الهيئة العامة للرقابة المالية

• Developed with e-finance, the new electronic system follows a competitive tender among qualified firms.

Dr. Mohammed Farid – FRA Chairman:

• The MCR enables financing via non-real estate assets, driving digital financial inclusion.
• The system digitizes collateral registration and creditor notifications, operating entirely without human intervention.
• Individuals can now register as creditors for the first time, broadening the registry’s reach.
• The platform supports external system integration and utilizes Unified Digital Identity for secure access.

Financial Regulatory Authority (FRA), chaired by Dr. Mohammed Farid, has launched an updated electronic system for the Egyptian Moveable Collateral Registry (MCR). Now under FRA’s direct oversight and developed in cooperation with e-finance, the system enables banks, institutions, companies, and individual investors to easily use moveable assets as collateral for financing.

E-finance executed the project after winning a competitive tender involving several qualified firms.

Moveable collateral refers to assets used by owners to secure financing for investment activities. To facilitate this, FRA established a centralized electronic registry for recording and publicizing security interests, allowing for the registration, amendment, and cancellation of such collateral.

Dr. Mohammed Farid, FRA Chairman, stated that the registry update aims to expand its usage, reduce operational burdens, and enhance the efficiency of the public notification and credit systems.

A key feature of the updated system is the inclusion of individuals as creditors. They can now enjoy all legal protections provided by law to secure mortgage rights over moveable assets immediately upon registration in the MCR.

FRA Chairman added that allowing individuals to register is a major step in broadening the beneficiary base. This enables them to leverage moveable assets for financing, integrates new segments into the formal financial system, and protects all parties through a precise and reliable digital notification framework.

The new electronic system operates 24/7, allowing for the automated registration, amendment, and cancellation of collateral notices without human intervention. It also features digital identity creation for users and integrates with other systems via Single Sign-On (SSO) unified digital identity.

Updates include integration with the E-Invoicing system and multiple payment channels, such as bank cards via the government payment gateway, virtual cards for mobile wallets, financial wallets, remote bank transfers, and future digital banking apps.

The MCR aims to empower both banking and non-banking financial institutions to provide financing based on previously untapped collateral, especially in cases where real estate collateral is unavailable.

The new system ensures high data security levels and provides interactive reports and dashboards for FRA and its clients. Furthermore, the entire creditor registration cycle is now fully digitized.

The Egyptian Moveable Collateral Registry bolsters the ability of MSME to access financing by using moveable assets – such as equipment, machinery, inventory, and intellectual property – as collateral without requiring a transfer of possession.