Egypt Financial Regulatory Authority briefs global investors on non-banking financial sector reforms and fintech-led market development

The Egypt Financial Regulatory Authority, led by chairman Mohamed Farid, participated in open investor dialogues organised by Standard Group and Citi Bank on the sidelines of the International Monetary Fund and World Bank Meetings in Washington, DC. The discussions showcased regulatory and supervisory developments in Egypt’s financial markets, with a focus on reforms in the non-banking financial sector alongside the government’s broader fiscal, monetary and structural reform programme. Farid highlighted recent structural, legislative and regulatory reforms across insurance, capital markets and non-banking finance. In insurance, the focus was on stronger insurer capitalisation and solvency and on implementing the Unified Insurance Law No. 155 of 2024. In capital markets, the Authority pointed to measures aimed at strengthening transparency, disclosure, market discipline and investor protection, while encouraging broader citizen participation in the stock exchange and developing new financing and investment tools to support start-ups and small and medium-sized enterprises, as well as sustainable finance and the voluntary carbon market. He also framed digital transformation as a core pillar of the agenda, citing support for financial technology adoption, development of electronic infrastructure and platforms for licensing, supervision and disclosure, the use of data analytics, and the Financial Technology Lab as a supervised testing environment for innovations across activities such as microfinance, financial leasing, mortgage finance and consumer finance.