الهيئة العامة للرقابة المالية

Dr. Tarek Seif, Executive Director of the Financial Services Institute:

• The FinTech framework delivers safe, licensed digital channels for insurance and financing solutions.
• Fostering financial inclusion through innovative investment tools, including precious metals funds and real estate funds’ platforms.
• Raising financial awareness remains the vital shield for safe investment and client protection.

Dr. Tarek Seif, Executive Director of the Financial Services Institute (FSI) – FRA’s training arm – represented FRA Chairman Dr. Islam Azzam at the 7^th  Egyptians Abroad Conference, joining a key panel titled “Connecting Egyptians Abroad with Egypt’s FinTech Ecosystem”

This participation highlights continuous coordination between FRA and Ministry of Foreign Affairs, International Cooperation and Egyptians Expatriates to expand non-banking financial services (NBFS) globally, especially insurance sector. A key milestone includes FRA’s recent approval of a new personal accident and unfair dismissal insurance policy for Egyptian expats, launched in collaboration with the Ministry of Interior and the Egyptian Pool for Travel Insurance (EPTI).

During the panel, Dr.  Tarek Seif emphasized that developments in Egypt’s FinTech regulatory frameworks allow expatriates to access investment instruments and financial products through licensed, FRA-supervised digital channels. This delivers a secure, transparent environment while ensuring expat investments align with international best practices.

He emphasized that FRA is mandated to regulate, supervise and oversee Egypt’s non-banking financial sector. The Authority’s core responsibilities encompass establishing market regulations, safeguarding transactions, protecting investor rights and ensuring overall market stability. Expanding access to non-banking financial services remains a primary pillar of FRA’s strategy to accelerate national financial inclusion.

He concluded by noting that FRA has fully finalized the regulatory framework for Law No. 5 of 2022 (FinTech Regulation Law). This framework sets clear guidelines for digital licensing, fintech operations, corporate governance, risk management and data privacy – laying a solid foundation for the rapid scale-up of digital financial services.

He noted that leveraging this ecosystem requires more than just technological availability; it depends on consumers’ ability to understand digital financial products, distinguish licensed entities from unauthorized ones, recognize their rights and obligations and define clear investment priorities. Consequently, financial literacy and awareness serve as indispensable drivers of successful digital transformation and financial inclusion.

Dr.  Tarek Seif highlighted that promoting financial literacy is a legally defined mandate for FRA, built on the principle that an investor’s understanding of rights and product risks is their primary defense. The Authority carries out this mandate through the Financial Services Institute (FSI) and Awareness and Financial Literacy Central Department, collaborating with the Ministries of Education, Higher Education and Youth and Sports. This comprehensive strategy includes public outreach and summer training programs for university students to reach all segments of society, including Egyptian expatriates.

He also shed light on recent developments in the insurance sector in accordance with the Unified Insurance Law No. 155 of 2024, framing it as a vital pillar of financial inclusion. Additionally, he pointed to rapidly expanding investment vehicles available through FRA-supervised entities—such as gold and silver investment funds, real estate investment funds and digital platforms which offer diverse, flexible options tailored to different investor profiles.

Dr. Tarek Seif concluded by offering three essential tips for Egyptian expatriates: first, prioritize financial literacy as the foundation of sound economic decisions; second, deal exclusively with FRA-licensed entities; and third, safeguard personal and financial data as the critical first line of defense against online fraud.