{"id":19990778,"date":"2025-12-16T11:07:24","date_gmt":"2025-12-16T09:07:24","guid":{"rendered":"https:\/\/fra.gov.eg\/fra_news\/%d9%84%d8%a3%d9%88%d9%84-%d9%85%d8%b1%d8%a9-%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d9%88%d8%a7%d9%81%d9%82-%d8%b9%d9%84%d9%89-%d8%aa%d8%a3\/"},"modified":"2025-12-17T12:45:41","modified_gmt":"2025-12-17T10:45:41","slug":"%d9%84%d8%a3%d9%88%d9%84-%d9%85%d8%b1%d8%a9-%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d9%88%d8%a7%d9%81%d9%82-%d8%b9%d9%84%d9%89-%d8%aa%d8%a3","status":"publish","type":"fra_news","link":"https:\/\/fra.gov.eg\/en\/fra_news\/%d9%84%d8%a3%d9%88%d9%84-%d9%85%d8%b1%d8%a9-%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d9%88%d8%a7%d9%81%d9%82-%d8%b9%d9%84%d9%89-%d8%aa%d8%a3\/","title":{"rendered":"FRA Licenses First Micro-insurance Firm (Sawa) and New Mortgage Startup (MNZL Fin)- Tuesday 16 December 2025"},"content":{"rendered":"<ul>\n<li><span style=\"color: #800000;\">FRA has granted approval for establishing Lucky as a digital consumer finance startup.<\/span><\/li>\n<li><span style=\"color: #800000;\">These decisions ensure compliance with tech and regulatory rules, expanding public access to non-banking financial services.<\/span><\/li>\n<li><span style=\"color: #800000;\">Recent licensing decisions confirms the readiness of technological and regulatory infrastructure within the non-banking financial system.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Financial Regulatory Authority (FRA) has issued approvals for three companies to engage in micro-insurance, mortgage finance and consumer finance activities. These include approving the establishment of the first micro-insurance company, licensing the first mortgage finance startup and establishing a new consumer finance startup.<\/p>\n<p>FRA&#8217;s licensing decisions enforce adherence to robust technological and regulatory standards, significantly expanding financial access for the Egyptian public across all non-banking financial services. These swift establishment and licensing approvals validate the readiness of the technological and regulatory infrastructure within the non-banking financial system.<\/p>\n<p>FRA Board of Directors approved the establishment of Sawa the first micro-insurance company. This action aligns with the Authority\u2019s mandate to implement the Unified Insurance Law and its subsequent executive decisions.<\/p>\n<p>The Unified Insurance Law No. 155 of 2024 includes a dedicated legislative chapter that governs the establishment of specialized micro-insurance companies. This provision facilitates the development of simple insurance products tailored to specific community segments, enables the expansion of micro-loan insurance and supports the issuance of new insurance products.<\/p>\n<p>In a related context, FinTech Committee issued an approval to MNZL Fin to practice mortgage finance, alongside its consumer finance activities. Furthermore, the Committee approved the establishment of Lucky as a new consumer finance startup.<\/p>\n<p>FinTech Committee, established under FRA Chairman&#8217;s Decree No. 3196 of 2023, holds the primary mandate for reviewing establishment and licensing applications from companies intending to use financial technology for non-banking activities. Furthermore, it rules on requests from existing licensed firms seeking to integrate specific FinTech applications into their current operations.<\/p>\n<p>The Committee\u2019s authority also encompasses approving registrations in the Outsourcing Services Register, issuing temporary licenses for FinTech startups and formulating proposals for the executive regulations of FinTech Law.<\/p>\n","protected":false},"author":94,"featured_media":19934799,"parent":0,"template":"","format":"standard","categories":[142,144],"tags":[],"fra_news_taxonomy":[2137,2138],"news_paper_taxonomy":[],"_links":{"self":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news\/19990778"}],"collection":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news"}],"about":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/types\/fra_news"}],"author":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/users\/94"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media\/19934799"}],"wp:attachment":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media?parent=19990778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/categories?post=19990778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/tags?post=19990778"},{"taxonomy":"fra_news_taxonomy","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news_taxonomy?post=19990778"},{"taxonomy":"news_paper_taxonomy","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/news_paper_taxonomy?post=19990778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}