الهيئة العامة للرقابة المالية

FRA Reduces MCDR Fees for Real Estate Fund Digital Platforms – Sunday 31 May 2026

Dr. Islam Azzam, FRA Chairman:

• This decision aims to boost investment in real estate funds units.
• Expected positive impact on fund activity, platforms and retail investor turnout.
• These new regulated platforms will revitalize Egypt’s real estate development market.

FRA Board of Directors has issued a new resolution regulating the MCDR service fees for all participants using Real Estate Fund Digital Platforms. Launched to streamline real estate investments, this framework allows investors to buy fund units through licensed digital platforms quickly and easily. The entire ecosystem operates under the strict supervision and regulation of the Authority.

FRA has eased the financial burden on all participants within this new investment ecosystem -namely the issuing real estate fund, platform manager and investors. This was achieved by introducing reduced central depository and registry fees for both funds and platforms, while also reducing custody service fees for clients using MCDR’s services.

MCDR plays a pivotal role in the digital real estate platform system as the central entity responsible for registering real estate fund units and tracking all transactions throughout the investment duration. MCDR is authorized to provide custody services to interested investors via these platforms, with accounts opened according to designated workflows. Once a fund subscription is covered, MCDR is immediately notified of the unitholders and subscription data to establish holders’ registry, which is updated daily in coordination with the platforms. MCDR is also notified of all units’ redemptions.

Dr. Islam Azzam, FRA Chairman, stated that Resolution No. 109 of 2026 regarding MCDR service fees primarily aims to stimulate real estate investment via digital funds. He emphasized that the Resolution is designed to encourage retail investors to safely deploy their capital within a fully regulated environment.

Service Fee Details:

• The resolution outlines specific service fees charged by Misr for Central Clearing, Depository and Registry (MCDR). The central depository and registry fees applied to the fund company are structured as follows:
• Initial Fund Listing (Shares / Units): 0.025% (0.25 per mille), capped at EGP 5,000 (one-time fee).
• Listing New Issuances (Capital Increase): 0.025% (0.25 per mille), capped at EGP 5,000 upon listing the new issuance.
• Annual Subscription Fee: EGP 250 for companies with capital below EGP 5 million.

EGP 2,500 for companies with capital of EGP

5 million and above.

• Listing Status Certificate: EGP 50 per certificate.
• Extra Copy of Unitholders List: EGP 0.50 per unitholder (Minimum: EGP 100 / Maximum: EGP 3,000).
• Partial Redemption: 0.025% (0.25 per mille), capped at EGP 10,000.
• E-Signature & Electronic Stamp: Subject to standard e-signature pricing tariffs.

The total combined fees collected by MCDR from any single fund company shall not exceed EGP 500,000 annually.

• Fees Charged to the Digital Platform Manager

For digital platforms hosting the real estate fund units for subscription and displaying transaction data, the fees are set as follows:

• Annual Subscription Fee: Free of charge.
• E-Signature & Electronic Stamp: Subject to the applicable standard e-signature pricing tariffs.
• Custody Fees Charged to Investing Clients are structured as follows:
• Account Opening / Registration: EGP 25 (one-time setup fee).
• Annual Safekeeping Fee (Holding): 0.001% (10 per 100,000) of the securities’ value. This is paid annually based on the market value and currency of issuance at the end of December each year, capped at EGP 100 per client portfolio per issuance.
• Asset Freezing Request: EGP 25 per request.
• Portfolio Transfer (to another custodian) or Partial Redemption: EGP 0.50 per EGP 1,000 of the transferred securities’ market value, capped at EGP 100 per request.
• Receiving a Portfolio Transfer: Free of charge.
• Account Statements and Reports: Free of charge.
• A Flexible Regulatory Framework to Facilitate Investment

With these measures, the resolution delivers an unprecedented reduction in service fees performed by MCDR for all participants within the digital platform ecosystem for real estate investment fund units. This initiative aims to expand the market, make investing in these units highly accessible to citizens, and optimize the performance of an ecosystem that introduces an innovative channel to the Egyptian market to bolster financial and investment inclusion.

Dr. Islam Azzam, FRA Chairman, explained that the positive impact of these steps extends far beyond the investment platforms themselves. They are set to revitalize the real estate development sector as a whole. Through these platforms, developers can digitally showcase their projects to investors for unit subscriptions via fast, streamlined procedures. All necessary disclosures are integrated within a transparent framework for unit redemptions to reinforce market confidence and safeguard the interests of all parties.

Dr. Azzam pointed out that regulations for establishing these platforms, issued under FRA Board Resolution No. (125) of 2025, mandate that investment funds provide comprehensive, sufficient, and fully documented disclosures on the platforms to ensure the highest levels of transparency and protect investor rights. These requirements include disclosing a summary of the economic feasibility study for each real estate project targeted for offering. This in addition to the fair value of assets, determined via a report issued by an FRA-registered real estate appraisal expert, statements of purchase values, sold real estate assets, and their current market value ,  semi-annual periodic financial statements and dividend distributions,  insurance policy statements for the real estate assets under investment and any judicial rulings, arbitration awards, official registrations, or decrees affecting the legal status of the real estate properties.

Concurrently, under Resolution No. (125) of 2025, the digital platforms are also legally bound to several disclosures and procedures designed to simplify processes for investors, raise awareness and protect rights, including providing a secure, automated link between all involved parties, offering secure payment and collection channels, publishing the feasibility study summary for each fund. In addition to providing educational and informational materials regarding the investment instruments available on the platform and their potential risks and establishing a dedicated mechanism for receiving and addressing complaints.

To date, the Financial Regulatory Authority has received 11 applications to obtain licenses for promoting and underwriting investment fund units, as well as managing digital platforms. Meanwhile, four real estate investment funds are currently active in the market, with total net assets approaching EGP 9 billion by the end of the first quarter of this year.

FRA and Healthcare Authority Discuss Strategic Partnership to Boost Health Insurance and Medical Tourism – Saturday 30 May 2026

• Islam Azzam: Egypt has the regulatory strength to boost market appeal and expand competition.
• Ahmed El-Sobky: The Authority is establishing an integrated model designed to position Egypt as a globally recognized regional healthcare hub.
• Studying new EGX listings for major healthcare firms and introducing new investment funds.
• A joint awareness protocol will be signed at Africa Health ExCon this June.

Dr. Islam Azzam, FRA Chairman met with Dr. Ahmed El-Sobky, Chairman of Egypt Healthcare Authority (EHA) and General Supervisor of the Universal Health Insurance project, alongside senior executives from both entities. The high-level meeting focused on deepening integration between non-banking financial sector and healthcare industry, a move aligned with Egypt’s Vision 2030 to upgrade public health services.

Dr. El-Sobky commended FRA’s robust regulatory oversight, noting that non-banking financial sector remains a core pillar of the national economy. He specifically highlighted the impressive, rapid expansion of Egypt’s healthcare insurance market.

In this regard, Dr. Islam Azzam emphasized FRA’s commitment to develop medical insurance and healthcare sector, identifying it as a top priority under the Unified Insurance Law No. 155 of 2024. This focus is reflected in the regulatory decisions issued by the Authority to foster market expansion, including establishing – for the first time – the regulatory framework for Healthcare Third-Party Administrators (TPAs) and integrating them into non-banking financial services ecosystem.

Dr. Azzam explained that the FRA prioritizes healthcare because of its unique ability to attract high-impact investments that strengthen the Egyptian economy. To support this, the Authority has built a robust regulatory environment that encourages market players to adopt modern, globally aligned financial innovations.

He added that FRA continues to approve numerous insurance products to stimulate the market and meet customer needs. Furthermore, the Authority enforces top-tier governance standards and integrates fintech solutions among companies, which drives competition, strengthens trust in the industry and ultimately elevates quality of healthcare services provided to beneficiaries.

For his part, Dr. Ahmed El-Sobky stressed the critical role of private medical insurance as a primary partner in supporting healthcare ecosystem. He highlighted the need to create integrated collaborative models between public and private insurance -chiefly through co-insurance and risk-transfer models – allowing private medical insurance companies to participate actively in the Universal Health Insurance system.

Dr. El-Sobky pointed out that the expected annual transaction volume in Egypt’s medical insurance industry could reach EGP 300 to 400 billion in the coming years. This projection reflects promising investment opportunities that require coordinated efforts between state institutions and private sector.

The meeting also addressed medical tourism and mechanisms to provide medical insurance coverage for foreign tourists in cooperation with international entities, thereby boosting the global competitiveness of Egyptian medical services. Dr. El-Sobky reviewed the results of his recent visit to Russia highlighting positive discussions regarding cooperation to provide medical insurance services for over 2.5 million Russian tourists who visit Egypt annually. He noted that Egypt’s competitive pricing and advanced medical services position it to become a premier medical tourism destination in the region.

Dr. Islam Azzam welcomed Healthcare Authority’s plans to study several projects aimed at attracting local and foreign investments through the capital market. These include listing major healthcare entities on the Egyptian Exchange (EGX) to broaden their ownership base, as well as establishing specialized investment funds for healthcare and medical services.

He stressed the importance of leveraging the growing public interest in investment funds, particularly among youth, which fueled strong Q1 growth indicators. With global demand rising for healthcare and education investments, Egypt possesses the strong foundations needed to quickly expand and mature its market, driven by a growing number of market participants, high awareness and newly introduced investment tools.

The discussions also outlined a joint program to build financial and investment awareness across healthcare sector. To execute these plans, a joint task force will coordinate operations and finalize a strategic cooperation protocol, scheduled for official signing mid-June at Africa Health ExCon 2026.

Orient Insurance Joins FRA Sandbox with Innovative Remote Vehicle Inspection Solution – Monday 25 May 2026

Islam Azzam, FRA Chairman:

• Modern digital solutions boost insurance efficiency and speed up claims for a better customer experience.

Financial Regulatory Authority (FRA) has granted initial approval for Orient Insurance – Egypt to join its FinTech Regulatory Sandbox (FRA-Sandbox). Approved by the FinTech Applications Review Committee, the company will test a new digital model for motor insurance inspections and damage assessments. This initiative aligns with FRA’s ongoing commitment to drive financial technology and expand digital services across non-banking financial sectors.

Several leaders attended the announcement ceremony from FRA, alongside representatives from Orient Insurance and “EG InsurTech.” This project aligns with the Authority’s approach to support the development of insurance services and digital transformation. It implements a digital mechanism that enables remote inspections via a secure video link on mobile phones, allowing the inspection expert to guide the customer during the assessment and capture live photos and documentation without the need for on-site visits.

The project relies on introducing an integrated digital solution and embedding it into the existing insurance ecosystem. This allows for managing inspection requests, directing assessment teams, and recording photos, videos, and inspection data in real time. Furthermore, it integrates inspection results with claims procedures, underwriting, and insurance policy management, contributing to accelerating the workflow, improving the accuracy of assessments, and reducing reliance on traditional manual procedures.

Dr. Islam Azzam, FRA Chairman emphasized that the Authority attaches great importance to support innovation in the insurance sector and foster the use of modern technological solutions that enhance service efficiency and improve user experience.

He pointed out that digital inspections represent a major step toward accelerating claims procedures while reducing the time and operational costs associated with traditional field inspections.

For his part, Eng. Ahmed Khalifa, Executive Director of FRA Sandbox confirmed that the project reflects an advanced approach toward integrating technology into daily insurance operations. This enables faster and more efficient inspections, enhancing insurance companies’ capacity to manage requests and improve the quality of service provided to customers.

He noted that the project’s admission into the Regulatory Sandbox will enable the company to conduct live testing of the proposed digital solutions under FRA’s supervision. This includes verifying the efficiency of remote inspection processes, the accuracy of collected data, the level of customer data protection, and the system’s compliance with relevant regulatory and technical requirements.

It is worth noting that in less than a year, FRA Sandbox has received 38 FinTech projects across non-banking sectors. Five projects have received initial approval: “GIG” and “Orient with EG InsurTech” in the insurance sector; “Cassbana” in digital brokerage for microfinance; and “Lumin Soft” in cooperation with “Azimut” for foreign identity verification using e-passports.

Additionally, the Sandbox provided regulatory guidance to 36 companies, which included studying their ideas, providing tailored guidance to assist innovators, raising awareness about acceptance criteria, navigating regulatory frameworks and regulations for non-banking financial activities, and evaluating proposed business models. This is in addition to launching a diverse series of workshops and webinars for FinTech professionals to promote cybersecurity and digitization of financial solutions.