Press Releases
FRA Licenses Six Companies to Operate via Financial Technology (FinTech) – Tuesday 5 May 2026
- The new approvals expand the use of FinTech and support the growth of startups.
Financial Regulatory Authority (FRA), chaired by Dr. Islam Azzam, has granted six companies approvals to operate via financial technology (FinTech). This decision aligns with the Authority’s ongoing efforts to expand the beneficiary base, support digital transformation, and promote the integration of technology and financial inclusion.
The approvals include the establishment of Valu for Small and Medium Enterprise (SME) financing as a FinTech startup. Additionally, approval was granted to CFH and Beltone Securities Holding to provide custodial services utilizing FinTech solutions, facilitated through V-Lens for electronic verification (e-KYC).
Furthermore, FRA licensed Cairo Capital Securities and Al Ahly Pharos Securities Brokerage to engage in securities trading through FinTech applications, also via V-Lens. These moves aim to enhance trading efficiency and keep pace with digital advancements in the Capital Market.
In the same context, the Authority granted preliminary approval for Orient Insurance to join FRA-Sandbox (Regulatory Lab). Their project focuses on using technology for remote inspection and damage assessment in the motor insurance sector, reflecting FRA’s commitment to foster innovation and adopt technological solutions within the insurance industry.
FRA issues these licenses within its constitutional and legal mandate to regulate and supervise non-banking financial markets and instruments. This oversight spans capital markets, futures exchanges, insurance activities, mortgage finance, financial leasing, factoring, and securitization, as well as the incorporation and licensing of companies operating within these sectors.
Incorporation and licensing decisions are issued based on the recommendations of Incorporation and Licensing Committee. This Committee is responsible for reviewing and issuing preliminary and final approvals for companies, processing requests for additional activities and mechanisms, and managing the opening, closing, or relocation of branches. It also oversees amendments to corporate statutes, approves employee incentive and reward schemes, manages transitions between regulatory frameworks for securities and consumer finance firms, and reviews requests for liquidation or voluntary temporary suspension of activities.
Chairman Delivers Opening Speech at Egypt Arbitration Day (EGYAD) – Tuesday 5 May 2026
Dr. Islam Azzam:
- Arbitration is vital for attracting investment and reducing litigation costs.
- Egypt has great potential to advance its arbitration system through legislative updates and global expertise.
- Dr. Islam Azzam, FRA Chairman emphasized the vital importance of arbitration in attracting investment. He stressed the necessity of developing arbitration process in Egypt to resolve disputes in a manner that alleviates judicial burdens and reduces litigation costs.
He added that global economic shifts have heightened the significance of consensual dispute resolution through arbitration and mediation. He noted that international trends reflect a growing corporate preference for arbitration over traditional litigation. Recent international studies indicate that approximately 90% of companies prefer arbitration as a primary means of dispute resolution, while 60% prefer combining arbitration with other alternative mechanisms, reflecting a growing trust in these processes.
These remarks were delivered during the keynote address at “Egypt Arbitration Day (EGYAD),” an event hosted by the Egyptian Center for Arbitration and Settlement of Non-Banking Financial Disputes (ECAS) led by Dr. Marian Kaldas. The event gathered a distinguished group of experts, regulators, and judicial figures to strengthen arbitration’s position as a pillar of a healthy investment environment.
Dr. Islam Azzam underscored that arbitration is a pivotal driver of the investment climate, citing research that indicates a 22% improvement in the business environment compared to traditional litigation in developing countries. This positive impact is fueled by several distinct advantages, primarily the swift resolution of disputes and the reduction of investment downtime. By offering parties the flexibility to define their own rules and potentially slashing long-term costs by 80%, arbitration serves as a powerful catalyst for attracting foreign direct investment and fostering sustainable economic growth.
Additionally, Dr. Islam Azzam noted that Egypt holds promising opportunities to develop its arbitration ecosystem, especially as the Financial Regulatory Authority (FRA) moves to expand the use of Financial Technology (FinTech) within non-banking financial activities. This shift aligns with national economic priorities under Law No. 5 of 2022. He emphasized the importance of intensifying awareness and education regarding international best practices, while enhancing coordination between legislative and regulatory bodies, financial institutions, and the legal community to establish arbitration as a primary choice for resolving investment disputes.
In this context, FRA Chairman highlighted the recent Prime Ministerial Decree amending the Statutes of the Egyptian Center for Arbitration and Settlement of Non-Banking Financial Disputes (ECAS). The amendments officially adopted e-arbitration rules, enabling secure and confidential remote proceedings. Furthermore, the decree introduced an “Expedited Arbitration” system designed to fast-track dispute resolution, specifically for cases with a financial value not exceeding EGP 25 million.
Reaffirming FRA’s long-term vision, Dr. Azzam stated that the Authority remains dedicated to evolve the legislative framework for non-banking activities. By refining dispute mechanisms, FRA aims to foster market trust, ensure financial stability, and deepen financial inclusion – all of which serve to make the Egyptian economy more competitive globally.
“Egypt Arbitration Day (EGYAD),” is organized by the Egyptian Center for Arbitration and Settlement of Non-Banking Financial Disputes (ECAS). It is worth mentioning that (ECAS) was established by Presidential Decree No. 335 of 2019, pursuant to Article 10 of Law No. 10 of 2009 concerning the Regulation of Non-Banking Financial Markets and Instruments. This initiative is part of ongoing efforts to exchange expertise and review international best practices aimed at protecting market participants and accelerating consensual dispute resolution. Ultimately, these efforts seek to advance the arbitration ecosystem, transforming it into a fundamental pillar for supporting investment environment and attracting capital.
FRA and UN Women Explore Initiatives to Empower Egyptian Women in the Non-Banking Financial Sector – Sunday 3 May 2026
Dr. Islam Azzam – FRA Chairman :
- 9 million women (53% of total) accessed SME financing in 2025.
- Developing flexible regulations to facilitate women’s access to financial services.
- Scaling micro-finance and micro-insurance to target high-need groups.
- Women’s empowerment is vital for inclusive and sustainable economic growth.
Dr. Islam Azzam, FRA Chairman emphasized the necessity of expanding financial literacy and cybersecurity initiatives in tandem with the increasing adoption of financial technology (FinTech), particularly among Egyptian women in underserved areas.
During a high-level meeting with UN Women, FRA Chairman discussed collaborative frameworks aimed at strengthening women’s economic empowerment. Central to the dialogue was the promotion of diversified financial tools specifically designed for vulnerable populations and those currently enrolled in micro-financing initiatives.
Both parties agreed on a comprehensive package of joint programs and events, including specialized workshops, training programs, seminars, and panel discussions. These initiatives aim to raise financial awareness, build capacity, and enhance women’s access to non-banking financial services. Such efforts support national financial inclusion goals and integration into the formal economy, while ensuring maximum protection against data theft and cyber-piracy.
Dr. Mohamed Abdel-Aziz and Mr. Walid Anwar, Assistants to Chairman, and Dr. Tarek Seif, Executive Director of the Financial Services Institute (FSI), along with several FRA leaders, attended the meeting. The presence of prominent female cadres underscored the Authority’s commitment to support women’s roles and participation across various financial activities.
Representing UN Women were Ms. Marwa Allam El-Din, Acting Head of UN Women Egypt; Dr. Yasmin Fouad, Associate Professor at the Faculty of Economics and Political Science, Cairo University; Mr. Magdy Moussa, Development Expert; and Ms. Engy Amin, Economic Development Specialist.
Dr. Islam Azzam explained that women’s empowerment is a primary pillar of FRA’s strategy within its framework to promote financial inclusion and achieve sustainable development. He noted that the Authority is currently implementing a suite of initiatives and regulatory decision aimed at increasing women’s participation in the non-banking financial sector, both as service beneficiaries and as active contributors to the industry.
FRA Chairman highlighted that the Authority has established a robust regulatory and legislative framework, characterized by streamlined mandates for micro-finance and micro-insurance. These strategic measures are designed to bridge the accessibility gap for women in remote and marginalized regions, while incentivizing financial institutions to introduce new financial products that address women’s specific needs and drive geographic expansion to reach those excluded from the formal economy.
He further disclosed that in 2025, 1.9 million women accessed approximately EGP 36 billion in MSME financing, representing a significant 53% share of total beneficiaries. This milestone underscores the tangible impact of FRA’s strategy to modernize regulatory and technological frameworks, while simultaneously bolstering financial literacy and institutional capacity within the sector.
In this context, both parties discussed ways to increase women’s utilization of micro-insurance, micro-leasing, and micro-finance to improve living standards and bolster economic independence. The discussions also addressed expanding outreach to women in the Upper Egypt and Nile Delta governorates through awareness events and specialized training programs.
Dr. Islam Azzam highlighted the launch of several training programs and initiatives in cooperation with the Financial Services Institute (FSI). These include specialized training grants for women, workshops, seminars, and panel discussions, as well as the provision of digital academic and training content designed to qualify women and enhance their ability to leverage opportunities within the non-banking financial sector (NBFS).
FRA Chairman emphasized that women’s economic empowerment is a fundamental pillar for achieving inclusive and sustainable growth. This will be realized through evolving regulatory frameworks and intensifying awareness and training efforts to ensure financial services reach all Egyptian women. He also stressed the importance of building partnerships with international organizations -led by UN Women – to exchange expertise and adopt global best practices.
He noted that FRA’s strategic vision extends beyond traditional opportunities to create a supportive work environment that ensures women’s empowerment and leadership development. To achieve this, the Authority has enforced gender-parity mandates, requiring non-banking financial institutions to maintain a minimum of two female board members or 25% representation. This is in addition to a newly adopted ‘Non-Discrimination Policy’ that strictly prohibits gender-based bias while offering strategic incentives for institutions that abide by these standards.
Dr. Islam Azzam further elaborated on the Authority’s efforts to qualify female cadres for leadership through applied initiatives. Key programs include the ‘Certified Board Member’ program in collaboration with the International Finance Corporation (IFC), the launch of ‘ Women Empowerment’ app, and the implementation of the ‘Women on Boards’ program in partnership with Fulbright Program. These initiatives are strategically designed to bolster the presence of high-caliber female talent within executive leadership positions.
The UN Women delegation commended FRA’s efforts in supporting financial inclusion for Egyptian women. They underscored the importance of continued collaboration to launch qualitative initiatives targeting economic empowerment for women in marginalized areas, alongside periodic monitoring to measure the impact of ongoing programs and initiatives.
