At the CERISE+SPTF Global Meeting 2026, Egypt Financial Regulatory Authority Chair Islam Azzam said the authority is preparing to apply Basel III standards to the nonbank finance sector from January 2027. The framework will broaden risk management beyond credit risk to include market and operational risks. Companies will receive training on the requirements, while some have already begun pilot implementation. The authority is also studying a central system for sharing fraud information across nonbank financial sectors, wider use of artificial intelligence and data analytics, and full electronic links with supervised companies to support daily and real-time oversight. Azzam signaled a possible review of responsible pricing rules for micro, small and medium enterprise finance to balance providers’ sustainability and capacity to expand lending with customer protection. Existing safeguards include a requirement for financing providers to use one-time passwords to confirm customers’ knowledge and approval of transactions before Nov. 11, 2026.
Egypt Financial Regulatory Authority prepares January 2027 Basel III rollout and studies central anti-fraud system
Egypt Financial Regulatory Authority Chair Islam Azzam said Basel III standards will apply to the nonbank finance sector from January 2027, covering credit, market and operational risks. The authority is also studying a central anti-fraud system, AI-enabled supervision and full electronic links with supervised companies. It may review responsible pricing rules to balance financing growth with customer protection.