eFinance Unveils a “Digital Leap” as FRA Prepares New Platforms for January
A forward-looking discussion on Egypt’s accelerating digital transformation—and the next phase of modernization in its financial and regulatory infrastructure—took center stage at a panel during the 29th edition of Cairo ICT.
The session brought together two of the country’s most influential figures in digital finance: Ibrahim Sarhan, Chairman of eFinance Group, and Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority (FRA).
eFinance: Four Years of a “True Digital Leap”
Sarhan said that eFinance has achieved a “genuine digital leap” over the past four years, driven by major expansions in technological infrastructure and the execution of government-led digital transformation projects.
These efforts, he explained, have positioned the group as a central pillar in Egypt’s national digital ecosystem.
He noted that the company—through broad collaboration with state institutions—has implemented an array of strategic initiatives designed to build a sustainable digital infrastructure capable of serving millions of citizens and multiple economic sectors.
Sarhan emphasized that this progress lays a solid foundation for Egypt’s next phase of digital development, underscoring the importance of public–private partnerships and continued institutional dialogue to deliver more efficient, higher-quality digital services.
Smarter Oversight: FRA to Launch New Digital Platforms in January
FRA Chairman Dr. Mohamed Farid unveiled a series of upcoming digital platforms set to launch starting January 2026, aimed at strengthening supervision and raising efficiency across Egypt’s non-banking financial sector.
At the core of this rollout is a centralized digital Profile Platform, built in collaboration with eFinance, that will allow every regulated entity to execute all payments electronically, connect with payment service providers, and enable FRA to exercise real-time supervision over transactions and performance.
Farid highlighted that the FRA’s digital strategy—implemented since 2023—rests on three foundational pillars:
• E-KYC (electronic customer identification)
• Electronic verification of identity and data
• Digitally authenticated contracts with judicial enforceability
These pillars, he explained, have helped reduce human error, cut reliance on manual processes, accelerate financing and insurance operations, and safeguard digital contracts by storing central copies within the FRA.
Looking ahead, Farid said the next stage will rely heavily on big data analytics and artificial intelligence to enhance proactive oversight and enable early intervention when abnormal market indicators appear.
Unifying and cleansing databases, he added, will be critical to transforming data into knowledge, and knowledge into economic value that strengthens regulatory efficiency.
New Platforms and Expanded Digital Services
Farid announced that the FRA has completed advanced coordination to link factoring companies with the national e-invoicing system, allowing verification of invoice authenticity before financing—an important step in combating fraud and speeding up corporate funding.
The Authority is also developing systems to connect insurance companies and healthcare management firms with hospitals, enabling faster claims processing, reduced fraud and a more transparent customer experience.
Farid also highlighted major progress in regulating fintech startups, crowdfunding platforms, and real estate investment funds, noting that the FRA has received more than 25 new applications to establish real estate funds under updated regulatory rules—reflecting strong market demand.
Despite this progress, he acknowledged ongoing challenges such as limited digital risk awareness among users and the need for better data infrastructure within companies.
Farid concluded: “We want markets that grow—but grow responsibly, protecting investors and citizens through rapid and effective oversight.”
Cairo ICT 2025: A Regional Technology Powerhouse
The 29th edition of Cairo ICT runs from 16 to 19 November, under the patronage of Minister of Communications and Information Technology Dr. Amr Talaat, at the Egypt International Exhibition Center.
The event brings together more than 500 exhibitors, top ministries and government agencies, and five major co-located events:
• PAFIX – Digital payments & financial inclusion (under the Central Bank of Egypt)
• AIDC – AI and data centers
• Connecta – Youth & digital entertainment
• Innovation Arena – Innovation & startups
• Cyber Zone – Cybersecurity (held across two locations for the first time)
Key participating entities include the Ministry of Communications and Information Technology, the Central Bank of Egypt, FRA, NTRA, ITIDA, Egypt Post, the Arab Organization for Industrialization, and the Future of Egypt Authority (Guest of Honor).
Cairo ICT 2025 is sponsored by Dell Technologies, eFinance Group, WB Engineers + Consultants, CIB, Huawei, Orange Egypt, EgyptAir, Egypt Trust, Mastercard, Midar, Fortinet, Salesforce, Benya Group, Khazna, the National Bank of Egypt, AAIB, Bank of Alexandria, Shaker Group, ICT Misr, IoT Misr, Network International, and Meinhardt.