Cairo: Chairman of Egypt's Financial Regulatory Authority (FRA) Islam Azzam held talks with a Russian delegation headed by Deputy Governor of the Central Bank of Russia Alexey Guznov, on cooperation in the insurance sector and other areas of mutual interest.

According to State Information Service Egypt, the FRA issued a statement on Saturday, June 13, 2026, indicating that discussions focused on fields where the mandates of the Russian central bank and Egypt's Financial Regulatory Authority intersect. These fields include insurance, financing activities, and financial literacy initiatives.

The two sides reviewed developments in non-banking financial markets in both Egypt and Russia. Opportunities to expand coordination and exchange expertise were explored, considering their membership in the BRICS grouping and shared understandings among member states.

Azzam reaffirmed the FRA's commitment to strengthening cooperation with international regulatory and financial institutions. This commitment aims to keep pace with global developments, support the performance of Egypt's non-banking financial sector, and promote greater innovation and sustainable growth.

Guznov mentioned that Egyptian-Russian relations continue to develop steadily across various levels. This development is supported by the shared commitment of the political leaderships in both countries. He noted that this momentum enhances prospects for constructive cooperation in economic activities between Cairo and Moscow.