Egypt Financial Regulatory Authority highlights cybersecurity as a financial-stability priority and reports 16 fintech licences and 4 registered outsourcing providers

In a keynote at the Caisec25 information security and cybersecurity conference, the Egypt Financial Regulatory Authority set out its focus on strengthening cyber resilience across the non-banking financial sector, describing cyberattacks and database breaches as a central risk that supervisors must prepare for to support market stability. The Authority linked its ongoing fintech and cybersecurity policy work to protecting customer data and reported that 16 entities have obtained fintech licences. The remarks referenced the regulatory framework under Law No. 5 of 2022 and a package of executive decisions supporting digital financial services in non-banking finance. These include Decision No. 139 of 2023 on technological infrastructure, information systems, and protection controls; Decision No. 140 of 2023 on digital identity, digital contracts, and digital records, including detailed requirements for electronic customer identification; and Decision No. 141 of 2023 establishing an outsourcing register for fintech-related services. Around 110 institutions were described as complying with the Authority’s cybersecurity requirements, out of more than 3,500 entities under its supervision. Four outsourcing providers are currently registered to deliver services such as electronic identification, verification and authentication, electronic customer identification, digital contract execution for non-banking financial products, and digital recordkeeping, with the Authority expecting further market entry.