الهيئة العامة للرقابة المالية

أحداث وفاعليات الهيئة

FRA Grants Initial Approval for Two New Insurance Projects to Join Fintech Sandbox – Tuesday 28 July 2026

Dr. Islam Azzam – FRA Chairman:

• Innovative solutions diversify insurance products and enhance customer experience.
• The number of projects granted initial approval for the Sandbox rises to seven in its first year.

Financial Regulatory Authority (FRA), through its Fintech Committee, has granted initial approval for two new projects to join its regulatory sandbox. The initiatives will test the application of artificial intelligence (AI) in developing insurance services, aligned with FRA’s ongoing efforts to foster innovation and support fintech solutions across non-banking financial activities prior to commercial launch.

The initial approval includes a project submitted by EG InsurTech (for electronic applications, systems and software services), in collaboration with Assurex Insurance Brokerage, to test “Ameen” AI Assistant for Insurance Platforms.

Additionally, the Authority granted in-principle approval to Allianz Insurance – Egypt, in partnership with Olemy, to test an “AI Voice Agent & Chatbot Platform.”

Dr. Islam Azzam, FRA Chairman reaffirmed the Authority’s commitment to provide institutional and technical support for innovative technological solutions that advance the non-banking financial sector. He highlighted FRA’s pivotal role in cultivating a flexible regulatory framework that keeps pace with global advancements in fintech and AI, while safeguarding market integrity, stability and consumer rights.

FRA Chairman emphasized the importance of backing projects that aim to enhance interaction between financial firms and their clients through digital platforms. He noted that leveraging AI tools enables better analysis of customer trends, preferences, grievances and product demand—generating key indicators to elevate service efficiency and help clients select insurance coverage tailored to their needs.

Eng. Ahmed Khalifa, Executive Director of FRA Sandbox, stated that approving these two new projects brings the total number of provisionally accepted initiatives to seven within the sandbox’s debut year. He emphasized that this milestone underscores the Authority’s dedication to nurture technological innovation and provide a secure testing environment for new financial solutions, thereby accelerating digital transformation and bolstering financial inclusion. He added that the insurance sector remains the most represented segment among sandbox applicants, reflecting its drive to optimize business management and product efficiency.

Prior to these two projects, five other initiatives received provisional approval: namely, GIG and Orient (in collaboration with EG InsurTech) in the insurance domain; Cassbana in digital brokerage for microfinance;

Lumin Soft, in partnership with Azimut, for foreign identity verification via e-passports.

FRA Sandbox provided regulatory guidance to approximately 40 companies, reviewing their concepts and offering tailored mentorship on regulatory compliance and admission criteria within the non-banking financial framework. Furthermore, the Sandbox hosted a series of workshops and seminars focused on strengthening cybersecurity awareness and promoting the digitization of financial solutions.

FRA Denies Rumors Concerning Branch Closures Across Non-Banking Financial Entities – Monday 27 July 2026

Financial Regulatory Authority (FRA) chaired by Dr. Islam Azzam has detected several social media pages and accounts spreading false and misleading news. These accounts have attributed fabricated decisions regarding the non-banking financial sector to the Authority, constituting a grave manipulation of public awareness and posing a threat to the interests of clients and operating entities within the sector.

The Authority categorically denies circulating reports claiming that a decision was issued to close branches or suspend operations for non-banking financial companies, associations and institutions.

Furthermore, the Authority warns that publishing and spreading such rumors exposes those responsible to legal liability.

Building Capabilities Core to Non-Banking Market Growth, Affirms FRA Chairman at IPO Training Launch – Sunday 26 July 2026

• • The training program is a national initiative to achieve state objectives and a new model for specialized training in Egypt.
  • Thousands of professionals and executive leaders benefit from programs by the Financial Services Institute and the Egyptian Institute of Directors.
  • The diversity of sectors and sizes among IPO candidates points to expanding investment opportunities for investors soon.
  • The success of the IPO program enhances asset management efficiency and boosts the competitiveness of the national economy.
  • The Egyptian Exchange has proven to be a safe investment haven with growing attractiveness even under the toughest regional conditions.

  Dr. Islam Azzam, FRA Chairman stated that the specialized training program launched by the Authority today to build the IPO readiness of state-owned enterprises (SOEs) exemplifies institutional integration to advance non-banking financial activities. Awareness and capacity building are integral components of the FRA’s statutory mandates under Law No. 10 of 2009, which tasks the Authority with expanding financial literacy and fostering highly qualified market professionals.

  He made the statement during his opening address at FRA headquarters alongside key leadership, including Investment Minister Dr. Mohamed Farid Saleh, Assistant Prime Minister and State-Owned Enterprises Unit CEO Dr. Hashem El-Sayed, and EGX Chairman Mr. Omar Radwan. Senior officials from the FRA and EGX, as well as state-owned enterprise executives, attended the event prior to the launch of the program’s first cycle by FRA’s training arms, FSI and EIoD.

  Dr.  Islam Azzam highlighted that FSI and EIoD play a pivotal role in spreading financial literacy across FRA-regulated sectors, as well as among professionals in investment, capital markets, insurance, and finance. In the past year alone, the two institutes conducted over 90 training programs, benefiting thousands of professionals, board members, executive managers, risk officers, HR specialists and IT leaders over the years.

He added that in addition to being the first national initiative to support the government IPO program, this training represents a new paradigm for specialized executive education in Egypt. Its success relies on the FRA’s accumulated training expertise, diverse subject matter, and instructors who possess deep knowledge of regulatory frameworks and international best practices under the latest legislative updates.

FRA Chairman expressed the Authority’s readiness to support private sector capacity building through similar intensive programs. He noted that the initiative aims to expand the pool of Egyptian specialists trained in listing and public offering procedures, emphasizing that private sector companies can always leverage the wide array of training offerings provided by the FSI and EIoD.

Dr. Islam Azzam emphasized FRA’s commitment to measure the program’s impact on its target audience, which includes board chairpersons, board members, chief executive officers, chief financial officers, head accountants, disclosure and investor relations officers, governance and internal audit leaders, and executives managing listing files.

He underscored key progress indicators in the government IPO initiative, guided by the State Ownership Policy Document and Law No. 170 of 2025. Notably, the State-Owned Enterprises Unit, chaired by Dr. Hashem El-Sayed, successfully completed the provisional listing of 20 state-owned enterprises spanning diverse sectors and varying significantly in scale. This sector diversity underscores the breadth of opportunities available to domestic and foreign investors while signaling the state’s firm commitment to the IPO program.

Dr. Islam Azzam pointed to the second edition of the State Ownership Policy Document, which reinforces a clear strategy for identifying IPO-ready companies while ensuring strict adherence to governance, disclosure, and transparency standards. FRA is actively working to guarantee company readiness, operating under the principle that successful offerings begin with capacity building.

He noted that the government IPO program serves as a primary avenue for implementing the State Ownership Policy Document. Its key objectives include enhancing asset management efficiency, expanding ownership bases, attracting strategic investors capable of driving corporate growth, boosting market capitalization, and deepening the capital market—outcomes that will directly elevate the national economy’s competitiveness. This is particularly vital as the Egyptian Exchange continues to prove itself as a resilient investment safe haven with growing attractiveness, even amidst challenging regional conditions.

Regarding the immediate objectives of the program, Dr. Islam Azzam stated that the Financial Regulatory Authority (FRA), through full coordination with the State-Owned Enterprises Unit and the Egyptian Exchange (EGX), aims to transfer top-tier expertise and best practices to target entities. This aims to accelerate their fulfillment of listing and offering requirements in accordance with the latest regulatory frameworks, ensuring long-term, post-listing compliance.

This commitment is reflected in the curriculum’s methodology, which leads participants through an immersive, end-to-end simulation—from initial provisional listing to full public offering and post-IPO compliance. Spanning seven integrated pillars, the program covers the legislative and regulatory frameworks governing capital markets, listing mechanisms, financial and accounting readiness, governance and sustainability standards, disclosure protocols and prospectus preparation, public offering execution and post-listing obligations.

مؤتمرات و ندوات

Press Releases

FRA Grants Initial Approval for Two New Insurance Projects to Join Fintech Sandbox – Tuesday 28 July 2026

Dr. Islam Azzam – FRA Chairman:

• Innovative solutions diversify insurance products and enhance customer experience.
• The number of projects granted initial approval for the Sandbox rises to seven in its first year.

Financial Regulatory Authority (FRA), through its Fintech Committee, has granted initial approval for two new projects to join its regulatory sandbox. The initiatives will test the application of artificial intelligence (AI) in developing insurance services, aligned with FRA’s ongoing efforts to foster innovation and support fintech solutions across non-banking financial activities prior to commercial launch.

The initial approval includes a project submitted by EG InsurTech (for electronic applications, systems and software services), in collaboration with Assurex Insurance Brokerage, to test “Ameen” AI Assistant for Insurance Platforms.

Additionally, the Authority granted in-principle approval to Allianz Insurance – Egypt, in partnership with Olemy, to test an “AI Voice Agent & Chatbot Platform.”

Dr. Islam Azzam, FRA Chairman reaffirmed the Authority’s commitment to provide institutional and technical support for innovative technological solutions that advance the non-banking financial sector. He highlighted FRA’s pivotal role in cultivating a flexible regulatory framework that keeps pace with global advancements in fintech and AI, while safeguarding market integrity, stability and consumer rights.

FRA Chairman emphasized the importance of backing projects that aim to enhance interaction between financial firms and their clients through digital platforms. He noted that leveraging AI tools enables better analysis of customer trends, preferences, grievances and product demand—generating key indicators to elevate service efficiency and help clients select insurance coverage tailored to their needs.

Eng. Ahmed Khalifa, Executive Director of FRA Sandbox, stated that approving these two new projects brings the total number of provisionally accepted initiatives to seven within the sandbox’s debut year. He emphasized that this milestone underscores the Authority’s dedication to nurture technological innovation and provide a secure testing environment for new financial solutions, thereby accelerating digital transformation and bolstering financial inclusion. He added that the insurance sector remains the most represented segment among sandbox applicants, reflecting its drive to optimize business management and product efficiency.

Prior to these two projects, five other initiatives received provisional approval: namely, GIG and Orient (in collaboration with EG InsurTech) in the insurance domain; Cassbana in digital brokerage for microfinance;

Lumin Soft, in partnership with Azimut, for foreign identity verification via e-passports.

FRA Sandbox provided regulatory guidance to approximately 40 companies, reviewing their concepts and offering tailored mentorship on regulatory compliance and admission criteria within the non-banking financial framework. Furthermore, the Sandbox hosted a series of workshops and seminars focused on strengthening cybersecurity awareness and promoting the digitization of financial solutions.

FRA Denies Rumors Concerning Branch Closures Across Non-Banking Financial Entities – Monday 27 July 2026

Financial Regulatory Authority (FRA) chaired by Dr. Islam Azzam has detected several social media pages and accounts spreading false and misleading news. These accounts have attributed fabricated decisions regarding the non-banking financial sector to the Authority, constituting a grave manipulation of public awareness and posing a threat to the interests of clients and operating entities within the sector.

The Authority categorically denies circulating reports claiming that a decision was issued to close branches or suspend operations for non-banking financial companies, associations and institutions.

Furthermore, the Authority warns that publishing and spreading such rumors exposes those responsible to legal liability.

Building Capabilities Core to Non-Banking Market Growth, Affirms FRA Chairman at IPO Training Launch – Sunday 26 July 2026

• • The training program is a national initiative to achieve state objectives and a new model for specialized training in Egypt.
  • Thousands of professionals and executive leaders benefit from programs by the Financial Services Institute and the Egyptian Institute of Directors.
  • The diversity of sectors and sizes among IPO candidates points to expanding investment opportunities for investors soon.
  • The success of the IPO program enhances asset management efficiency and boosts the competitiveness of the national economy.
  • The Egyptian Exchange has proven to be a safe investment haven with growing attractiveness even under the toughest regional conditions.

  Dr. Islam Azzam, FRA Chairman stated that the specialized training program launched by the Authority today to build the IPO readiness of state-owned enterprises (SOEs) exemplifies institutional integration to advance non-banking financial activities. Awareness and capacity building are integral components of the FRA’s statutory mandates under Law No. 10 of 2009, which tasks the Authority with expanding financial literacy and fostering highly qualified market professionals.

  He made the statement during his opening address at FRA headquarters alongside key leadership, including Investment Minister Dr. Mohamed Farid Saleh, Assistant Prime Minister and State-Owned Enterprises Unit CEO Dr. Hashem El-Sayed, and EGX Chairman Mr. Omar Radwan. Senior officials from the FRA and EGX, as well as state-owned enterprise executives, attended the event prior to the launch of the program’s first cycle by FRA’s training arms, FSI and EIoD.

  Dr.  Islam Azzam highlighted that FSI and EIoD play a pivotal role in spreading financial literacy across FRA-regulated sectors, as well as among professionals in investment, capital markets, insurance, and finance. In the past year alone, the two institutes conducted over 90 training programs, benefiting thousands of professionals, board members, executive managers, risk officers, HR specialists and IT leaders over the years.

He added that in addition to being the first national initiative to support the government IPO program, this training represents a new paradigm for specialized executive education in Egypt. Its success relies on the FRA’s accumulated training expertise, diverse subject matter, and instructors who possess deep knowledge of regulatory frameworks and international best practices under the latest legislative updates.

FRA Chairman expressed the Authority’s readiness to support private sector capacity building through similar intensive programs. He noted that the initiative aims to expand the pool of Egyptian specialists trained in listing and public offering procedures, emphasizing that private sector companies can always leverage the wide array of training offerings provided by the FSI and EIoD.

Dr. Islam Azzam emphasized FRA’s commitment to measure the program’s impact on its target audience, which includes board chairpersons, board members, chief executive officers, chief financial officers, head accountants, disclosure and investor relations officers, governance and internal audit leaders, and executives managing listing files.

He underscored key progress indicators in the government IPO initiative, guided by the State Ownership Policy Document and Law No. 170 of 2025. Notably, the State-Owned Enterprises Unit, chaired by Dr. Hashem El-Sayed, successfully completed the provisional listing of 20 state-owned enterprises spanning diverse sectors and varying significantly in scale. This sector diversity underscores the breadth of opportunities available to domestic and foreign investors while signaling the state’s firm commitment to the IPO program.

Dr. Islam Azzam pointed to the second edition of the State Ownership Policy Document, which reinforces a clear strategy for identifying IPO-ready companies while ensuring strict adherence to governance, disclosure, and transparency standards. FRA is actively working to guarantee company readiness, operating under the principle that successful offerings begin with capacity building.

He noted that the government IPO program serves as a primary avenue for implementing the State Ownership Policy Document. Its key objectives include enhancing asset management efficiency, expanding ownership bases, attracting strategic investors capable of driving corporate growth, boosting market capitalization, and deepening the capital market—outcomes that will directly elevate the national economy’s competitiveness. This is particularly vital as the Egyptian Exchange continues to prove itself as a resilient investment safe haven with growing attractiveness, even amidst challenging regional conditions.

Regarding the immediate objectives of the program, Dr. Islam Azzam stated that the Financial Regulatory Authority (FRA), through full coordination with the State-Owned Enterprises Unit and the Egyptian Exchange (EGX), aims to transfer top-tier expertise and best practices to target entities. This aims to accelerate their fulfillment of listing and offering requirements in accordance with the latest regulatory frameworks, ensuring long-term, post-listing compliance.

This commitment is reflected in the curriculum’s methodology, which leads participants through an immersive, end-to-end simulation—from initial provisional listing to full public offering and post-IPO compliance. Spanning seven integrated pillars, the program covers the legislative and regulatory frameworks governing capital markets, listing mechanisms, financial and accounting readiness, governance and sustainability standards, disclosure protocols and prospectus preparation, public offering execution and post-listing obligations.

FRA in the News

Smart Village – 10 November 2020

Dr. Mohamed Omran, in his capacity as Chairman of the Board of Trustees of the Financial Services Institute, signed a cooperation agreement with the Spanish Institute of Stock Exchange Studies (IEB) to offer a Master’s Degree in Financial Markets.

The signing ceremony was attended by the Spanish Ambassador to Egypt, as well as Egypt’s Ambassador to Spain, who participated via video conference.

FRA Grants Initial Approval for Two New Insurance Projects to Join Fintech Sandbox – Tuesday 28 July 2026

Dr. Islam Azzam – FRA Chairman:

• Innovative solutions diversify insurance products and enhance customer experience.
• The number of projects granted initial approval for the Sandbox rises to seven in its first year.

Financial Regulatory Authority (FRA), through its Fintech Committee, has granted initial approval for two new projects to join its regulatory sandbox. The initiatives will test the application of artificial intelligence (AI) in developing insurance services, aligned with FRA’s ongoing efforts to foster innovation and support fintech solutions across non-banking financial activities prior to commercial launch.

The initial approval includes a project submitted by EG InsurTech (for electronic applications, systems and software services), in collaboration with Assurex Insurance Brokerage, to test “Ameen” AI Assistant for Insurance Platforms.

Additionally, the Authority granted in-principle approval to Allianz Insurance – Egypt, in partnership with Olemy, to test an “AI Voice Agent & Chatbot Platform.”

Dr. Islam Azzam, FRA Chairman reaffirmed the Authority’s commitment to provide institutional and technical support for innovative technological solutions that advance the non-banking financial sector. He highlighted FRA’s pivotal role in cultivating a flexible regulatory framework that keeps pace with global advancements in fintech and AI, while safeguarding market integrity, stability and consumer rights.

FRA Chairman emphasized the importance of backing projects that aim to enhance interaction between financial firms and their clients through digital platforms. He noted that leveraging AI tools enables better analysis of customer trends, preferences, grievances and product demand—generating key indicators to elevate service efficiency and help clients select insurance coverage tailored to their needs.

Eng. Ahmed Khalifa, Executive Director of FRA Sandbox, stated that approving these two new projects brings the total number of provisionally accepted initiatives to seven within the sandbox’s debut year. He emphasized that this milestone underscores the Authority’s dedication to nurture technological innovation and provide a secure testing environment for new financial solutions, thereby accelerating digital transformation and bolstering financial inclusion. He added that the insurance sector remains the most represented segment among sandbox applicants, reflecting its drive to optimize business management and product efficiency.

Prior to these two projects, five other initiatives received provisional approval: namely, GIG and Orient (in collaboration with EG InsurTech) in the insurance domain; Cassbana in digital brokerage for microfinance;

Lumin Soft, in partnership with Azimut, for foreign identity verification via e-passports.

FRA Sandbox provided regulatory guidance to approximately 40 companies, reviewing their concepts and offering tailored mentorship on regulatory compliance and admission criteria within the non-banking financial framework. Furthermore, the Sandbox hosted a series of workshops and seminars focused on strengthening cybersecurity awareness and promoting the digitization of financial solutions.