الهيئة العامة للرقابة المالية

FRA Chairman:

• Recent regulations enable non-banking financial institutions to safely deliver services digitally.
• Significant growth in e-KYC and digital contracts across capital markets, insurance and non-banking finance.
• 7M+ e-KYC verifications and 862K+ digital contracts registered to date.
• FRA Sandbox provides a secure testing ground for new FinTech solutions; 2 projects have advanced to active market testing.
• Advancing research on AI for predictive market analytics and early risk detection.

Financial Regulatory Authority (FRA), chaired by Dr. Islam Azzam, participated in the 30^th  edition of Cairo International Technology Exhibition and Conference (Cairo ICT 2026). The event kicked off under the theme “AI in Action,” with Prime Minister Dr. Moustafa Madbouly in attendance at Egypt International Exhibition Center (EIEC).

During the exhibition, Prime Minister Madbouly visited FRA pavilion, where Dr. Islam Azzam presented the Authority’s latest efforts to drive safe digital transformation across non-banking financial activities. He emphasized that FRA stands at the forefront of establishing a comprehensive legislative framework, anchored by Law No. 5 of 2022 on Regulating the Use of FinTech in Non-Banking Financial Activities.

FRA Chairman highlighted the series of regulatory decisions that paved the way for a complete framework governing FinTech adoption in non-banking financial activities. Key measures include guidelines for electronic Know-Your-Customer (e-KYC) processes, digital contract execution and archiving, digital register management, and strict standards for digital identity, governance, risk management, data privacy, and cybersecurity. These mandates actively incentivize the integration of FinTech across capital markets, investment funds, insurance, and non-banking financing sectors.

Dr. Islam Azzam explained that these regulations establish an integrated ecosystem enabling companies to deliver financial services digitally, securely, and reliably. Regulated institutions are required to upgrade their technological infrastructure to guarantee data protection and manage tech risks. Additionally, companies must create comprehensive systems for verification, digital identity, smart contracts and outsourcing registries. To maintain licensing compliance, institutions must institute dedicated cybersecurity policies, conduct periodic penetration testing with regular reporting to FRAand secure mandatory cyber liability insurance coverage.

These efforts have led to a massive surge in digital onboarding across Egypt’s non-banking financial sector. E-KYC verifications reached over 1.727 million as of late October 2026, up significantly from 354,000 at the end of 2025. Similarly, registered digital contracts reached 862,000, compared to 190,000 recorded at end-2025.

 He added that to foster continuous innovation, FRA Regulatory Sandbox has served as a controlled testing ground for emerging market solutions. The sandbox has processed 67 applications and issued 67 regulatory guidance notes to date. Out of these, 11 projects have received preliminary approval, with 2 projects successfully advancing to live market testing. Additionally, the Authority has conducted specialized training programs to enhance the capabilities of professionals across various non-banking financial sectors in cybersecurity and financial technology.

Dr.  Islam Azzam also highlighted the latest tech-driven developments incentivizing investment under FRA supervision. Most notably, this includes digital platforms for investing in Real Estate Investment Fund units—representing state-of-the-art systems where FinTech is widely deployed, requiring advanced and comprehensive security measures across all transactions between funds, platform management and investors.

In alignment with Cairo ICT’s focus on artificial intelligence, FRA is laying the foundation for advanced supervisory technology and predictive analytics. The Authority is actively studying AI integration to automate data analysis, extract dynamic market indicators, enhance early risk detection, and establish a centralized cross-sector anti-fraud network.

To support these initiatives, FRA is rolling out a central digital integration project across all regulated entities. This system enables real-time data analysis, feeding key insights back into the market to help institutions design tailored insurance and financing products.

FRA pavilion also features joint participation from major industry bodies, including federations representing Insurance, Real Estate Finance, SME & Microfinance, Consumer Finance, Factoring, Financial Leasing, and Securities.

The pavilion provides exhibition visitors with an up-close look at non-banking financial activities and the opportunities FinTech offers to develop products and services. Visitors can engage directly with specialized FRA representatives from the Central Directorate for Financial Awareness and Culture. Additionally, the pavilion features educational booklets for adults and children under the “I Invest” initiative, alongside interactive presentations designed to educate citizens of all ages on safe, FRA-regulated investment opportunities, as well as consumer rights and obligations.