Egypt’s FRA launches first digital payments network for non-banking financial sector
Egypt’s Financial Regulatory Authority (FRA) on Monday launched the first ever digital payments network for the non-banking financial sector, providing a fully integrated platform for secure, streamlined electronic settlement of financial obligations and interaction with FRA services.
Developed in partnership with e-Finance, the platform aims to streamline interactions between entities operating in non-banking financial activities and the FRA’s supervisory and regulatory services. FRA said the move is expected to accelerate work cycles, reduce paper-based procedures, enhance institutional efficiency, and strengthen governance and transparency across the sector.
The system allows supervised entities to complete electronic registration, create accounts for authorised representatives, access FRA services, review financial claims, settle dues via approved banking methods, track transactions, and review completed records.
The FRA said the platform meets the highest cybersecurity and data protection standards, with multiple verification layers to ensure transaction integrity and data accuracy. Technical support is available through a unified hotline, 19659, in cooperation with e-Finance. The network will operate on a one-month pilot starting 1 January 2026.
Attribution: Amwal Al Ghad English
Subediting: Y.Yasser