الهيئة العامة للرقابة المالية

FRA Licenses 10 Companies for Non-Banking Financial Activities – Tuesday 7 July 2026

New licenses include Egypt’s second credit rating agency, first specialized medical insurance firm … expanding the number of derivatives brokerages to eight.

Financial Regulatory Authority (FRA), chaired by Dr. Islam Azzam, has issued 10 new licenses for various non-banking financial activities. The move is part of the Authority’s ongoing efforts to elevate the quality and competitiveness of the sectors under its oversight, boost their investment attractiveness and expand public access to diverse financial services.

FRA licensed the “International Company for Credit Rating Solutions” to provide securities evaluation, rating and ranking service. This makes it the second operational credit rating agency in the Egyptian market, and the first to be licensed under FRA resolution No. 178 of 2025 which set comparative criteria for rating agency licenses.

Additionally, FRA approved licenses for two new firms to operate in futures brokerage: “Sigma Securities Brokerage” and “Aspire Securities and Bonds Brokerage.” This brings the total number of companies licensed to operate in this sector to eight since the launch of derivatives market on the Egyptian Exchange (EGX).

On the other hand, FRA granted a temporary license to “MedRight Health Solutions” to practice specialized medical insurance, making it the first company to receive a temporary license in this field under the Unified Insurance Law No. 155 of 2024 and FRA resolution  No. 90 of 2025. A temporary license was also granted to “NextCare” to manage healthcare programs. This increases the total number of companies operating in this activity under temporary licenses to eight since the enactment of the Unified Insurance Law.

Furthermore, FRA licensed “Co-Wealth Fund Company” to operate as a real estate investment fund. Additionally, “Co-Wealth” was granted a license for securities promotion, underwriting and real estate investment fund management. The Authority also licensed “Thndr for Real Estate Asset Investment” to operate as a real estate investment fund.

Also, “CIB Finance” was granted a license to practice financial leasing as an expansion of its corporate purpose, provided it adheres to standard leasing contract templates approved by FRA. Furthermore, “Halan Non-Banking Finance Services” received licenses to practice both real estate finance and factoring.

FRA issues these approvals in accordance with its constitutional and legal mandate to regulate and supervise non-banking financial markets and instruments. This includes capital markets, futures exchanges, insurance activities, real estate finance, financial leasing, factoring, and securitization, alongside its authority to approve the establishment and licensing of companies operating within these sectors.

FRA Sets Futures Settlement Fees to Drive Growth in Derivatives Market – Monday 6 July 2026

Dr. Islam Azzam- FRA Chairman :

• One-Year fee exemptions to boost market participants during derivatives launch phase.
• Futures contracts mark a pivotal milestone in capital market development, diversifying options across investor segments.

FRA Board of Directors chaired by Dr. Islam Azzam, has issued a resolution determining the clearing and settlement service fees for futures contract operations on the Egyptian Exchange (EGX). Developed in coordination with the EGX Board of Directors, the move finalizes the regulatory framework for derivatives market, ensuring its activation and the readiness of all market participants.

These services will be provided via “Taswyaat Clearing Services (TCS)” FRA-licensed entity authorized to conduct clearing and settlement operations for contracts traded on futures exchanges. The company plays a pivotal role in risk management and assessment at the client account level for financial derivatives trading and settlement members, in addition to managing counterparty risk during trading operations to safeguard the stability and integrity of the capital market.

Resolution No. 110 of 2026, published in Al-Waqa’i’ al-Misriya), mandates a one-year fee exemption for several services. This reflects FRA and EGX’s commitment to upgrade the procedural and technical infrastructure of the capital market, diversify investment instruments and enhance risk management efficiency in alignment with international best practices.

Under the newly issued resolution, several operational services will be exempted from fees for a one-year period starting from its effective date. These temporary exemptions include proxy trade execution, final contract settlements, member-to-member position transfers, account statement issuance, system user additions and automated settlement connectivity. Additionally, the resolution mandates that three key services will remain permanently free of charge: client account opening, cash deposits and cash withdrawals.

Dr. Islam Azzam, FRA Chairman emphasized that commencing futures trading following the launch of derivatives market marks a major milestone in the structural evolution of the Egyptian Exchange (EGX). He noted that futures contracts serve as a primary vehicle for developing Egypt’s capital market infrastructure. By reducing initial cost barriers, the Authority aims to encourage diverse investor segments to adopt these new instruments, establishing them as vital investment options that will diversify investment options and deepen market liquidity.

FRA Chairman added that the resolution strikes a balance between securing appropriate fees for the services provided by the clearing company and encouraging market members and traders to participate in the futures market during its launch phase. Furthermore, the temporary exemption services serves as a practical incentive for investors and brokerage firms licensed to trade in futures contracts derived from securities and financial instruments, ultimately expanding market activity and boosting its attractiveness.

The launch comes at a critical time, as the Egyptian Exchange successfully rolled out its financial derivatives platform concurrently with recent regional geopolitical shifts, including the outbreak of Iran war. This timely execution underscored the resilience, stability and growth prospects of Egypt’s financial sector despite broader regional uncertainties. Building on this momentum, the EGX successfully introduced futures contracts mapped to two of the market’s leading blue-chip stocks this past June. This follows FRA’s earlier issuance of Board Resolution No. 7 of 2026 which laid down the technical, financial and regulatory benchmarks required for licensing futures brokerage activities, an initiative that has already seen multiple qualified firms secure official operational approvals.

Details of Services and Approved Fees:

• Membership Fee: EGP 20,000 (one-time fee)
• Annual Subscription: EGP 10,000 annually (includes access to one settlement system screen)
• Client Account Opening: Free
• Settlement Services: 0.01% (1 basis point) of the transaction value, capped at a maximum of EGP 5,000 or its equivalent in trading or settlement currency
• Cash Deposit Fees: Free
• Cash Withdrawal Fees: Free
• Proxy Trade Execution: 0.1% of the transaction value, capped at a maximum of EGP 5,000 or its equivalent in trading or settlement currency (one-year exemption)
• Final Settlement: 0.01% of the value of open positions on the contract expiration date, capped at a maximum of EGP 5,000 or its equivalent in trading or settlement currency (one-year exemption)
• Position Transfers (from one member to another): 0.1% (10 basis points) of the value of open positions, capped at a maximum of EGP 5,000 or its equivalent in the trading or settlement currency (one-year exemption)
• Account Statement Issuance: EGP 100 per statement (one-year exemption);
• Adding a System User: EGP 5,000 annually (one-year exemption)
• Automated Settlement Connectivity: EGP 50,000 annually (one-year exemption)

FRA and NTA Partner to Drive Financial Literacy and Capacity Building – Sunday 5 July 2026

Dr. Islam Azzam – FRA Chairman:

“Enhancing the non-banking financial sector’s contribution to the national economy depends first and foremost on capacity building and continuous awareness.”

Dr. Islam Azzam, FRA Chairman visited the National Training Academy (NTA) where he met with Dr. Solafa Goueli, the Academy’s Executive Director, to discuss mutual cooperation aligned with the Authority’s strategy to expand public awareness and build institutional capacity. Dr. Taher Nasr, Deputy Executive Director of the NTA; Dr. Mohamed Abdelaziz, Assistant to FRA Chairman; and Dr. Tarek Seif, Executive Director of the Financial Services Institute (FSI) attended the meeting.

Dr. Islam Azzam praised the Academy’s significant national contributions, driven by the directives of His Excellency the President of the Republic, to support the state’s broader framework for enhancing institutional performance.

He highlighted FRA’s ongoing commitment to develop human capital within the non-banking financial sector. The Financial Services Institute (FSI) in partnership spearheads these initiatives with numerous specialized educational institutions globally and domestically—ultimately driving greater competitiveness across all activities regulated by the Authority.

FRA Chairman underscored the Authority’s commitment to enhance financial literacy and awareness by bridging the gap between theoretical concepts and practical applications for youth. This objective is being driven through the Authority’s “I Invest” digital platform and specialized university training programs, alongside a recent partnership with the Ministry of Education to integrate non-banking financial literacy into the secondary school curriculum. Dr.  Islam Azzam concluded by noting that the steady influx of young investors into the capital market and mutual funds necessitates a heightened focus on high-quality training, accurate financial concepts and access to reliable data.

FRA Chairman also discussed the Authority’s efforts to stimulate innovation and deploy financial technology (fintech) and artificial intelligence to create new services. He emphasized that the sustainability of non-banking financial activities and the maximization of their contribution to the national economy depend primarily on expanding the pool of specialized talent and ensuring the continuous education of both industry professionals and the public.

For her part, Dr.  Solafa Goueli, Executive Director of the National Training Academy (NTA), reviewed the vital role the Academy plays in enhancing human and institutional capabilities, thereby contributing to higher efficiency and readiness among professionals in national institutions. She outlined the Academy’s strategic objectives and the details of its diverse programs aimed at developing the state’s administrative apparatus.

She further explained the latest updates in the Academy’s training tracks and efficiency-building initiatives. She highlighted the management’s focus on balancing knowledge enrichment, general culture, specialized technical training and soft skills development, alongside the ability to design tailored programs based on the specific interests and requirements of government entities.

Concluding the meeting, both sides will step up strategic consultations to launch joint initiatives aimed at boosting financial literacy among youth, streamlining access to non-banking financial services and fostering investment.