Contracts & Agreements

In line with Egypt’s national digital transformation strategy and efforts to enhance regulatory and supervisory efficiency, the Financial Regulatory Authority (FRA), in strategic partnership with e-finance, announced the launch of the first fully integrated digital payment network for the non-banking financial sector. This unified electronic platform enables secure and efficient digital payment of fees and dues related to FRA services. The new payment network aims to streamline interactions between entities operating in non-banking financial activities and FRA services, accelerating workflows, reducing reliance on paper-based processes, improving institutional performance, and reinforcing principles of governance, transparency, and market discipline. Dr. Mohamed Farid, Chairman of the FRA, stated that the launch of this network reflects Egypt’s commitment to comprehensive digital transformation as a key driver of economic growth, market efficiency, and investment climate improvement. “This initiative aligns with the leadership’s vision to build a competitive economy powered by technology and innovation,” he said. Farid added that the network is a practical application of the Smart Regulation concept, enabling supervised entities to register electronically, access real-time financial obligations, and settle payments through secure digital channels. It also allows transaction tracking, reducing processing time and enhancing transparency and institutional compliance. He emphasized that data protection and transaction stability are top priorities, noting that the platform provides a trusted and secure environment that strengthens investor confidence and supports the efficiency of non-banking financial markets. Ibrahim Sarhan, Chairman & CEO of EFIG, described the partnership as a strategic milestone for the company, marking an organized and scalable entry into one of Egypt’s fastest-growing and most diverse sectors. “This launch is not just an operational solution; it lays the foundation for a comprehensive digital financial infrastructure that can evolve to deliver value-added services and foster deeper collaboration with FRA,” Sarhan explained. He highlighted that the initiative will enhance user experience, create sustainable growth opportunities, and maximize returns on eFinance’s investments in technology and national digital infrastructure, reinforcing its role as a strategic partner in Egypt’s digital transformation journey. The platform offers supervised entities electronic registration, account creation for authorized representatives, access to FRA services, real-time viewing of financial obligations, and secure payment through approved banking channels. Users can also monitor transactions and review financial records. Built on the highest cybersecurity and data protection standards, the system employs multi-layered verification mechanisms to ensure transaction integrity and data accuracy, delivering a safe and seamless user experience. FRA affirmed that this launch represents a significant leap in upgrading the technological backbone of regulatory services and reflects its commitment, in collaboration with eFinance, to adopting modern digital solutions that enhance market competitiveness and support Egypt’s vision for a fully integrated and sustainable digital economy.