{"id":22085158,"date":"2024-09-29T11:19:15","date_gmt":"2024-09-29T08:19:15","guid":{"rendered":"https:\/\/fra.gov.eg\/%d8%af%d9%88%d8%b1-%d8%a7%d9%84%d9%87%d9%8a%d8%a6%d8%a9-%d9%81%d9%8a-%d8%a7%d9%84%d8%a5%d8%b4%d8%b1%d8%a7%d9%81-%d9%88%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9\/"},"modified":"2026-04-08T12:02:53","modified_gmt":"2026-04-08T10:02:53","slug":"%d8%af%d9%88%d8%b1-%d8%a7%d9%84%d9%87%d9%8a%d8%a6%d8%a9-%d9%81%d9%8a-%d8%a7%d9%84%d8%a5%d8%b4%d8%b1%d8%a7%d9%81-%d9%88%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9","status":"publish","type":"page","link":"https:\/\/fra.gov.eg\/en\/%d8%af%d9%88%d8%b1-%d8%a7%d9%84%d9%87%d9%8a%d8%a6%d8%a9-%d9%81%d9%8a-%d8%a7%d9%84%d8%a5%d8%b4%d8%b1%d8%a7%d9%81-%d9%88%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9\/","title":{"rendered":"The Authority\u2019s Role in Supervision and Oversight"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"22085158\" class=\"elementor elementor-22085158 elementor-13862790\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-27e49722 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"27e49722\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6933b286\" data-id=\"6933b286\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2159a6bf elementor-widget elementor-widget-text-editor\" data-id=\"2159a6bf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Supervision and Oversight of Sharia-Compliant Non-Bank Financial Activities<\/p><p>Within the framework of its mandate to diversify investment opportunities for investors and introduce new financial instruments to the Egyptian market, the FRA has sought to promote Islamic finance products and establish the legislative, Sharia, and supervisory frameworks necessary to ensure their development and stimulate market demand.<\/p><p>The FRA\u2019s primary role has focused on developing and continuously updating the legal framework governing takaful insurance, sukuk, Islamic investment funds, and Islamic finance products related to non-bank financial activities, in line with evolving developments in international markets.<\/p><p>The FRA has also strengthened its supervisory and regulatory oversight of these activities through several mechanisms, including:<\/p><ul><li>Exercising Sharia oversight through the Central Sharia Supervisory Committee.<\/li><li>Ensuring that companies operating in non-bank financial activities comply with applicable laws, regulations, and implementing instructions.<\/li><li>Conducting inspections of such companies to prevent violations or address and rectify any identified breaches.<\/li><li>Verifying that licensing requirements are fulfilled both prior to commencing operations and throughout the lifecycle of these companies.<\/li><li>Applying administrative measures and penalties in cases where companies violate applicable laws, regulations, or regulatory instructions.<\/li><\/ul><p>Accordingly, companies operating in Sharia-compliant non-bank financial activities are required to adhere to the ethical values and principles upon which Islamic finance is founded, in addition to complying with all applicable laws, regulations, and implementing instructions issued pursuant thereto.<\/p><p>The FRA also plays an important role in promoting financial literacy and awareness regarding Sharia-compliant financial products. Furthermore, it cooperates with international institutions and organizations to benefit from the experiences of leading Islamic finance jurisdictions. In this context, collaboration has taken place with the Islamic Development Bank and other international Islamic organizations, as well as capital market authorities in Malaysia, Saudi Arabia, United Arab Emirates, and Bahrain, to follow developments in global markets and develop joint memoranda of understanding aimed at advancing these products and exchanging expertise and ideas.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-347531f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"347531f\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f3229d3\" data-id=\"f3229d3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e07c47c elementor-tabs-view-horizontal elementor-widget elementor-widget-tabs\" data-id=\"e07c47c\" data-element_type=\"widget\" data-widget_type=\"tabs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-tabs\">\n\t\t\t<div class=\"elementor-tabs-wrapper\" role=\"tablist\" >\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-2351\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"elementor-tab-content-2351\" aria-expanded=\"false\">Decisions and Instructions<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<div class=\"elementor-tabs-content-wrapper\" role=\"tablist\" aria-orientation=\"vertical\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"elementor-tab-content-2351\" aria-expanded=\"false\">Decisions and Instructions<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-2351\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-2351\" tabindex=\"0\" hidden=\"false\"><ul><li><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2024\/10\/%D8%AA%D8%B4%D9%83%D9%8A%D9%84-%D9%84%D8%AC%D8%A7%D9%86-%D8%A7%D9%84%D8%B1%D9%82%D8%A7%D8%A8%D8%A9-%D8%A7%D9%84%D8%B4%D8%B1%D8%B9%D9%8A%D8%A9.pdf\">Formation of Sharia Supervisory Committees<\/a><\/li><li><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2024\/10\/\u0627\u0644\u062a\u062c\u062f\u064a\u062f-\u0641\u064a-\u0633\u062c\u0644-\u0642\u064a\u062f-\u0644\u062c\u0627\u0646-\u0627\u0644\u0631\u0642\u0627\u0628\u0629-\u0627\u0644\u0634\u0631\u0639\u064a\u0629.pdf\">Renewal of registration in the **Sharia Supervisory Committees Registry<\/a><\/li><\/ul><\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<div class=\"tmnf_excerpt\"><p>Supervision and Oversight of Sharia-Compliant Non-Bank Financial Activities Within the framework of its mandate to diversify investment opportunities for investors and introduce new financial instruments to the Egyptian market, the FRA has sought to promote Islamic finance products and establish the legislative, Sharia, and supervisory frameworks necessary to ensure their development and stimulate market demand. &hellip;<\/p>\n<\/div>","protected":false},"author":60,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/pages\/22085158"}],"collection":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/users\/60"}],"replies":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/comments?post=22085158"}],"version-history":[{"count":13,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/pages\/22085158\/revisions"}],"predecessor-version":[{"id":22103885,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/pages\/22085158\/revisions\/22103885"}],"wp:attachment":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media?parent=22085158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/categories?post=22085158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/tags?post=22085158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}