Press Releases
Under Presidential Directives, ‘Egypt is With You’ Initiative Launches to Support Minor Children of Martyrs – Thursday 18 December 2025
- Governor of the CBE, FRA Chairman and Chairman of the Martyrs and Victims Honoring Fund witnessed signing of a strategic partnership with Misr Life Insurance. This initiative provides specialized care and support for the families of Martyrs and the injured.
Under the directives of President Abdel Fattah El-Sisi, “Egypt is With You” initiative has been launched to provide essential care for minor children of martyrs, victims and those injured in military, terrorist and security operations – spanning the Armed Forces, Police and civilians. This initiative underscores the State’s unwavering commitment to support these families in recognition of their profound sacrifices for the nation.
Mr. Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), Major General El Sayed El Ghaly, Chairman of the Martyrs and Victims Honoring Fund and Dr. Mohamed Farid, FRA Chairman witnessed the signing ceremony of a strategic partnership between the Fund and Misr Life Insurance. The ceremony commenced with a minute of silence to honor the souls of Egypt’s martyrs who sacrificed their lives to safeguard the nation’s security, stability and glorious heritage.
Major General Ahmed Al-Ashaal, Executive Director of the Fund and Mr. Moustafa El Kamash, Executive Managing Director of Misr Life Insurance signed the contract. Senior leadership attended the event from the CBE, FRA, the Martyrs Fund and Misr Life Insurance.
Hassan Abdalla, Governor of the Central Bank of Egypt stated that the initiative fulfills presidential directives to provide comprehensive support to the families of martyrs and the injured, particularly minors. He emphasized that these efforts honor the sacrifices made to ensure the Egyptian people live in peace, security and prosperity.
He added that the CBE and the entire banking sector will spare no effort in bolstering the Fund’s resources to fulfill its noble mission.
Major General El Sayed El Ghaly reaffirmed the unwavering commitment of the political leadership to provide comprehensive care for the families of the nation’s heroes. He expressed his profound appreciation for the Central Bank of Egypt (CBE), FRA and Misr Life Insurance, while also commending the participating banks – specifically the National Bank of Egypt (NBE) and Banque Misr—for their pivotal roles in this initiative.
He further clarified that the initiative’s implementation will commence on January 1, 2026. Payments will be made directly to the beneficiaries upon reaching the age of 21, on a semi-annual basis: those turning 21 by June 30th will receive their disbursement in the first week of July, while those turning 21 by December 31st will receive it in the first week of January. Additionally, the Fund will include any new eligible cases in the initiative immediately upon their enrollment, ensuring they receive the same benefits.
Dr. Mohamed Farid, FRA Chairman, announced that the Authority has waived all commissions and administrative fees for the initiative. He noted that FRA’s role extends beyond regulation to ensure the initiative is managed with the highest standards of efficiency and governance. This oversight aims to maximize returns for minors, safeguarding their financial future and providing the security they deserve.
Mr. Moustafa El Kamash, Executive Managing Director of Misr Life Insurance, expressed his pride in participating in the initiative. He described it as a humble tribute to the children of martyrs, reflecting the company’s deep appreciation for their monumental sacrifices.
FRA Chairman Participates in Al Baraka Regional Forum Alongside Governor of Central Bank of Iraq and Dr. Mahmoud Mohieldin – Wednesday 17 December 2025
- In-depth talks addressed development finance and the global debt crisis, emphasizing ethical and sustainable financing.
Dr. Mohamed Farid:
- Low savings rates are a primary driver of escalating debt.
- Nations are responsible for financing their own development through diverse mechanisms; their future lies solely in their own hands.
- The Egyptian market is witnessing a surge in sustainability bond issuances.
- Market stability is a fundamental prerequisite for maximizing financing impact.
- Real Estate Investment Trusts (REITs) are witnessing unprecedented expansion.
Dr. Mohamed Farid, FRA Chairman participated in the opening session of the 5th edition of Al Baraka Regional Forum in Cairo, held in strategic partnership with the Arab League. The session was moderated by Dr. Mahmoud Mohieldin, UN Special Envoy on Financing the 2030 Sustainable Development Agenda and featured Dr. Ali Mohsen Al-Alaq, Governor of the Central Bank of Iraq.
Dr. Farid emphasized that nations must precisely define the responsibility for development finance. He explained that current challenges are symptoms of low national savings rates, which drive an increased reliance on borrowing – a cycle that has escalated into the current global debt crisis.
He highlighted the critical need to establish channels that facilitate savings and subsequent investment. This approach provides essential funding for diverse initiatives, spanning both “bankable” and “unbankable” projects.
FRA Chairman stressed that nations must realize that their growth and future prosperity lie solely in their own hands. Consequently, countries must take full responsibility for financing their development through diversified and innovative mechanisms.
Dr. Farid noted the shifting landscape of debt ownership. Unlike the previous three decades – when the Paris Club held the majority of sovereign debt – today’s debt is fragmented and distributed among a much wider array of creditors and stakeholders.
He pointed out that FRA has implemented a comprehensive legislative and regulatory reform. Driven by a belief in Sharia-compliant instruments, these reforms have successfully activated sustainable and Islamic finance tools, including the regulation of Sukuk issuances and Takaful insurance.
The Chairman highlighted the evolution of Sharia supervisory sub-committees within FRA-regulated institutions. He noted the maturing dynamics and workflows between these sub-committees and FRA’s Central Sharia Oversight Committee.
Dr. Farid underscored that achieving desired outcomes and meeting Sustainable Development Goals (SDGs) fundamentally depends on the will and diligent effort.
He emphasized that balancing oversight with empowerment is critical. He noted that any financial regulator’s primary objectives are to ensure market stability and protect all participants – whether they are capital market investors, insurance policyholders or consumers of non-banking financial services (NBFS).
He continued by stating that market stability, coupled with advanced regulatory frameworks, is a prerequisite for driving development, expanding market size and leveraging diverse financing tools. He pointed out his efforts to develop the sustainability bond activity in Egypt, which lacked clear regulation prior to his leadership at the Authority.
In response to a query from Dr. Mahmoud Mohieldin regarding the latest developments in the NBFS sector, FRA Chairman highlighted the decisive role of new legislative and regulatory frameworks in activating a wide array of financing instruments.
He noted the significant progress in sustainability bonds, highlighting Egypt’s first sustainability bond issuance in 2024, valued at $100 million. This was followed by the issuance of sustainability-linked securitization bonds worth $499 million in February 2024.
He added that further securitization bonds worth EGP 11.5 billion were issued, alongside the Egyptian market’s inaugural sustainability Sukuk issuance, valued at EGP 11 billion in May 2024.
Dr. Farid asserted that the lack of clear definitions had been a major hurdle for years. The development of robust regulatory rules has enabled projects that were previously excluded from traditional financing to access capital, thereby supporting the real economy and creating jobs.
He revealed that the number of real estate funds in Egypt had stagnated at just two from 2020 until 2025. However, recent regulatory amendments sparked a surge, with approximately 12 funds applying for licenses within just three months, supported by eight digital crowdfunding platforms dedicated to these funds.
He also pointed to the growth of Islamic Sukuk issuances following executive amendments to the Capital Market Law that standardized Sukuk definitions. These changes led to a significant increase in total issuances, reaching EGP 33.5 billion.
Furthermore, he noted that FinTech and crowdfunding have expanded the investor base, empowering new segments of society to participate in investment opportunities, particularly within the real estate and development sectors.
FRA has also enabled electronic “Know Your Customer” (E-KYC) procedures. To date, approximately 400,000 digital verification transactions have been completed.
Dr. Farid stressed the necessity of offering Islamic financing tools through digital platforms to align with the preferences and behaviors of younger generations, specifically Generation Z and Generation Alpha.
He concluded by emphasizing that the role of financial regulation extends beyond merely encouraging innovation; its core purpose is to achieve financial stability and protect investor rights. This foundation ensures sustainable market growth, bolsters confidence in new financing tools and transforms them into a genuine engine for development finance.
FRA Licenses 6 New Firms in Real Estate Funds, Factoring, Mortgage Finance and Fund Management – Wednesday 17 December 2025
- The approvals were granted to Awaed, Thndr, Nawy Shares, PFI Cayesh, Okaz and EFG
FRA Licensing and Incorporation Committee has approved licenses for six firms. The authorized activities span key non-banking financial sectors, specifically real estate fund, factoring, fund management and mortgage finance.
The Committee has approved the incorporation of Awaed Real Estate Fund Company and Thndr Fund Company. Additionally, Nawy Shares Fund Company has been officially licensed to operate within the same sector.
Furthermore, the Committee also licensed PFI Cayesh for factoring activities and officially added the company to Factoring Register. Regulatory approval was also granted to Okaz Asset Management to expand its mandate to include fund management. Similarly, EFG Financing Solutions received approval to add mortgage finance to its service portfolio.
As the designated body under FRA Chairman’s decree No. 3060 of 2023, this Committee is responsible for a broad mandate that extends beyond initial licensing. Its powers encompass approving the establishment and licensing of new non-bank financial companies, along with sanctioning requests for additional activities and mechanisms for existing firms.
The Committee also approves amendments to articles of association (both preliminary and final), and ratifies incentive and reward schemes. Furthermore, it provides opinions on suspending General Assembly resolutions for securities and consumer finance companies.
Additionally, the Committee approves the opening, relocation and closure of branches and processes requests for liquidation, temporary or voluntary suspension of activities. Finally, the Committee is responsible for the registration, renewal and delisting of founding agents for non-bank financial companies.