These approvals come as part of the FRA’s broader strategy to accelerate the adoption of technology-driven solutions across non-banking financial activities, including capital markets, insurance, and non-bank financing, with a strong focus on fostering innovation and supporting startups.
Egypt’s Financial Regulatory Authority (FRA) has granted approvals to six companies to conduct a range of activities using financial technology, in a move aimed at enhancing service efficiency and expanding access to financial solutions.
These approvals come as part of the FRA’s broader strategy to accelerate the adoption of technology-driven solutions across non-banking financial activities, including capital markets, insurance, and non-bank financing, with a strong focus on fostering innovation and supporting startups.
Among the decisions, the FRA approved the establishment of “Valu for SME Financing” as a fintech startup, reinforcing the shift toward digital financing solutions targeting the small and medium-sized enterprises (SME) sector.
The authority also licensed “CFH” and “Beltone Securities Holding” to operate custody services using fintech tools, through “Valens,” a company specialized in electronic verification services. This step is expected to improve custody efficiency and reduce reliance on traditional processes.
In the same context, “Cairo Capital Securities” and “Al Ahly Pharos Securities Brokerage” received approval to conduct trading activities using fintech, leveraging Valens’ digital verification systems. This is set to enhance the speed and accuracy of transactions in the stock market, in line with global technological advancements.
Additionally, the FRA granted preliminary approval for “Orient Insurance” to join its regulatory sandbox (FRA Sandbox) with a project focused on using technology for remote inspection and damage assessment in motor insurance, reflecting a growing trend toward digital transformation and improved customer experience in the insurance sector.
