Dr. Sherif Farouk, Minister of Supply and Internal Trade, alongside Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority (FRA), witnessed the signing ceremony of a cooperation protocol between the Internal Trade Development Authority (ITDA) and the FRA. The protocol aims to establish and equip a "Premium Commercial Registry Office" for corporate services inside the FRA headquarters.
The initiative is part of the Ministry’s efforts to develop the Commercial Registry system and improve service quality for the business community and investors. Minister Farouk emphasized that this protocol aligns with the ministry’s plan to modernize services and expand "Premium" service delivery, simplifying procedures, reducing transaction time, and creating a more attractive investment environment.
Dr. Sherif Farouk explained that creating an integrated registry office within the FRA headquarters serves as a practical model for integration between state institutions, especially given the FRA's crucial role in regulating non-banking financial activities and serving a wide range of companies and institutions.
The Minister noted that the new office will operate under the "Premium Services" system, allowing companies and investors to complete various transactions—including registration, amendments, and striking off—with higher speed, efficiency, and quality, thus reducing the burden on clients.
The protocol was signed by Dr. Mohamed Awad, Chairman of ITDA, and Mr. Mohamed Abdel-Hamid El-Sayyad, Vice Chairman of the FRA. The ceremony was attended by Major General Walid Abul-Magd, Vice Minister of Supply, Mr. Ahmed Kamal, Assistant Minister and Official Spokesperson, and leadership from both ITDA and FRA.
For his part, Dr. Mohamed Farid, Chairman of the FRA, highlighted the importance of this cooperation. He noted that the protocol reflects both parties' commitment to supporting the business environment and facilitating access to government services for companies operating in the non-banking financial sector. He added that the office inside the FRA will enhance service integration and support the state's drive toward institutional performance efficiency.
Dr. Mohamed Awad, Chairman of ITDA, confirmed that the protocol reflects the Authority's commitment to evolving the registry system. ITDA will be responsible for providing qualified personnel, technical support, and the necessary operating systems to ensure work regularity and efficiency, while maintaining full information confidentiality and high governance standards.
Concluding the event, Dr. Sherif Farouk reiterated that the Ministry will continue executing plans to develop government services and expand institutional partnerships to build trust in the Egyptian Commercial Registry system.
