Egypt’s FRA, Supreme Council for Media Regulation sign protocol on digital platforms
Egypt’s Financial Regulatory Authority (FRA) and the Supreme Council for Media Regulation signed a cooperation protocol. The agreement aims to strengthen oversight of electronic applications and digital platforms linked to non-banking financial markets.
Under the protocol, the council will notify the FRA and seek its prior technical opinion before licensing or allowing access to electronic applications and digital platforms that use names, logos, or trade names related to activities under the FRA’s supervision.
The FRA will assess whether an application or platform’s name or activities conflict with the rights of licensed names, trademarks, and entities under its supervision.
The authority will provide its technical opinion within 15 days of receiving notification and before the council makes its decision.
The protocol also provides for coordination and information exchange on the applications and platforms covered by the agreement to prevent users from being misled into believing they are affiliated with or licensed by the FRA or entities under its supervision.
The agreement aims to support the digital environment, protect licensed entities, and limit practices that could undermine users’ confidence in non-banking financial market activities and services.