Egypt to licence Robo-Advisors – FRA
Egypt’s Financial Regulatory Authority (FRA), headed by Dr. Mohamed Farid, will issue a licence for the use of Robo-Advisor mechanisms in portfolio and investment management. This development was announced at the annual CFA Society Egypt conference, the Egyptian Cabinet stated on Monday.
This financial product aids in financial consolidation and risk-hedging against capital market fluctuations.
Dr. Farid described Robo-Advisor as a digital system that acts as an automated financial advisor, as it assists investors in selecting suitable investments based on their risk tolerance.
It recommends the most fitting stocks for investment, and if the investor is risk-averse, it suggests zero-risk financial instruments like Treasury bills and bonds.
The system automatically monitors the market and identifies timely investment opportunities based on this surveillance.
