الهيئة العامة للرقابة المالية

FRA Licenses 13 Companies for Non-Banking Financial Activities – Tuesday 23 June 2026

Financial Regulatory Authority (FRA) chaired by Dr. Islam Azzam has granted operational approvals and licenses to 13 companies. These approvals are part of FRA’s broader framework to bolster market quality and competitiveness, enhance attractiveness for foreign and local investments and broaden public access to diverse financial services.

 Among the newly approved entities are wilzy Real Estate Investment Fund Company established to operate as a dedicated real estate fund and Amtaar Capital for Financial Investments securing a license for securities promotion and underwriting.

The approvals include the incorporation of Al-Ahly Tamkeen for Consumer Finance which had submitted its application for establishment, licensing, and operations prior to the issuance of FRA Board Resolution No. (43) of 2026 last February. That resolution had placed a temporary freeze on accepting new applications and granting preliminary approvals for companies seeking consumer finance licenses.

Additionally, the approvals covered the establishment of Insights SB Financial Consulting and Tameh for Promotion, Underwriting, and Real Estate Investment Fund Management. FRA also licensed Al- Ahly Capital for Microfinance to conduct medium and small enterprise financing besides its primary activity, while authorizing “Nile Leasing” to add factoring to its approved business lines.

Furthermore, the Authority approved adding real estate finance activity to International company of leasing (Incolease). Finally, Sakr for Underwriting and Fund Management and Tycoon Securities were licensed to receive subscriptions for investment fund units.

The approvals also include listing Dahab Zaman for Gold Trading in FRA’s registry of approved entities authorized to trade precious metals with investment funds.

Additionally, in compliance with Board Resolution No. (278) of 2025, FRA officially added EgyServ and Egyptian International to its registry of authorized collection firms serving the non-banking financial sector.

FRA grants these approvals under its constitutional and legal mandate to regulate and supervise Egypt’s non-banking financial markets and instruments. This oversight spans capital markets, futures exchanges, insurance sectors, real estate finance, financial leasing, factoring, and securitization, alongside the authority’s core role of governing the incorporation and licensing of all operating entities within these markets.

Dr. Islam Azzam at Sadat Academy: Partnering with Gov’t & Academia to Raise Non-Banking Financial Awareness – Monday 22 July 2026

FRA Chairman: “Boosting capacity and professional efficiency to drive innovation and financial inclusion.”

Dr. Islam Azzam, FRA Chairman recently participated in the annual scientific conference of Sadat Academy for Management Sciences, held under the theme “Smart Management in the Knowledge Era.” Chaired by Academy President Dr. Mohamed Saleh Hashem, the prestigious event drew widespread participation from senior officials, prominent academic figures, and members of parliament representing both the House of Representatives and the Senate.

On the sidelines of the conference, the Academy’s Board of Directors held its regular meeting exceptionally, with the participation of both Dr. Hussein Issa and Dr. Islam Azzam. Discussions focused on maximizing cooperation between the Academy and regulatory and government entities across scientific and professional fields. This will be achieved through collaborative efforts in training and capacity building to raise the efficiency of the administrative apparatus across various sectors, as well as developing postgraduate programs and scientific research for researchers from both inside and outside Egypt.

Dr. Islam Azzam commended the conference’s focus on developing government administration and maximizing the impact of digital transformation and Artificial Intelligence (AI). He emphasized that these advancements are vital to enhance knowledge capital, directly support the objectives of “Egypt Vision 2030” – most notably driving local and foreign investment and expanding the private sector’s role in the economy.

Furthermore, Dr. Azzam underscored FRA’s commitment to collaborate with government and academic entities to raise financial literacy. This partnership aims to bridge the gap between theoretical knowledge and practical application for youth across all age groups. He noted that the growing influx of young people into various investment sectors requires a stronger focus on training. Providing them with accurate, reliable information on capital markets, investment funds, insurance, leasing and factoring is essential to raise awareness of non-banking financial activities.

Dr. Azzam also highlighted the Authority’s ongoing initiatives in capacity building and professional development across its regulated sectors. These efforts aim to foster innovation and leverage FinTech and AI to deliver new services that meet citizens’ evolving needs and align with global trends. Additionally, these initiatives drive financial inclusion by introducing accessible new insurance and financing products, particularly for underserved communities.

FRA Registers First Debt Collection Firms for Non-Banking Financial Sector – Monday 22 June 2026

Dr. Islam Azzam – FRA Chairman:

“Registration establishes a comprehensive regulatory framework for debt collection to safeguard consumer rights.”

Financial Regulatory Authority (FRA) chaired by Dr. Islam Azzam, has approved the registration of “EGY SERV” and “Egyptian International” as debt collection firms for Non-Bank Financial Sector. These are the first two firms to be listed in the newly created registry which was established by the Authority to regulate debt collection and set a clear supervisory and professional framework.

This milestone comes in implementation of FRA Board of Directors Resolution No. (278) of 2025. The resolution introduced a dedicated registry for collection firms and explicitly prohibited non-banking financial entities from dealing with unregistered collection companies. It also granted existing non-banking financial institutions a six-month grace period to comply with the new regulations, which expires on July 22.

Dr. Islam Azzam, FRA Chairman emphasized that establishing this registry and initiating company listings represents a vital step toward enhancing the efficiency and organization of the non-banking financial market. By introducing clear rules and standards for financial collection, the framework aims to foster trust among market participants while elevating levels of governance and professional discipline.

He further explained that FRA continues to develop the regulatory and supervisory frameworks for non-banking financial activities to keep pace with rapid market changes, ensuring a balance between supporting financial growth and protecting consumer and investor rights.

Under FRA Board of Directors Resolution No. (278) of 2025, the newly established registry  shall contain all critical corporate data, including the legal name, corporate structure, business purpose, and headquarters address of collection firms, alongside profiles of executive management, legal representatives and official contact details.

 To enforce compliance, non-banking financial entities are strictly prohibited from utilizing any unregistered collection agencies once the transition period ends.

 To gain entry into the registry, applicant firms must submit a formal request to FRA accompanied by all necessary supporting documentation. This includes the company’s articles of association, audited financial statements, and a verified track record of prior collection service contracts, which FRA will review and rule upon within a maximum of 30 days from submission.

The resolution stipulates that any applicant must be formally structured as a recognized commercial corporate entity with a business purpose explicitly dedicated to debt collection. Financially, companies are required to maintain a minimum issued and paid-in capital of EGP 10 million (or its foreign currency equivalent) and total equity of at least EGP 20 million.

For companies that do not meet the minimum equity requirement, the resolution offers an alternative pathway: they must have actively operated in the financial collection sector for at least three consecutive years prior to their application date. However, FRA mandates that under all circumstances, a company’s total equity must never fall below its paid-in capital.

 According to the resolution, registration remains valid for a three-year term and is renewable for equivalent periods, provided the firm continues to fulfill all compliance standards. Renewal requests must be submitted to the Authority at least three months before the current registration expires.

To safeguard market integrity, the resolution holds registered companies to strict standards of honesty, integrity, and professionalism. The regulation explicitly bars collection firms from any practices that could harm consumers or partner financial institutions. Additionally, these entities are restricted solely to collection activities and are prohibited from providing their own financing or lending services.

To safeguard financial transactions, the resolution establishes strict collection mechanisms. It explicitly prohibits collection companies from depositing any recovered funds into their own corporate bank accounts. Instead, the framework mandates the exclusive use of approved non-cash payment methods or checks issued directly in the name of the creditor entity – a measure designed to significantly enhance transparency and minimize operational risks.

The resolution enforces strict compliance with client data confidentiality. Collection firms are barred from sharing or using this sensitive information for any unauthorized purposes. Furthermore, these companies must provide FRA with comprehensive semi-annual reports detailing their operational performance, contracted entities, total funds collected and the specific collection channels deployed.

In a concerted effort to tighten market oversight and protect consumer rights, the resolution requires all non-banking financial institutions to notify clients of their contracted collection firms. Institutions must provide customers with reliable verification methods to confirm a collector’s identity, alongside official channels for communication. Furthermore, financial entities are obligated to monitor complaints filed against these collection agencies and take prompt corrective action when necessary.

The resolution grants FRA Chairman the authority to penalize registered firms that violate these regulations. Depending on the severity of the breach, enforcement actions can scale from formal warnings and temporary suspensions to permanent delisting from the registry.