Egypt's lawmakers have appointed Dr Mohamed Farid Saleh as Minister of Investment and Foreign Trade. His immediate past position is that of the Chairman of the Financial Regulatory Authority (FRA), a post he held since 2022.
Dr Farid and 13 other new deputy prime ministers and ministers, appointed on 10 February in a major Cabinet reshuffle, were sworn in during a ceremony presided over by President Abdel Fattah El-Sisi on 11 February. The Cabinet changes include the creation of the new post of Deputy Prime Minister in charge of economic affairs. There are more than 20 ministers in the new Cabinet, including Prime Minister Dr Mostafa Madbouly.
Dr Farid is also a member of the board of directors of the Central Bank of Egypt.
In addition, he chairs the Emerging Markets Committee at the International Organisation of Securities Commissions (IOSCO) and is Vice Chair of Glasgow Financial Alliance for Net Zero (GFANZ) Africa Network.
Previously, he served as Chairman of the Egyptian Stock Exchange from 2017 to 2022. He has extensive experience in the financial services industry and has previously worked at prominent institutions, including the World Bank.
Presidential spokesperson Mohamed El-Shennawy said that the new Cabinet was formed to focus on national security, foreign policy and the economy.