Egypt's Financial Regulatory Authority published its first comprehensive guide consolidating the rules and supervisory requirements for consumer finance companies and other licensed operators. Based on the Consumer Finance Activity Regulation Law No. 18 of 2020 and subsequent decisions and circulars, the guide provides existing and prospective firms with a single reference covering establishment, licensing, capital, ownership, governance, internal controls and core operating requirements. The guide brings together prudential standards based on Basel III, including capital adequacy, leverage, liquidity, provisioning, concentration risk and stress testing. It also covers creditworthiness assessments, anti-money laundering and counterterrorist financing controls, customer disclosures and safeguards, cybersecurity, debt collection and cash financing. Customer protection requirements include clear disclosure of costs and repayment terms, a ban on blank-signed documents and trust receipts as security, and insurance for financed customers through age 65 against death and permanent total disability equal to the outstanding financing balance.
2026-09-05Egypt Financial Regulatory Authority
Egypt's Financial Regulatory Authority publishes first comprehensive consumer finance regulatory guide
Egypt's Financial Regulatory Authority published its first comprehensive guide consolidating consumer finance requirements into a single compliance reference. It covers licensing, governance, prudential standards, credit assessment, customer protection, financial crime controls, cybersecurity, debt collection and insurance obligations.