الهيئة العامة للرقابة المالية

• Companies Must Notify “I-Score” Instantly Across All Loan Lifecycle Stages Starting from Initial Approval
• Real-time electronic links to Be Completed Within 3 Months of Publication in the Official Gazette

Dr. Islam Azzam, FRA Chairman:

• Real-time electronic links enhances the integrity of underwriting decisions and boosts operational efficiency across the sector.
• Instantly updating credit data reduces default rates and protects borrowers from over-indebtedness risks.
• This step supports FRA’s strategy to balance sector growth with institutional stability and consumer protection.

Financial Regulatory Authority (FRA), chaired by Dr. Islam Azzam, has issued two decisions mandating consumer finance companies and micro, small and medium enterprise (MSME) financing institutions to establish real-time electronic links with credit bureau I-Score. The decision aims to strengthen credit oversight across all financing stages while enhancing the speed, accuracy and efficiency of creditworthiness assessments and reporting processes.

Under FRA Board Decisions No. 174 of 2026, licensed consumer finance entities must report customer data to I-Score instantly upon loan approval, disbursement, partial or total repayments, facility termination, the initiation of legal or judicial proceedings, or any status changes regarding legal actions.

Furthermore, consumer finance companies remain obligated to submit monthly credit reports within five business days following the end of each month using standard reporting templates.

Similarly, Board Decision No. 175 of 2026 mandates licensed MSME financing companies, associations, and NGOs (Categories A and B) to implement the same real-time reporting framework across the same designated trigger events: upon initial financing approval, fund disbursement, partial or full loan repayments, facility termination, the initiation of legal or judicial proceedings, or any subsequent status change regarding such actions.

Both Decisions grant non-banking financial entities a three-month deadline from the date of publication in the Official Gazette (El-Waqaea Al-Masryia) and on FRA’s official website to finalize full electronic link with I-Score.

Dr. Islam Azzam, FRA Chairman underscored that real-time electronic link with I-Score will empower companies to make well-informed decisions that boost market efficiency and growth, while simplifying data monitoring and regulatory supervision.

“Real-time data integration directly improves operational efficiency and credit evaluation standards. It equips lenders to verify existing liabilities, track borrower statuses, ensure proper utilization of funds, and monitor repayment compliance—ultimately safeguarding the financial soundness of non-banking financial institutions,” Dr. Azzam stated.

“Updating customer credit data accurately and in real time equips non-banking financial entities to make sound underwriting decisions. This minimizes default rates, protects borrowers from over-indebtedness and ultimately reinforces the overall stability of the non-banking financial sector and market oversight,” stated the FRA Chairman

Dr. Islam Azzam noted that the mandate for real-time integration reflects FRA’s ongoing efforts to strike a balance between developing regulated markets and safeguarding market participants through modern digital tools. He added that seamlessly connecting non-banking financial stakeholders aligns with the governing legal and regulatory frameworks spanning capital markets, insurance and non-banking finance.