الهيئة العامة للرقابة المالية

FRA Extends Deadlines for Insurance Capital Increases and Regulatory Compliance – Thursday 12 November 2026

FRA Board of Directors, chaired by Dr. Islam Azzam, has issued several decisions extending the deadlines for insurance companies to increase their paid-up capital and align their operations with the legislative and regulatory framework.

Under Decision No. 199 of 2026, FRA extended the deadline for all insurance companies and entities engaged in insurance-related professions to comply with Article 2 of Board Decision No. 196 of 2024—which governs capital increases—until July 2027. This extension coincides with the end of the third year of compliance grace period established by the Unified Insurance Law No. 155 of 2024.

Meanwhile, Decision No. 200 of 2026 extends compliance deadline for risk assessment, inspection, and loss adjustment experts until July 10, 2027. This follows FRA Board Decision No. 54 of 2026 which established the terms and rules governing their activities.

Risk assessment, inspection and loss adjustment constitute a vital insurance-related profession, for which the Unified Insurance Law introduced specific provisions to enhance its efficiency in line with global standards. Accordingly, FRA has established a robust framework of professional standards and behavioral controls for the sector. Foremost among these are strict adherence to integrity, impartiality and independence; the avoidance of conflicts of interest; and the mandatory documentation of information to ensure that all technical reports are grounded in objective, practical foundations.

In a related context, Decision No. 212 of 2026 was issued to extend the grace period for insurance companies and Managing General Agents (MGAs) to comply with FRA Board Decision No. 55 of 2026 for an additional three months, ending on January 21, 2027.

A Managing General Agent (MGA) is a legal entity authorized by reinsurance companies registered with FRA to provide services such as underwriting and claims settlement under a formal binding authority agreement that precisely defines the scope of granted powers and authorizes the agent to conclude contracts and deliver services on behalf of reinsurers. Under the aforementioned Board Decision No. 55 of 2026, FRA established a dedicated registry for MGAs for the first time and prohibited insurance companies operating in Egypt from dealing with unregistered agents, thereby enhancing transparency and facilitating supervisory oversight.

FRA Halts New Consumer Finance and Microfinance Licensing Applications for Another Year – Thursday 12 November 2026

FRA Board of Directors chaired by Dr. Islam Azzam, has decided to extend the freeze on applications for incorporation, preliminary incorporation approvals, and operating licenses for companies seeking to operate in consumer finance or microfinance sectors for another year, through October 11, 2027.

Issued under FRA Board Decision No. 213 of 2026,

the extension also applies to applications from non-governmental organizations (NGOs) and civil foundations seeking to conduct microfinance activities, freezing new submissions until October 11, 2027.

This move continues the implementation of FRA Board Decision No. 184 of 2024, which initially halted the acceptance of traditional incorporation and licensing applications in the consumer finance and microfinance sectors. The extension comes as part of the Authority’s commitment to maintaining the financial stability of non-banking financial activities (NBFIs), based on its assessment of market needs, activity volume and the quality of services provided to clients.

Separately, a one-year freeze remains in place on new incorporation and licensing applications for FinTech-based consumer finance firms under FRA Board Decision No. 43 of 2026. The suspension runs through February 25, 2027, with an option for renewal.

FRA Approves 10 Companies to Offer Non-Bank Financial Services Using Fintech –  Thursday 12 November 2026

• Approvals boost digital transformation across factoring, microfinance, asset management, securities brokerage and custodian activities.

Financial Regulatory Authority (FRA), chaired by Dr. Islam Azzam, has granted approvals to 10 companies to conduct several non-banking financial activities (NBFIs) using financial technology (FinTech). Approvals issued through Fintech Committee. This move aligns with FRA’s ongoing efforts to expand the beneficiary base of these services, support digital transformation and enhance financial, investment, and insurance inclusion.

The approvals include granting Misr Life Insurance approval to conduct its operations using FinTech through VLens for digital verification, as well as approving BAM Asset Management to carry out its licensed activities via FinTech through Valify Solutions.

Additionally, the Authority approved Halan Securities Brokerage to utilize FinTech for its licensed activities and mechanisms through VLens. It also granted approval to MNT-Halan (MNT Tech Holding for Financial Investments) to conduct custodian activities using FinTech through the same verification provider, alongside HC Securities & Investment which received approval to perform custodian services via VLens.

Regarding FinTech startups, FRA licensed Nice Deer Financial Solutions to conduct factoring activities using FinTech through VLens, and licensed Dayra Microfinance as a FinTech startup to operate through Digified for Digital Identity Verification Solutions.

The approvals further covered Azimut Egypt Asset Management to use FinTech in conducting custodian activities through Lumen Soft, in addition to approving AF Securities Brokerage and HC Brokerage to conduct their licensed activities and mechanisms via FinTech through VLens.

FRA grants these approvals within its constitutional and legal mandate to regulate and supervise non-banking financial markets and instruments—including capital markets, futures exchanges, insurance, mortgage finance, financial leasing, factoring, and securitization—as well as licensing companies operating in these sectors, whether through traditional methods or FinTech solutions