Press Releases
FRA Mandates Actuaries to Submit All Reports Directly to the Authority – Sunday 15 February 2026
- Submissions are due within 15 days of the report’s issuance date.
- All 2025 reports must be submitted within 15 days of the resolution’s effective date.
Financial Regulatory Authority (FRA) has mandated that actuaries submit copies of all reports issued for regulated entities.
Resolution No. 39 of 2026 was issued by FRA Board of Directors during its meeting held on January 22, 2026. Dr. Mohamed Farid, the current Minister of Investment and Foreign Trade and former FRA Chairman, chaired the meeting. The resolution was issued in accordance with Law No. 10 of 2009 on Regulating Non-Banking Financial Markets and Instruments, and the Unified Insurance Law No. 155 of 2024.
Pursuant to the resolution, actuaries are mandated to file all insurance-related reports – including peer reviews of other professionals – directly with FRA.
Actuaries are required to file these reports within 15 business days of issuance and delivery to the client. Submissions must be sent electronically to a designated FRA email address specifically established for this purpose.
The resolution specifies mandatory components for each submission, including: scope and purpose of the report, client’s identity, and underlying assumptions and methodologies. Additionally, actuaries must provide a Certification of Accuracy, electronic copies of the raw data used in calculations, an executive summary of key findings, and a full disclosure of any potential conflicts of interest.
The resolution further mandates that actuaries submit all reports issued for the fiscal year ending December 31, 2025. These filings must be completed within 15 days of the resolution’s effective date.
This resolution becomes effective the day following its publication in the Official Egyptian Gazette and on FRA’s official website.
The primary objective of this resolution is to enhance regulatory oversight of actuarial activities while embedding the principles of transparency and professional accountability. This is intended to elevate the technical quality of insurance sector reporting and ensure the stability of non-banking financial markets.
Finally, this resolution reflects FRA’s commitment to tighten the regulatory framework governing actuarial work. By aligning local practices with international professional standards, the Authority aims to bolster confidence in the studies and reports that drive critical financial and technical decisions within the sector.
FRA Extends Insurance Financial Statement Deadline to April 30, 2026 – Thursday 12 February 2026
Financial Regulatory Authority (FRA) has issued a resolution granting insurance companies and pools an extension to present their financial statements to General Assemblies.
Resolution No. 38 of 2026, issued by the Board of Directors chaired by Dr. Mohamed Farid on February 2, 2026, sets a final deadline of April 30, 2026, for the presentation of annual financial statements, accompanying disclosures, the auditor’s report, and the Board of Directors’ report.
In accordance with FRA Resolution No. 3 of 2025, insurance companies and pools are required to present their consolidated financial statements within three months of the end of the fiscal year. For insurance and reinsurance companies, the fiscal year commences on January 1 and concludes on December 31 annually.
Insurance companies and pools shall prepare their consolidated financial statements, accompanying disclosures, and the reports of both the auditor and the Board of Directors at least one month prior to the General Assembly meeting. FRA reserves the right to review these statements and notify the company of any observations or required amendments.
This resolution is part of FRA’s proactive approach to provide regulatory flexibility for its regulated entities. It aims to ensure that
financial statements are prepared with the highest levels of accuracy and quality, without compromising transparency requirements or the timely presentation of reports to General Assemblies.
Furthermore, the resolution reflects the Authority’s commitment to balance regulatory discipline with the operational and technical demands of preparing consolidated financial statements. This contributes to enhancing the quality of disclosures and improving the efficiency of financial reporting presented to shareholders.
Dr. Mohamed Farid Bids Farewell to FRA Staff Following Appointment as Minister of Investment – Wednesday 11 February 2026
- We have built a robust foundation for the future of the non-banking financial sector.
- FRA’s talented cadres and collective team spirit are the true drivers of our achievements.
- I have full confidence in FRA staff’s ability to continue the journey of development.
- Real investment lies in the human talent capable of making a true difference.
Dr. Mohamed Farid, Minister of Investment and Foreign Trade, met with FRA staff following his appointment to the Ministry of Investment. During the meeting, he expressed his pride in the qualitative reforms achieved, which significantly enhanced the performance and competitiveness of the non-banking financial sector (NBFS), solidifying its role as a primary driver of economic growth and financial stability.
Dr. Farid highlighted the unprecedented legislative and regulatory developments witnessed recently, including the expansion of financial activities and instruments and the acceleration of digital transformation. He emphasized that these successes would not have been possible without the expertise of FRA’s dedicated cadres, their collective team spirit, and an unwavering commitment to the highest standards of professionalism and governance.
He noted that the Authority successfully established a balanced approach that pairs regulatory discipline with support for innovation and growth. This strategy improved market efficiency, deepened transparency, and strengthened investor protection, while actively contributing to financial inclusion by providing various segments of society with access to non-banking financial services.
He stressed that sustaining and building upon these achievements requires a continued ambitious spirit, openness to constant evolution, and the ability to keep pace with rapid global shifts. He expressed full confidence in FRA staff’s capability to carry forward development process and bolster the sector’s position at both regional and international levels.
Dr. Farid concluded with a motivational message, urging the team to continue working with a sense of responsibility and belonging. He remarked that true investment lies in human capital capable of making a tangible difference, asserting that current successes serve as a robust foundation for a new phase of sustainable development within the non-banking financial sector.
Notably, Dr. Farid’s tenure as FRA Chairman witnessed unprecedented leaps across various non-banking activities. Most executive regulations for the Unified Insurance Law – the first comprehensive law of its kind, consolidating four previous laws – were issued. Additionally, innovation was institutionalized through the launch of the Regulatory Sandbox, a structured platform for receiving, nurturing, testing, and developing fintech ideas.
Digital identity verification (E-KYC) became a practical reality under his leadership. The Authority also continued to refine listing rules for the stock market and introduce new products, such as activating Special Purpose Acquisition Companies (SPACs) and developing voluntary delisting rules to ensure fairness and protect minority shareholders.
A comprehensive package of regulatory amendments was introduced; including incentives for listing newly established companies and balanced controls for major shareholders’ stakes. These efforts also witnessed Gold Investment Funds attract approximately 324,000 investors, with total investments reaching EGP 5.145 billion by the end of December 2025.
FRA also launched the first voluntary regulated carbon market to support sustainability and carbon emission reduction. Consequently, the Authority’s regulatory decisions have transformed into effective tools for empowerment, contributing to economic growth and increased market depth.