The Egypt Financial Regulatory Authority (FRA) set out its priorities and recent regulatory initiatives to reform the non-bank financial sector, with a focus on market integrity and stability, investor and customer protection, digitalisation, and expanding the range and depth of available products. The update was delivered by FRA Chairman Mohamed Farid during a keynote and investor dialogue at “Egypt Day”, hosted by the London Stock Exchange. The FRA highlighted ongoing work to build a more digital market infrastructure through an integrated electronic system based on electronic identity verification, digital contracts, and linking identity data to mobile phone numbers. It cited market take-up including more than 200,000 new accounts in gold investment funds over one year and investments exceeding EGP 2 billion. Regulatory developments referenced included frameworks for listing and trading special purpose acquisition company (SPAC) shares and the receipt of an initial SPAC establishment request, which has been listed on the Egyptian Exchange to pursue acquisitions in non-bank financial services and fintech. The FRA also pointed to comprehensive updates to Egyptian accounting standards, including wider use of fair value and revaluation models, and the issuance of startup valuation standards introducing methods suited to pre-revenue companies. On sustainable finance, the FRA referenced the organised, supervised voluntary carbon market launched in August 2024 as a tool to support emissions reductions and help attract concessional climate finance. Looking ahead, it plans to issue rules for digital platforms offering access to real estate investment funds, starting with the regulatory framework for real estate investment funds, and noted ongoing work towards a unified insurance law.

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