Egypt’s Financial Regulatory Authority (FRA) has launched the country’s first official register for technology-based risk assessment firms operating within the non-banking financial sector, marking a significant step in modernising financial supervision and promoting innovation.
The new register is designed to regulate and recognise companies that provide digital and data-driven risk assessment solutions to non-banking financial institutions, including firms operating in insurance, capital markets, leasing, factoring, consumer finance and fintech-enabled lending. According to the FRA, the move aims to strengthen market discipline, improve transparency and enhance the quality of risk evaluation across Egypt’s fast-growing non-banking financial ecosystem.
By formally onboarding technology-driven risk assessment providers, the regulator seeks to ensure that advanced tools such as artificial intelligence, data analytics and automated scoring models are used responsibly and in line with regulatory standards. Registered firms will be required to meet defined governance, data protection, model validation and operational resilience criteria, ensuring that innovation does not come at the cost of financial stability or consumer protection.
The FRA noted that the initiative supports Egypt’s broader digital transformation agenda and aligns with global regulatory trends, where supervisors are increasingly recognising the role of RegTech and SupTech solutions in strengthening risk oversight. The register is also expected to encourage investment in local financial technology capabilities while giving regulated entities greater confidence in adopting external technology partners.
Market participants view the development as a positive signal for fintech growth in Egypt’s non-banking finance sector. By creating a structured regulatory framework for technology-based risk assessment firms, the FRA is enabling innovation while maintaining clear accountability and oversight.
The regulator indicated that additional guidance and technical standards may be issued in phases, as the register evolves in response to market adoption and emerging risk management practices.
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