{"id":23370941,"date":"2026-06-15T10:34:42","date_gmt":"2026-06-15T07:34:42","guid":{"rendered":"https:\/\/fra.gov.eg\/fra_news\/%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%d8%b9%d9%82%d8%af-%d8%a3%d9%88%d9%84-%d8%a7%d8%ac%d8%aa%d9%85%d8%a7%d8%b9%d8%a7%d8%aa-%d8%a7%d9%84\/"},"modified":"2026-06-16T12:32:23","modified_gmt":"2026-06-16T09:32:23","slug":"%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%d8%b9%d9%82%d8%af-%d8%a3%d9%88%d9%84-%d8%a7%d8%ac%d8%aa%d9%85%d8%a7%d8%b9%d8%a7%d8%aa-%d8%a7%d9%84","status":"publish","type":"fra_news","link":"https:\/\/fra.gov.eg\/en\/fra_news\/%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%d8%b9%d9%82%d8%af-%d8%a3%d9%88%d9%84-%d8%a7%d8%ac%d8%aa%d9%85%d8%a7%d8%b9%d8%a7%d8%aa-%d8%a7%d9%84\/","title":{"rendered":"FRA Sandbox Holds First Advisory Committee Meeting &#8211; Monday 15 June 2026"},"content":{"rendered":"<p dir=\"ltr\" style=\"text-align: left\"><strong>Dr. Islam Azzam, FRA Chairman:<\/strong><\/p>\n<ul style=\"text-align: left\">\n<li><span style=\"color: #800000\">FRA Sandbox is an integrated ecosystem designed to drive innovation and test next-generation tech solutions across the non-banking financial sector.<\/span><\/li>\n<li><\/li>\n<li><span style=\"color: #800000\">Streamlining digital transformation while rigorously maintaining market stability and investor protection.<\/span><\/li>\n<li><\/li>\n<li><span style=\"color: #800000\">Ahmed Khalifa: Milestone achievements within the first year include 5 approved projects, 13 signed MoUs, and regulatory guidance delivered to 37 entities.<\/span><\/li>\n<\/ul>\n<p dir=\"ltr\">\u00a0Financial Regulatory Authority (FRA) chaired by Dr. Islam Azzam, has convened the inaugural meeting of Sandbox Advisory Committee . This comes after a\u00a0 year since\u00a0 the launch of FRA Sandbox. The meeting underscores\u00a0 FRA\u2019s commitment to accelerate digital innovation. Furthermore, it advances the legislative and regulatory frameworks required to deeply integrate financial technology into Egypt&#8217;s non-banking financial sector.<\/p>\n<p><img class=\"wp-image-23352224 alignleft\" src=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/06\/WhatsApp-Image-2026-06-15-at-10.27.42-AM-300x169.jpeg\" alt=\"\" width=\"346\" height=\"195\" srcset=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/06\/WhatsApp-Image-2026-06-15-at-10.27.42-AM-300x169.jpeg 300w, https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/06\/WhatsApp-Image-2026-06-15-at-10.27.42-AM-1024x576.jpeg 1024w, https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/06\/WhatsApp-Image-2026-06-15-at-10.27.42-AM-768x432.jpeg 768w, https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/06\/WhatsApp-Image-2026-06-15-at-10.27.42-AM-1536x864.jpeg 1536w, https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/06\/WhatsApp-Image-2026-06-15-at-10.27.42-AM.jpeg 1600w\" sizes=\"(max-width: 346px) 100vw, 346px\" \/><\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Chaired by Dr. Islam Azzam, Chairman of the Financial Regulatory Authority (FRA), with Eng. Ahmed Khalifa, Executive Director of the Regulatory Sandbox, serving as Vice-Chairman, the Advisory Committee comprises a distinguished elite of industry experts and specialists. The committee members include Mr. Alaa El-Zoheiry, Chairman of the Insurance Federation of Egypt (IFE) and Managing Director of GIG Insurance, alongside Eng. Ibrahim Sarhan, Chairman and Managing Director of e-finance Investment Group. Academic and international expertise is represented by Dr. Ayman Ismail, Abdul Latif Jameel Endowed Chair of Entrepreneurship at AUC\u2019s Onsi Sawiris School of Business and Founder of the AUC Venture Lab, and Ms. Karima El-Hakim, Executive Partner for Egypt and Africa at Plug and Play Tech Center. In addition to\u00a0 Eng. Sherif Shaltout, Regional Director for the Middle East and North Africa at Liquid C2, and Dr. Mohamed Hegazy, Consultant for Digital Legislation and Intellectual Property.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Dr. Islam Azzam emphasized that forming the Advisory Committee aligns with FRA&#8217;s commitment to leverage local and international expertise. This collaboration aims to accelerate financial innovation and develop the Regulatory Sandbox in accordance with global best practices, reinforcing Egypt\u2019s position as a regional hub for FinTech innovation within the non-banking financial sector (NBFS).<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">He added that the Regulatory Sandbox is a modern regulatory tool that enables startups and financial institutions to test new digital products and solutions within a secure, agile, and live-monitored testing environment. In less than a year since its inception, it has evolved into a fully integrated ecosystem that successfully balances the promotion of technological innovation with market stability and investor protection.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">During the meeting , the committee reviewed the Sandbox&#8217;s milestones during its inaugural year. Eng. Ahmed Khalifa highlighted that the authority has already issued 5 preliminary approvals for innovative FinTech projects to undergo controlled testing within the supervised environment.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Additionally, the Sandbox has established 13 Memorandums of Understanding (MoUs) with various market stakeholders and delivered regulatory guidance to 37 distinct entities. Eng. Khalifa noted that these regulatory interventions are crucial for assessing the commercial viability and regulatory compliance of tech solutions before they scale across the wider market.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">He added that the onboarding process begins when applicants submit a proposal featuring a genuinely new FinTech solution tailored for Egypt\u2019s non-banking financial sector. The project must be deployment-ready, backed by a robust feasibility study, and demonstrate clear market efficiency benefits for consumers. The application then undergoes a comprehensive review process and enters the testing phase, leading up to a final evaluation where the project is either granted official approval, subjected to an extended testing period, or rejected<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">The meeting outlined the primary strategic objectives of the Advisory Committee, focusing heavily on building an enabling environment for NBFS FinTech projects that meets global benchmarks to attract top-tier domestic and international talent. The committee also aims to enhance ecosystem collaboration to scale the Sandbox\u2019s reach, with a distinct focus on building pan-African partnerships, while offering expert counsel on policy frameworks to nurture knowledge transfer across the wider Egyptian FinTech landscape.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Looking ahead, the committee aligned on several operational priorities for the Sandbox&#8217;s next growth phase. Members agreed to broaden the base of beneficiary enterprises, prioritize solutions integrating Artificial Intelligence (AI) and advanced digital financing, and establish robust mechanisms to measure the socioeconomic impact of financial innovation.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">\u00a0Committee members emphasized the importance of continuously developing a regulatory environment that supports innovation. They also stressed the need to enhance collaboration among regulatory bodies, private sector institutions, and startups within the sectors regulated by the Authority, thereby supporting the state\u2019s objectives for sustainable economic development and financial inclusion.<\/p>\n","protected":false},"author":94,"featured_media":23352237,"parent":0,"template":"","format":"standard","categories":[142,144],"tags":[3745,3791,3910,4937,4953,5115],"fra_news_taxonomy":[2137,2138],"news_paper_taxonomy":[],"_links":{"self":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news\/23370941"}],"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\/23352237"}],"wp:attachment":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media?parent=23370941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/categories?post=23370941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/tags?post=23370941"},{"taxonomy":"fra_news_taxonomy","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news_taxonomy?post=23370941"},{"taxonomy":"news_paper_taxonomy","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/news_paper_taxonomy?post=23370941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}