Egypt’s Financial Regulatory Authority (FRA) announced the official launch of its regulatory sandbox for technological applications, creating a controlled testing environment for innovative fintech solutions in Egypt’s non-banking financial sector. The launch, presented by FRA Chair Mohamed Farid at the FRA Fintech Forum 2025, is intended to support firms using fintech to deliver non-banking financial services and to strengthen supervisory understanding of emerging technologies. The sandbox is open to non-banking financial service providers and to firms seeking registration, or already registered, in the FRA’s fintech outsourcing register, allowing testing of fintech applications, business models and related mechanisms. Eligibility criteria include that the innovation is original to the Egyptian non-banking financial sector, ready for implementation, improves market efficiency, increases consumer benefit and protection, and is supported by a feasibility study and an effective plan. The process runs from application, review and approval through testing and evaluation, which can result in market entry, an extended testing period or rejection. FRA also launched the sandbox website, frasandbox.com, and outlined platform services including the sandbox, innovation programmes and hackathons, and regulatory and market guidance. FRA announced a first hackathon in partnership with Mercatura Forum with national, continental and global phases scheduled for August, September and October, with competition details and applications opening on 1 August and total prizes of up to USD 300,000. It also signalled an insurtech hackathon with AUC Vlab, with details and applications to be announced on 1 September, and reported wider digitisation uptake including 70 non-banking financial companies working toward digital service delivery, seven fintech outsourcing providers, around 120,000 digital verification checks and 80,000 digital contracts issued to date.

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