Egypt’s FRA and eFinance Launch First Integrated Digital Payments Network for Non-Banking Financial Sector
The Financial Regulatory Authority (FRA), in strategic partnership with eFinance, has announced the launch of the first fully integrated digital payments network in the history of Egypt’s non-banking financial sector.
The new platform serves as a unified electronic system that enables the secure and efficient digital payment of all financial dues related to FRA services, marking a major step toward modernizing regulatory operations.
The digital payments network aims to streamline interactions between entities operating in non-banking financial activities and the FRA, helping to accelerate business cycles, reduce reliance on paper-based procedures, enhance institutional efficiency, and reinforce governance, transparency, and market discipline.
Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority, said the launch aligns with Egypt’s national strategy for comprehensive digital transformation, one of the key pillars supporting economic growth, improving market efficiency, and enhancing the investment climate, in line with the political leadership’s vision of building a technology- and innovation-driven competitive economy.
He added that the platform represents a practical application of the Smart Regulation concept, enabling regulated entities to register electronically, instantly review outstanding financial claims, pay them through secure digital payment methods, and track transaction histories—significantly reducing processing time and improving transparency.
Dr. Farid stressed that data protection and transaction stability are top priorities, noting that the platform provides a secure and reliable operating environment that boosts investor confidence and enhances the efficiency of non-banking financial markets.
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