Egypt’s PM Names Islam Azzam as Head of Stock Exchange
Egyptian Prime Minister Mostafa Madbouly has appointed Islam Abdel Azim Azzam as the new chairman of the Egyptian Stock Exchange (EGX) for one year. He replaces Ahmed El Shiekh, who led the exchange for two terms.
Azzam’s plans
In his first statement, Azzam said he will work with market players to bring the exchange closer to international standards and support Egypt’s economy.
He stressed that trading will remain free, based on supply and demand, without restrictions. At the same time, he plans to strengthen regulations.
His main goals include:
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Speeding up the launch of financial derivatives.
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Supporting market makers.
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Expanding securities lending and borrowing.
These steps aim to make the market deeper and more diverse. He also said new company listings, especially from the private sector, will be a key focus. This ties in with Egypt’s plan to sell stakes in state-owned firms to boost private sector involvement.
About Islam Azzam
Azzam has long experience in finance, investment, and teaching. Since 2021, he has been vice chairman of the Financial Regulatory Authority (FRA), where he oversaw capital markets, insurance, and non-banking finance.
In the past, he worked as:
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Advisor at the Mortgage Finance Authority (2007–2009)
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Assistant chairman at the Capital Market Authority (2003–2005)
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Managing director of the SME Investment Fund (Bedaya)
He is also a professor of finance at the American University in Cairo (AUC) and has taught at several local and international universities, including Cairo University, the London School of Economics, and the University of California, Irvine.
Azzam also holds senior roles in various financial and regulatory bodies, such as the Anti-Money Laundering Unit and the Egyptian Arab Land Bank.
He earned his PhD in economics from the University of California, Irvine, with expertise in econometrics, forecasting, and monetary policy.
Published: 27th August 2025
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