The Egypt Financial Regulatory Authority (FRA) chair, Mohamed Farid, briefed newspaper editors on the authority’s work to develop Egypt’s non-banking financial sector and announced that a long-term advertising campaign to raise public awareness of insurance will be launched in the coming days. The campaign is positioned as a first step toward changing perceptions and increasing take-up, with further campaigns planned for the capital market and non-banking finance. Farid also pointed to the Egyptian Exchange’s readiness for new listings amid an upward trend in liquidity and trading, alongside an approach that aims to balance investor protection and market stability with trading driven by supply and demand. Regulatory priorities highlighted included Basel III-aligned solvency standards for non-banking finance providers to strengthen financial positions, liquidity and risk management, and ongoing monitoring to stop firms conducting non-banking financial activities without a licence, supported by a periodically updated “negative list” first published in May based on complaints. Additional initiatives cited included tighter organisation of consumer finance and micro, small and medium-sized enterprise financing to support formalisation; improving investment management in private insurance funds to increase benefits for members and pensioners; “exceptional” updates to Egyptian Accounting Standards (including fair value measurement); growth in gold investment funds to more than 200,000 investors with net assets of EGP 2.7bn as of end-August; and the regulation of digital platforms distributing real estate fund certificates to provide supervised access to fractional property investment. The FRA expects the insurance campaign to start in the coming days, with subsequent public campaigns to follow for capital markets and non-banking finance.

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