الهيئة العامة للرقابة المالية

Dr. Farid:

• A unified and unprecedented roadmap that places Egypt on the global map of transparency in non-banking financial activities.
• The achievement embodies the Authority’s vision for a more competitive and transparent financial system.
• Our objective is to accelerate and streamline the business environment to support national economic growth.
• The Guide is not merely a reference, but a pivotal executive tool in the Authority’s digital transformation journey.

Marking a major turning point in non-banking financial services, FRA issued its first unified services guide. This action is a direct fulfillment of FRA’s mandate as the independent regulatory body to regulate, develop and facilitate the business environment for both individuals and companies across the non-banking financial sector in Egypt.

This unprecedented Guide represents a pivotal executive tool for achieving institutional transformation and enhancing the efficiency of the workflow system.

It is issued as part of the Authority’s vision to improve the business environment, simplify procedures and promote transparency and data availability. Ultimately, this supports the establishment of a strong, advanced non-banking financial sector capable of attracting local and foreign investments, achieving financial inclusion and ensuring economic stability.

Dr. Farid, FRA Chairman affirmed that this Guide implements the Authority’s ambitious strategic plan to develop the sector’s institutional and regulatory infrastructure. He emphasized that this work is designed to build a stimulating business environment attractive to both local and foreign investments, thereby enhancing financial stability, promoting financial inclusion and safeguarding the rights of all stakeholders.

FRA Chairman emphasized: “This Guide is not simply a reference; it represents a pivotal executive tool for the Authority’s digital transformation. Its purpose is to lay the foundation for unifying procedures and ensuring unwavering fairness and efficiency in the delivery of our services.”

He affirmed that the Authority is constantly working to update and develop its services periodically to reflect global legislative developments. This effort embodies FRA’s vision for a non-banking financial sector that is more inclusive, sustainable and competitive.

The Guide serves as the official and sole reference for all companies, institutions and individuals under FRA’s supervision. These areas encompass the Capital Market, Insurance Activity and Non-Banking Financing Activities. Furthermore, the Guide details crucial supporting services, including financial reporting, compliance procedures, complaints handling, auditor oversight and various other related functions.

Stemming from this comprehensive role, the Guide was designed to achieve the maximum degree of transparency by standardizing procedures through precise definitions for each service and clearly specifying required documents and submission mechanisms, thereby eliminating personal discretion. Furthermore, it establishes clear timeframes via a mandatory and fixed timeline for obtaining each service, ensuring speed and efficiency of performance, in addition to outlining the regulatory rules and controls for each activity.

The Guide offers an unprecedented scope of coverage, encompassing all Capital Market and Investment services, including establishment services, trading, investment funds, issuance services and corporate governance.

It also covers all services for insurance and reinsurance companies and services offered for registering professionals in the insurance sector. Similarly, it covers all non-banking finance services: real estate finance, financial leasing, factoring, microfinance and small and medium enterprise (SME) services.

The Guide is designed to boost market confidence and stability by giving stakeholders a clear understanding of their rights and obligations. It also serves as an advanced step in the Authority’s digital transformation, enabling service delivery via sophisticated electronic mechanisms built on efficiency and quality standards.

FRA urges all stakeholders in non-banking financial activities to utilize this Guide as a fundamental and reliable reference. Furthermore, FRA confirms that it will update the Guide periodically to reflect legislative and regulatory developments and ensure its continuous alignment with international best practices.

The Comprehensive Guide is available on the Financial Regulatory Authority’s website (Click here).