الهيئة العامة للرقابة المالية

أحداث وفاعليات الهيئة

Tax Authority’s E-commerce Unit Participates in FRA Fintech Forum Wednesday 23 July 2025

The Egyptian Tax Authority’s E-commerce Unit recently took part in FRA Fintech Forum 2025, an event organized by the Financial Regulatory Authority (FRA). This participation aligns with FRA’s strategic goals to foster partnerships, engage market stakeholders, and understand the challenges and opportunities within the digital and fintech sectors, all aimed at bolstering the national economy.

Minister of Finance, Ahmed Kouchouk, delivered the forum’s opening address. He highlighted the Ministry’s and the Tax Authority’s drive to accelerate digital transformation and elevate tax services, especially for startups and e-commerce businesses. Kouchouk reiterated the government’s dedication to create an innovation-friendly environment through a range of tax incentives and facilitations.

Kouchouk explained that the E-commerce Unit’s participation aligns with Egypt’s broader push to enhance financial and tax inclusion and activate collaborations with key players in the digital economy.

The Unit’s booth at the forum was a hub for engaging discussions with fintech innovators. Tax Authority representatives addressed numerous inquiries, providing clarity on simplified tax compliance, electronic registration procedures and the facilitations available for both local and international startups and digital platforms. The team offered essential technical and awareness support, aiming to boost tax literacy and seamlessly integrate state initiatives with market demands.

FRA Chairman Witnesses MoU Signings Between FRA Sandbox and Key FinTech Stakeholders – Wednesday 23 July 2025

• The signing ceremony took place during the official launch of FRA Sandbox at FRA FinTech Forum 2025.
• The Memoranda of Understanding (MoUs) aim to develop new technological solutions in various fields, enhance data exchange and electronic linkage between relevant parties.

Dr. Mohamed Farid,  FRA Chairman:

• These MoUs are a practical step towards enhancing public-private partnerships and speeding up digital transformation in non-banking financial markets.
• The Authority is committed to support FinTech entrepreneurship environment, providing comprehensive technical and regulatory assistance.

Dr. Mohamed Farid, FRA Chairman officially launched FRA Sandbox at FRA FinTech Forum 2025. This significant event witnessed the signing of several Memoranda of Understanding (MoUs) between the Sandbox and leading players in the FinTech sector. The forum, organized by FRA, aims to foster innovation and strengthen collaboration between regulators and companies in this dynamic industry.

These strategic MoUs are designed to develop cutting-edge technological solutions across various FinTech domains and drive the digital transformation of the non-banking financial sector. A key objective is also to improve data exchange and electronic connectivity among all relevant parties. FRA is dedicated to stay ahead of rapid FinTech advancements, creating a supportive regulatory environment for innovation while simultaneously protecting investor rights, boosting market efficiency and stability and improving user access to non-banking financial services.

The Memoranda of Understanding (MoUs) signed during the forum span several critical areas, formalizing partnerships with various entities. These include Innovation Partners such as AUC Venture Lab, Techne, Mercatura Forum, Tech Fin and Plug & Play Egypt. On the other hand, the Technological Infrastructure Partners involved are E-Finance for Digital Operations, GIG Insurance Company and the Insurance Federation of Egypt. Lastly, the Investment Partners collaborating with the Regulatory Sandbox are the Egyptian Institute of Accountants and Auditors (EIAA) and Dr. Khaled Abdelaziz Hegazy Accounting, Auditing and Financial & Tax Consulting Office.

In his address at the forum, Dr. Farid emphasized that FinTech is a cornerstone for enhancing financial, investment and insurance inclusion, as well as significantly boosting operational efficiency. He highlighted FRA’s ongoing efforts to develop robust regulatory and legislative frameworks that will nurture the growth of this sector. Furthermore, he underscored the importance of strengthening collaboration with all partners to achieve the desired digital transformation within non-banking financial services.

FRA Board of Directors has established and launched a Regulatory Sandbox for Technological Applications, formalized by Resolution No. 163 of 2024. Officially inaugurated during the forum, this Sandbox provides a crucial platform for both existing non-banking financial service providers and entities on FRA’s FinTech outsourcing register to test innovative FinTech applications, business models and related mechanisms.

The Sandbox is set to significantly enhance FRA’s efforts in supporting technology-driven startups that offer non-banking financial services, thereby boosting innovation across the entire non-banking financial sector.

The signed MoUs represent a tangible move towards strengthening public-private partnerships and accelerating digital transformation in financial markets. These agreements are expected to drive innovation and expand financial inclusion, making funding and services more accessible to everyone.

FRA Chairman Highlights Key Digital Transformation Efforts in NBFS at FRA Fintech Forum – Tuesday 22 July 2025

Dr. Mohamed Farid- FRA Chairman:

• Digitalization is the foundation of economic progress worldwide and Egypt is fully embracing this global digital transformation.
• The main objective of digitizing non-banking financial transactions is to maximize benefits for citizens and clients.
• The rapid advancement in Artificial Intelligence underscores the critical need to enhance the capabilities of companies and markets within our financial landscape.
• Significant progress has been made, with 7 companies now providing outsourcing services and 70 companies in the non-banking financial sector having started offering their services digitally.
• 80,000 digital contracts have been issued and 120,000 digital verification operations have been performed, 60% of which are in the capital market and the rest in non-banking financing activities.
• The official launch of FRA’s Sandbox was announced today.
• FRA’s Sandbox will empower practitioners in non-banking financial activities to leverage financial technology and conduct rigorous testing on innovative FinTech applications.

During FRA Fintech Forum 2025, Dr. Mohamed Farid, FRA Chairman presented the Authority’s extensive efforts to digitize non-banking financial services. This strategic initiative, underpinned by new legislation and regulations, aims to attract greater investment and bolster the national economy.

Dr. Farid underscored that digitalization is the global cornerstone of economic progress. He highlighted compelling statistics: approximately 64% of consumers worldwide now use digital applications daily, and nearly 80% of adults engage with digital financial services. This rapid shift has prompted over 60 countries to establish digital finance regulatory platforms, making it crucial for Egypt to keep pace.

“Egypt holds a strong position in this evolving landscape,” Dr. Farid stated, “driven by a large base of smartphone users with an average age under 24. This reflects a significant uptake of digital and technological services, a trend consistently supported by our political leadership, including His Excellency President Abdel Fattah El-Sisi.”

The primary objective of this digital transformation is to maximize the benefits of non-banking financial services for both citizens and clients. Dr. Farid detailed FRA’s proactive legislative journey, which began with Resolution No. 122 of 2014, regulating the electronic distribution of standard insurance policies. This was followed by Resolution No. 316 of 2014, addressing technological infrastructure requirements in the non-banking financial sector and Resolution No. 1005 of 2013 which set standards for technological infrastructure and information security systems for brokerage firms.

The non-banking financial sector has recently witnessed a significant acceleration in its digital transformation, a momentum driven by  FRA’s issuance of a comprehensive package of executive decisions. These decisions operationalize Law No. 5 of 2022, a pivotal piece of legislation that established the overarching regulatory and legislative framework for fostering and governing technology’s use within non-banking financial activities and services. Building on this foundational law, FRA has since rolled out a series of critical resolutions. Resolution No. 69 mandated the digitalization and direct integration of insurance companies’ databases with the Authority’s central system, streamlining data management. This was followed by Resolution No. 58 which provided clear rules for the establishment and licensing of new entities.

Further solidifying the regulatory landscape, Resolution No. 139 of 2023 outlined the necessary technological infrastructure, information systems and robust security measures required for leveraging FinTech in non-banking financial activities. A standout measure, Resolution No. 140 of 2023, represents a pioneering regulatory decision from a financial sector oversight body. It precisely defines the requirements for digital identity, digital contracts, digital records, and the scope of FinTech use in non-banking financial activities, including compliance requirements for electronic customer identification. Additionally, Resolution No. 141 of 2023 established a dedicated register for outsourcing in FinTech, enabling specialized firms to provide essential electronic customer identification and contract record services to financial companies operating in the field.

Rounding out these key regulatory advancements, Resolution No. 57 was issued to regulate the operations of Robo-advisors. Finally, Resolution No. 268 notably permits the establishment of new FinTech startups with a capital of EGP 15 million specifically for conducting non-banking financing activities through technology.

Dr. Mohamed Farid highlighted the rapid and revolutionary advancements in Artificial Intelligence (AI). He emphasized the critical need for financial institutions and markets to enhance their capabilities to harness these developments effectively. Dr. Farid cautioned that technological progress inevitably introduces risks, underscoring the necessity of elevating preparedness and readiness. This proactive approach aims to cultivate a resilient non-banking financial sector that can effectively capitalize on technological innovations while managing associated risks efficiently.  FRA recognized that true transformation had to begin internally. To this end, the Authority has forged strategic partnerships to bolster its technological infrastructure. Key internal developments include the creation of a digital professionals’ platform and the establishment of a central registry for digital contracts and electronic signatures.

These concerted efforts have yielded tangible results across the non-banking financial sector. So far, 70 companies have embarked on digitizing their services, with 24 already delivering services digitally and 46 actively fulfilling the necessary requirements. Additionally, seven companies now offer FinTech outsourcing services; four are registered in FRA’s registry, and three more are completing their registration. This push has facilitated approximately 120,000 digital verification operations, with 60% in the capital market and the remainder in non-banking financial activities. To date, 80,000 digital contracts have been issued.

Dr. Farid also underscored FRA’s continuous efforts and commitment to support companies’ growth. This support is grounded in intangible asset valuation standards and the Authority’s introduction of operating rules for Special Purpose Acquisition Companies (SPACs). These measures led to the establishment of Egypt’s first venture capital SPAC, formed under FRA Board of Directors Resolution No. 2323 of 2024, which is now listed on the Egyptian Exchange. Furthermore, FRA has issued valuation standards specifically for startups.

Dr. Mohamed Farid, FRA Chairman announced a significant step to support technology-driven startups offering non-banking financial services. He revealed that FRA’s Board of Directors issued Resolution No. 163 of 2024, authorizing the establishment and operation of FRA’s Regulatory Sandbox. This innovative sandbox will allow practitioners in non-banking financial activities, as well as entities listed or seeking to be listed on FRA’s FinTech outsourcing register, to test innovative financial technology applications, including business models and related mechanisms.

FRA’s Sandbox aims to facilitate the market entry of startups with smart digital solutions and enhance regulatory understanding of FinTech. It will also improve regulatory practices to support sustainable and inclusive financial growth, while boosting innovation within the non-banking financial sector. FRA’s continuous efforts are focused on creating a favorable regulatory environment that supports innovative financing, investment and insurance solutions for individuals and businesses.

Dr. Farid added that the Authority is committed to keep pace with unprecedented technological advancements, always prioritizing the interests of consumers. This involves fostering an interactive environment among companies providing smart solutions for non-banking financial institutions, research centers, universities, business incubators, accelerators, investors and global technology firms.

He explained that this Sandbox will also help FRA achieve its vision of supporting and encouraging innovation in non-banking financial services. Simultaneously, it will work to ensure consumers benefit from emerging technologies while upholding regulatory standards. Ultimately, FRA’s Sandbox will assist startups in gaining investor trust and attracting capital, fostering an interactive environment geared towards sustainable growth.

In a significant move to propel FinTech innovation, FRA Chairman announced the official launch of FRA’s Sandbox website: https://frasandbox.com. This new platform will serve as a central hub for information on sandbox activities and services, allowing stakeholders to track its progress in facilitating innovative FinTech applications. This initiative further solidifies FRA’s commitment to support digital-first startups offering non-banking financial services.

Dr. Farid outlined the diverse ecosystem of development partners collaborating with the Regulatory Sandbox, including regulatory and supervisory bodies, academic and research institutions, startups, business incubators and accelerators, financial institutions, technology providers, consumers and investors.

When discussing eligibility criteria for joining the Regulatory Sandbox, Dr. Farid emphasized several key requirements: a company’s innovation must be original within the Egyptian non-banking financial sector, ready for implementation and demonstrably improve market efficiency. Moreover, it must enhance consumer benefit and protection, all supported by a robust feasibility study and an effective plan.

The application process is streamlined: it begins with submitting a proposal, followed by a review, approval and a rigorous testing period. The process culminates in an evaluation which can lead to market entry, an extended testing phase or a rejection of the application.

FRA Chairman also highlighted the comprehensive services offered by FRA Sandbox platform which include the Regulatory  Sandbox itself, innovation programs and competitions (hackathons), regulatory guidance and a marketplace for the FinTech ecosystem. Dr. Farid unveiled the first-ever hackathon launched through the Regulatory Sandbox in partnership with Mercatura Forum. The competition will unfold in three stages: a national phase in August, a continental phase in September, and a global phase in October. Full details and registration for the national phase will be announced on August 1^st  via the platform, with a total prize pool of $300,000. Additionally, details and registration for insurance technology-focused hackathons, in partnership with AUC Vlab through the Regulatory Sandbox, will be announced on September 1^st.

 FRA Chairman outlined ambitious future plans aimed at achieving exceptional results and adding significant value to the national economy. These include issuing regulatory rules for digital platforms facilitating investment in real estate investment fund certificates, which will be followed by equities and fixed-income instruments. Other strategic goals include simplifying the procedures for participation in venture capital companies and funds through a phased approach, streamlining procedures for disposing of unpaid securities and opening the field to all legal forms of investment funds. The latter will necessitate legislative amendments that FRA will be working on in the upcoming period

مؤتمرات و ندوات

Press Releases

Tax Authority’s E-commerce Unit Participates in FRA Fintech Forum Wednesday 23 July 2025

The Egyptian Tax Authority’s E-commerce Unit recently took part in FRA Fintech Forum 2025, an event organized by the Financial Regulatory Authority (FRA). This participation aligns with FRA’s strategic goals to foster partnerships, engage market stakeholders, and understand the challenges and opportunities within the digital and fintech sectors, all aimed at bolstering the national economy.

Minister of Finance, Ahmed Kouchouk, delivered the forum’s opening address. He highlighted the Ministry’s and the Tax Authority’s drive to accelerate digital transformation and elevate tax services, especially for startups and e-commerce businesses. Kouchouk reiterated the government’s dedication to create an innovation-friendly environment through a range of tax incentives and facilitations.

Kouchouk explained that the E-commerce Unit’s participation aligns with Egypt’s broader push to enhance financial and tax inclusion and activate collaborations with key players in the digital economy.

The Unit’s booth at the forum was a hub for engaging discussions with fintech innovators. Tax Authority representatives addressed numerous inquiries, providing clarity on simplified tax compliance, electronic registration procedures and the facilitations available for both local and international startups and digital platforms. The team offered essential technical and awareness support, aiming to boost tax literacy and seamlessly integrate state initiatives with market demands.

FRA Chairman Witnesses MoU Signings Between FRA Sandbox and Key FinTech Stakeholders – Wednesday 23 July 2025

• The signing ceremony took place during the official launch of FRA Sandbox at FRA FinTech Forum 2025.
• The Memoranda of Understanding (MoUs) aim to develop new technological solutions in various fields, enhance data exchange and electronic linkage between relevant parties.

Dr. Mohamed Farid,  FRA Chairman:

• These MoUs are a practical step towards enhancing public-private partnerships and speeding up digital transformation in non-banking financial markets.
• The Authority is committed to support FinTech entrepreneurship environment, providing comprehensive technical and regulatory assistance.

Dr. Mohamed Farid, FRA Chairman officially launched FRA Sandbox at FRA FinTech Forum 2025. This significant event witnessed the signing of several Memoranda of Understanding (MoUs) between the Sandbox and leading players in the FinTech sector. The forum, organized by FRA, aims to foster innovation and strengthen collaboration between regulators and companies in this dynamic industry.

These strategic MoUs are designed to develop cutting-edge technological solutions across various FinTech domains and drive the digital transformation of the non-banking financial sector. A key objective is also to improve data exchange and electronic connectivity among all relevant parties. FRA is dedicated to stay ahead of rapid FinTech advancements, creating a supportive regulatory environment for innovation while simultaneously protecting investor rights, boosting market efficiency and stability and improving user access to non-banking financial services.

The Memoranda of Understanding (MoUs) signed during the forum span several critical areas, formalizing partnerships with various entities. These include Innovation Partners such as AUC Venture Lab, Techne, Mercatura Forum, Tech Fin and Plug & Play Egypt. On the other hand, the Technological Infrastructure Partners involved are E-Finance for Digital Operations, GIG Insurance Company and the Insurance Federation of Egypt. Lastly, the Investment Partners collaborating with the Regulatory Sandbox are the Egyptian Institute of Accountants and Auditors (EIAA) and Dr. Khaled Abdelaziz Hegazy Accounting, Auditing and Financial & Tax Consulting Office.

In his address at the forum, Dr. Farid emphasized that FinTech is a cornerstone for enhancing financial, investment and insurance inclusion, as well as significantly boosting operational efficiency. He highlighted FRA’s ongoing efforts to develop robust regulatory and legislative frameworks that will nurture the growth of this sector. Furthermore, he underscored the importance of strengthening collaboration with all partners to achieve the desired digital transformation within non-banking financial services.

FRA Board of Directors has established and launched a Regulatory Sandbox for Technological Applications, formalized by Resolution No. 163 of 2024. Officially inaugurated during the forum, this Sandbox provides a crucial platform for both existing non-banking financial service providers and entities on FRA’s FinTech outsourcing register to test innovative FinTech applications, business models and related mechanisms.

The Sandbox is set to significantly enhance FRA’s efforts in supporting technology-driven startups that offer non-banking financial services, thereby boosting innovation across the entire non-banking financial sector.

The signed MoUs represent a tangible move towards strengthening public-private partnerships and accelerating digital transformation in financial markets. These agreements are expected to drive innovation and expand financial inclusion, making funding and services more accessible to everyone.

FRA Chairman Highlights Key Digital Transformation Efforts in NBFS at FRA Fintech Forum – Tuesday 22 July 2025

Dr. Mohamed Farid- FRA Chairman:

• Digitalization is the foundation of economic progress worldwide and Egypt is fully embracing this global digital transformation.
• The main objective of digitizing non-banking financial transactions is to maximize benefits for citizens and clients.
• The rapid advancement in Artificial Intelligence underscores the critical need to enhance the capabilities of companies and markets within our financial landscape.
• Significant progress has been made, with 7 companies now providing outsourcing services and 70 companies in the non-banking financial sector having started offering their services digitally.
• 80,000 digital contracts have been issued and 120,000 digital verification operations have been performed, 60% of which are in the capital market and the rest in non-banking financing activities.
• The official launch of FRA’s Sandbox was announced today.
• FRA’s Sandbox will empower practitioners in non-banking financial activities to leverage financial technology and conduct rigorous testing on innovative FinTech applications.

During FRA Fintech Forum 2025, Dr. Mohamed Farid, FRA Chairman presented the Authority’s extensive efforts to digitize non-banking financial services. This strategic initiative, underpinned by new legislation and regulations, aims to attract greater investment and bolster the national economy.

Dr. Farid underscored that digitalization is the global cornerstone of economic progress. He highlighted compelling statistics: approximately 64% of consumers worldwide now use digital applications daily, and nearly 80% of adults engage with digital financial services. This rapid shift has prompted over 60 countries to establish digital finance regulatory platforms, making it crucial for Egypt to keep pace.

“Egypt holds a strong position in this evolving landscape,” Dr. Farid stated, “driven by a large base of smartphone users with an average age under 24. This reflects a significant uptake of digital and technological services, a trend consistently supported by our political leadership, including His Excellency President Abdel Fattah El-Sisi.”

The primary objective of this digital transformation is to maximize the benefits of non-banking financial services for both citizens and clients. Dr. Farid detailed FRA’s proactive legislative journey, which began with Resolution No. 122 of 2014, regulating the electronic distribution of standard insurance policies. This was followed by Resolution No. 316 of 2014, addressing technological infrastructure requirements in the non-banking financial sector and Resolution No. 1005 of 2013 which set standards for technological infrastructure and information security systems for brokerage firms.

The non-banking financial sector has recently witnessed a significant acceleration in its digital transformation, a momentum driven by  FRA’s issuance of a comprehensive package of executive decisions. These decisions operationalize Law No. 5 of 2022, a pivotal piece of legislation that established the overarching regulatory and legislative framework for fostering and governing technology’s use within non-banking financial activities and services. Building on this foundational law, FRA has since rolled out a series of critical resolutions. Resolution No. 69 mandated the digitalization and direct integration of insurance companies’ databases with the Authority’s central system, streamlining data management. This was followed by Resolution No. 58 which provided clear rules for the establishment and licensing of new entities.

Further solidifying the regulatory landscape, Resolution No. 139 of 2023 outlined the necessary technological infrastructure, information systems and robust security measures required for leveraging FinTech in non-banking financial activities. A standout measure, Resolution No. 140 of 2023, represents a pioneering regulatory decision from a financial sector oversight body. It precisely defines the requirements for digital identity, digital contracts, digital records, and the scope of FinTech use in non-banking financial activities, including compliance requirements for electronic customer identification. Additionally, Resolution No. 141 of 2023 established a dedicated register for outsourcing in FinTech, enabling specialized firms to provide essential electronic customer identification and contract record services to financial companies operating in the field.

Rounding out these key regulatory advancements, Resolution No. 57 was issued to regulate the operations of Robo-advisors. Finally, Resolution No. 268 notably permits the establishment of new FinTech startups with a capital of EGP 15 million specifically for conducting non-banking financing activities through technology.

Dr. Mohamed Farid highlighted the rapid and revolutionary advancements in Artificial Intelligence (AI). He emphasized the critical need for financial institutions and markets to enhance their capabilities to harness these developments effectively. Dr. Farid cautioned that technological progress inevitably introduces risks, underscoring the necessity of elevating preparedness and readiness. This proactive approach aims to cultivate a resilient non-banking financial sector that can effectively capitalize on technological innovations while managing associated risks efficiently.  FRA recognized that true transformation had to begin internally. To this end, the Authority has forged strategic partnerships to bolster its technological infrastructure. Key internal developments include the creation of a digital professionals’ platform and the establishment of a central registry for digital contracts and electronic signatures.

These concerted efforts have yielded tangible results across the non-banking financial sector. So far, 70 companies have embarked on digitizing their services, with 24 already delivering services digitally and 46 actively fulfilling the necessary requirements. Additionally, seven companies now offer FinTech outsourcing services; four are registered in FRA’s registry, and three more are completing their registration. This push has facilitated approximately 120,000 digital verification operations, with 60% in the capital market and the remainder in non-banking financial activities. To date, 80,000 digital contracts have been issued.

Dr. Farid also underscored FRA’s continuous efforts and commitment to support companies’ growth. This support is grounded in intangible asset valuation standards and the Authority’s introduction of operating rules for Special Purpose Acquisition Companies (SPACs). These measures led to the establishment of Egypt’s first venture capital SPAC, formed under FRA Board of Directors Resolution No. 2323 of 2024, which is now listed on the Egyptian Exchange. Furthermore, FRA has issued valuation standards specifically for startups.

Dr. Mohamed Farid, FRA Chairman announced a significant step to support technology-driven startups offering non-banking financial services. He revealed that FRA’s Board of Directors issued Resolution No. 163 of 2024, authorizing the establishment and operation of FRA’s Regulatory Sandbox. This innovative sandbox will allow practitioners in non-banking financial activities, as well as entities listed or seeking to be listed on FRA’s FinTech outsourcing register, to test innovative financial technology applications, including business models and related mechanisms.

FRA’s Sandbox aims to facilitate the market entry of startups with smart digital solutions and enhance regulatory understanding of FinTech. It will also improve regulatory practices to support sustainable and inclusive financial growth, while boosting innovation within the non-banking financial sector. FRA’s continuous efforts are focused on creating a favorable regulatory environment that supports innovative financing, investment and insurance solutions for individuals and businesses.

Dr. Farid added that the Authority is committed to keep pace with unprecedented technological advancements, always prioritizing the interests of consumers. This involves fostering an interactive environment among companies providing smart solutions for non-banking financial institutions, research centers, universities, business incubators, accelerators, investors and global technology firms.

He explained that this Sandbox will also help FRA achieve its vision of supporting and encouraging innovation in non-banking financial services. Simultaneously, it will work to ensure consumers benefit from emerging technologies while upholding regulatory standards. Ultimately, FRA’s Sandbox will assist startups in gaining investor trust and attracting capital, fostering an interactive environment geared towards sustainable growth.

In a significant move to propel FinTech innovation, FRA Chairman announced the official launch of FRA’s Sandbox website: https://frasandbox.com. This new platform will serve as a central hub for information on sandbox activities and services, allowing stakeholders to track its progress in facilitating innovative FinTech applications. This initiative further solidifies FRA’s commitment to support digital-first startups offering non-banking financial services.

Dr. Farid outlined the diverse ecosystem of development partners collaborating with the Regulatory Sandbox, including regulatory and supervisory bodies, academic and research institutions, startups, business incubators and accelerators, financial institutions, technology providers, consumers and investors.

When discussing eligibility criteria for joining the Regulatory Sandbox, Dr. Farid emphasized several key requirements: a company’s innovation must be original within the Egyptian non-banking financial sector, ready for implementation and demonstrably improve market efficiency. Moreover, it must enhance consumer benefit and protection, all supported by a robust feasibility study and an effective plan.

The application process is streamlined: it begins with submitting a proposal, followed by a review, approval and a rigorous testing period. The process culminates in an evaluation which can lead to market entry, an extended testing phase or a rejection of the application.

FRA Chairman also highlighted the comprehensive services offered by FRA Sandbox platform which include the Regulatory  Sandbox itself, innovation programs and competitions (hackathons), regulatory guidance and a marketplace for the FinTech ecosystem. Dr. Farid unveiled the first-ever hackathon launched through the Regulatory Sandbox in partnership with Mercatura Forum. The competition will unfold in three stages: a national phase in August, a continental phase in September, and a global phase in October. Full details and registration for the national phase will be announced on August 1^st  via the platform, with a total prize pool of $300,000. Additionally, details and registration for insurance technology-focused hackathons, in partnership with AUC Vlab through the Regulatory Sandbox, will be announced on September 1^st.

 FRA Chairman outlined ambitious future plans aimed at achieving exceptional results and adding significant value to the national economy. These include issuing regulatory rules for digital platforms facilitating investment in real estate investment fund certificates, which will be followed by equities and fixed-income instruments. Other strategic goals include simplifying the procedures for participation in venture capital companies and funds through a phased approach, streamlining procedures for disposing of unpaid securities and opening the field to all legal forms of investment funds. The latter will necessitate legislative amendments that FRA will be working on in the upcoming period

FRA in the News

القرية الذكية- 10 نوفمبر 2020 : د. عمران بصفته رئيساً لمجلس إدارة معهد الخدمات المالية يوقع اتفاقاً مع معهد دراسات البورصة IEB الإسباني لمنح درجة الماجستير في الأسواق المالية بحضور السفير الإسباني بالقاهرة ،وسفيرنا في مدريد عبر تقنية الفيديو كونفرس

Tax Authority’s E-commerce Unit Participates in FRA Fintech Forum Wednesday 23 July 2025

The Egyptian Tax Authority’s E-commerce Unit recently took part in FRA Fintech Forum 2025, an event organized by the Financial Regulatory Authority (FRA). This participation aligns with FRA’s strategic goals to foster partnerships, engage market stakeholders, and understand the challenges and opportunities within the digital and fintech sectors, all aimed at bolstering the national economy.

Minister of Finance, Ahmed Kouchouk, delivered the forum’s opening address. He highlighted the Ministry’s and the Tax Authority’s drive to accelerate digital transformation and elevate tax services, especially for startups and e-commerce businesses. Kouchouk reiterated the government’s dedication to create an innovation-friendly environment through a range of tax incentives and facilitations.

Kouchouk explained that the E-commerce Unit’s participation aligns with Egypt’s broader push to enhance financial and tax inclusion and activate collaborations with key players in the digital economy.

The Unit’s booth at the forum was a hub for engaging discussions with fintech innovators. Tax Authority representatives addressed numerous inquiries, providing clarity on simplified tax compliance, electronic registration procedures and the facilitations available for both local and international startups and digital platforms. The team offered essential technical and awareness support, aiming to boost tax literacy and seamlessly integrate state initiatives with market demands.