الهيئة العامة للرقابة المالية

• FRA renews its warning to citizens not to deal with unlicensed entities, as this exposes them to serious financial risks.
• This blacklist includes social media pages that encouraged consumer finance customers to cash out their granted credit limits.
• The violations involved providing technical advice to Egyptian Stock Exchange traders using artificial intelligence.
• FRA confirmed that none of the pages or entities on the negative list have either regularized their status or applied for the necessary license.

In a continued effort to stabilize non-banking financial markets and protect consumers, FRA has added eight social media pages to its negative list. The Authority’s decision is part of its core mission to regulate non-banking financial activities and maintain market integrity.

The violations included urging consumer finance customers to cash out their credit limits, an action that illegally converts consumer financing into cash and violates the law governing the activity.

In addition, one of the pages provided technical advice to Egyptian Stock Exchange dealers using artificial intelligence programs without a license and in violation of the provisions of the law.

In this context, the Authority has renewed its warning to citizens, urging them to avoid engaging with unlicensed entities. These entities operate in violation of non-banking financial laws and pose a serious threat to their funds and legal rights.

The Authority has launched dedicated email channels to facilitate communication with both the public and businesses. One email is for individuals to report suspicious investment or financing invitations that may contain fraud or deception, while a separate email is for companies to verify that their business models comply with all regulatory requirements, ensuring their stability and the reliability of their services.

To view the negative list of entities and pages that illegally operate in non-banking financial activities, visit the following link:

https://services.fra.gov.eg/alerts

To view the list of entities licensed to practice non-banking financial activities (investment, non-banking finance, insurance), please visit the following link:

https://fra.gov.eg/registration/

For inquiries about the legal and regulatory requirements for promoting stock subscriptions, please contact us at:

Inquiries@fra.gov.eg

To report invitations from unlicensed entities, please use the following email:

whistleblowing@fra.gov.e