governance tools. The agreements include preparing a scorecard to assess companies’ performance, reviewing the sustainability reporting framework, and training FRA staff on the IFRS S1 and IFRS S2 disclosure standards. The second agreement allows the Egyptian Institute of Directors to use and develop training materials for three years. These include four programs and guides covering board sustainability, board-member certification, the duties of board secretaries, and internal control. FRA Chairman Islam Azzam said the cooperation aims to develop regulatory frameworks and corporate practices, and to enhance the skills of employees in sustainability and governance.

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