Egypt’s FRA Sandbox signs series of MoUs to drive fintech innovation
Egypt’s Financial Regulatory Authority (FRA) signed Wednesday a series of memoranda of understanding with innovation hubs, investors, and tech providers through its newly launched fintech sandbox (FRA Sandbox) to accelerate digital transformation in the non-banking financial sector.
Officially unveiled during the FRA Fintech Forum 2025 in Cairo, the FRA Sandbox is designed to provide a controlled environment for fintech firms and startups to test innovative financial products, business models, and technologies under regulatory supervision.
Innovation Acceleration
The FRA Sandbox signed MoUs with innovation and accelerator platforms including AUC Venture Lab, Techne, Mercatura Forum, Tech Fin, and Plug & Play Egypt, aiming to support the development and testing of digital financial solutions.
Stronger Tech Infrastructure System
In the area of infrastructure, the FRA Sandbox partnered with E-Finance, a leading digital services and payments company, to enable secure data exchange and system integration. It also partnered with insurance entities such as GIG Insurance and the Insurance Federation of Egypt.
Investment Partners
In area of investment, the FRA Sandbox signed MoUs with advisory entities, including the Egyptian Institute of Accountants and Auditors (EIAA) and the office of Dr. Khaled Abdelaziz Hegazy, to offer support in areas such as compliance, taxation, and financial consulting.
“The signing of the MoUs marks a practical step toward creating stronger public-private partnerships and accelerating Egypt’s financial digitisation,” FRA Chairman Mohamed Farid, who witnessed the signing, said. “We are committed to enabling innovation while safeguarding market stability and investor rights.”
The FRA said the sandbox is open to licensed non-banking financial services firms and technology providers registered with the authority, and is part of a broader effort to boost financial inclusion, attract investment, and improve access to financial services across all segments of society.
Attribution: Amwal Al Ghad English
Subediting: Y.Yasser