The Egypt Financial Regulatory Authority (FRA) granted Lumin Soft preliminary approval to join its fintech regulatory sandbox, making it the third company to receive this approval since the sandbox was launched. The project aims to enable an end-to-end digital pathway to verify the identity of non-Egyptians using electronic passports read via near-field communication (NFC) on mobile devices, to facilitate their access to non-bank financial services in Egypt. Lumin Soft develops digital identity, electronic verification and digital contracting solutions. The proposed model relies on reading and validating electronic passport data in line with the International Civil Aviation Organization’s Public Key Directory (PKD) standards, and the live testing is set to include integration with Azimut Investments Egypt’s platform to enable investment activity within a supervised environment. Sandbox participation allows Lumin Soft to run live tests of its business model under FRA oversight before any broader market deployment.
Egypt Financial Regulatory Authority 2026-03-14
Egypt Financial Regulatory Authority grants Lumin Soft preliminary entry to the FRA Sandbox for NFC-based e-passport identity verification of non-Egyptians
The Egypt Financial Regulatory Authority granted Lumin Soft preliminary approval to join its fintech regulatory sandbox, marking it as the third company to do so. The initiative aims to create a digital pathway for verifying non-Egyptians' identities using NFC-enabled electronic passports, facilitating access to non-bank financial services. Lumin Soft will conduct live tests of its model, integrating with Azimut Investments Egypt's platform under FRA oversight.