الهيئة العامة للرقابة المالية

FSI Launches a Tour in Assiut to Promote Non-Banking Financial Services –  3 March 2026

• This move toward direct outreach ensures FRA’s impact is felt on the ground.
• Improving citizens’ living standards by raising awareness of micro-project financing opportunities.
• Experts provided practical workshops on micro-insurance.

As part of its social responsibility, Financial Regulatory Authority (FRA) launched a field tour in Assiut through its training arm, the Financial Services Institute (FSI). This move represents a practical shift toward direct citizen engagement, aiming to raise awareness of non-banking financial services (NBFS) as tools for business growth and improved living standards.

This tour aligns with FRA’s strategy to translate theoretical knowledge into tangible local impact. By interacting directly with citizens and civil society organizations, FRA is building bridges of trust between regulators and the community. This collaborative effort involves various FRA departments, including FSI, Awareness and Financial Literacy Department, and Media Center.

The visit featured specialized workshops addressing issues central to citizens’ livelihoods, notably sustainability and the impact of climate change on agricultural productivity. A key focus was sustainable finance mechanisms, particularly carbon credits, introduced as an innovative funding tool to help farmers expand their activities and secure new revenue streams.

Led by Dr. Tarek Seif (Executive Director of FSI), Rasha Kleib (Head of Planning, Follow-up, and Quality Assurance – FSI), and Eng. Omar El-Nemer (Carbon Markets Expert), the delegation focused on the accessibility of micro-finance and micro-insurance. These products are designed to scale existing micro-projects and incentivize new ventures, driving comprehensive development within the governorate.

The sessions witnessed high levels of engagement, with residents inquiring about financing mechanisms, consumer protection guarantees within NBFS markets, and FRA’s regulatory role. Representatives provided transparent, direct answers to reinforce trust and promote the responsible use of financial instruments.

On the sidelines of the tour, a coordination meeting was held with “Al-Afdal Association” – a civil society organization under the Ministry of Social Solidarity. The talks focused on enhancing services for farmers and building the capacity of the association’s staff through specialized training in non-banking finance, positioning the association as a local hub for financial literacy.

The tour extended its reach to children through simplified interactive activities and the distribution of custom-made FRA booklets. These resources aim to instill concepts of saving and financial planning at an early age, reflecting a long-term vision to build a financially literate generation.

FRA confirmed that this tour is the first in a series of planned field visits across Egypt’s governorates. This initiative is rooted in a vision to economically empower citizens, enabling them to utilize non-banking financial services as genuine drivers for sustainable development and a better quality of life.

FRA Enhances Licensing Standards for Key Executives in Non-Banking Finance Companies – Tuesday 3 March 2026

• FRA mandates professional licensure for 14 designated roles to ensure peak competence and technical proficiency across the sector.
• Licenses are valid for three years and renewable subject to ongoing regulatory compliance.
• Companies are required to formally define key roles, competencies, and mandates within their organizational structures
• FRA permits dual-role appointments for multi-licensed entities, allowing one individual to manage key functions across different business lines.
• A six-month grace period is granted for all companies to regularize their status and align with the new decree.

Financial Regulatory Authority (FRA) has enhanced licensing and compliance standards for key executive roles in the non-banking finance companies. This initiative is designed to fortify corporate governance, ensure technical leadership excellence, and bolster the overall competitiveness and service quality of financial institutions.

Issued on February 9, 2026, Decree No. 45 was approved by the Board chaired by Dr. Mohamed Farid, preceding his transition to the Ministry of Investment and Foreign Trade. The measure is part of FRA’s broader mandate to refine the NBFS regulatory landscape, ensuring precise accountability and high-caliber leadership to drive transparency and trust in the financial markets.

The decree encompasses all Non-Banking Finance companies, mandating the inclusion of 14 specialized professional roles within their organizational structure. These key positions – tailored to specific business activities – comprise the Managing Director, CFO, and Managers for Internal Audit, Risk, Compliance, and Operations. The list also features critical oversight roles such as AML/CFT Officers, Regional Credit and Risk Officers, and Managers for Finance Branches, HR, IT, and Legal (real estate Finance).

To optimize operational efficiency, multi-licensed companies may appoint a single officer to oversee a key function across different business lines, pending FRA approval. However, if a company appoints a single Managing Director for multiple activities, it must appoint independent Executive Directors for each activity to maintain balanced oversight and supervisory effectiveness.

Applicants are required to maintain a status of exclusive engagement and must not have been subject to final judicial or disciplinary discharge. Furthermore, eligibility is contingent upon a clear three-year history, devoid of any professional strikes or disciplinary bans affecting their right to practice in non-banking financial activities.

Professional licenses are issued for a three-year term, renewable for subsequent periods contingent upon sustained compliance with all regulatory criteria. To ensure ongoing professional development, FRA may mandate that applicants complete specialized training courses or competency assessments as a prerequisite for renewal.

All licensed individuals are required to notify FRA within 15 days of any significant professional change. This includes new appointments, resignations (stating causes), inter-company transfers, or the disclosure of any criminal judgments rendered against them.

Companies shall maintain auditable records (digital or physical) for all licensed executives. These registers must track key data points, including licensure and renewal history, employment timelines, internal disciplinary measures, and any relevant criminal disclosures.

Vacancies in key roles must be reported immediately and filled within three months. While a search is underway, companies may appoint an interim officer with relevant expertise to ensure continuity of operations.

Additionally, companies must formally notify FRA of any executive vacancy, detailing the cause and the proposed recruitment strategy. For Managing Director vacancies, the Board must appoint an interim successor – either a Board member or a qualified external candidate – subject to FRA interview. A permanent appointment must be finalized within three months, though extensions may be granted upon submission of a valid regulatory justification.

Companies are now mandated to implement formal, Board-approved succession plans for all critical roles. Companies are granted a six-month transitional period to align their organizational structures with these new requirements. This decree enters into force immediately upon its publication in the Official Gazette.

FRA Issues New Controls for Registration, Relocation and Closure of Non-Banking Finance Branches – Monday 2 March 2026

• All activities outside headquarters now require FRA pre-approval.
• Diverse branch classifications introduced to optimize business agility.
• New mandates set for credit structuring and integrated risk management.
• Enhanced registration protocols coupled with rigorous field inspections.
• Entities have a 6-month grace period to align with new standards.

FRA Board of Directors has issued a comprehensive regulatory framework governing the lifecycle of non-banking finance branches. This decree establishes rigorous standards for the registration, relocation, modification, and closure of licensed entities. The initiative is designed to bolster institutional discipline and optimize the geographic footprint of financial services, ensuring that expansion-related risks are meticulously managed to safeguard market stability and consumer rights.

Decree No. 44 of 2026, ratified by the Board chaired by Dr. Mohamed Farid, before his appointment as Minister of Investment and Foreign Trade, prohibits non-banking financial companies (NBFCs) from operating outside their primary headquarters without prior FRA approval and formal registration. This mandate ensures that all geographic expansions undergo a stringent regulatory audit to validate the entity’s operational integrity and credit-risk readiness.

The decree included a clear definition of branch types, including finance branches that carry out all aspects of activity. In addition to marketing branches whose role is limited to promotion and document collection without granting financing or collection , mobile branches through movable units, and seasonal branches linked to specific events or seasons, achieving operational flexibility without prejudice to governance controls.

The decree mandates that companies establish a formal organizational structure for their branch networks. Companies must define clear credit decision-making policies, whether managed through central, regional, or branch-level committees. Authority must be delegated based on financing tiers, product types, and defined risk tolerance levels to maintain a balance between operational efficiency and regulatory oversight.

The decree outlines the mandatory documentation and procedural requirements for branch registration. This includes formal Board approval, specified branch classification and location, and the designation of a branch manager. Applicants must submit a recent Commercial Registry extract, legal proof of premises possession, the manager’s professional CV, and payment of the prescribed inspection fees. Furthermore, FRA reserves the right to conduct on-site field inspections to verify compliance before the final issuance of the registration certificate.

The decree mandates prior approval from FRA for the relocation, modification, or closure of any branch. Companies are legally obligated to implement necessary safeguards to protect client rights and regularize the status of employees during such transitions. Furthermore, FRA is empowered to take administrative disciplinary actions in the event of non-compliance with these regulatory standards.

Specific supplementary requirements have been established for mobile and seasonal branches. These include the submission of comprehensive operational plans, defined protocols for the secure handling and timely delivery of customer documentation, and mandatory vehicle licensing and insurance. Additionally, mobile units must be equipped with GPS tracking devices to ensure continuous regulatory oversight of their movement and operations.

All existing non-banking finance companies must regularize their status according to these new provisions within a six-month grace period from the effective date. The decree becomes effective the day following its publication in the Official Gazette and on FRA’s official website.

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