Egypt’s FRA launches first registry for risk assessment companies in non-bank financing

Egypt’s Financial Supervisory Authority (FRA) announced Monday the establishment of the first registry for companies providing technological systems to assess risks for non-bank financing under Board Decision No. 279 of 2025.

According to the FRA, non-bank financing firms must contract only registered companies and notify the FRA before engagement. Registered companies may also use their own pre-approved technological systems for client risk assessment.

To register, companies must have at least 10 million Egyptian pounds in capital, three years of experience (or 20 million Egyptian pounds equity/50 per cent ownership by an experienced tech firm), and submit audited financials, a digital business model, methodology, technical documentation, prior work experience, and the 25,000 Egyptian pounds application fee. Registration lasts three years, with renewal applications due three months before expiry, and companies must regularise their status within six months.

Registered firms must comply with FRA regulations, allow inspections, maintain confidentiality, avoid conflicts of interest, and submit quarterly reports. Violations may lead to warnings, suspension, deregistration, or permanent removal.

The move supports Egypt’s non-banking sector digital transformation, improving risk management, regulating technology use in credit analysis, and expanding access to non-bank financing.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser