Financial Regulatory Authority and eFinance Launch First Integrated Digital Payments Network for the Non-Banking Financial Sector
As part of Egypt’s national digital transformation strategy and ongoing efforts to enhance the efficiency of regulatory and supervisory services, the Financial Regulatory Authority (FRA), in strategic partnership with eFinance, announced the launch of the first fully integrated digital payments network in the history of the non-banking financial sector. The newly introduced platform serves as a unified electronic gateway that enables the secure and efficient digital settlement of all financial dues related to FRA services.
The digital payments network is designed to streamline interactions between entities operating in non-banking financial activities and the services provided by the FRA. It aims to accelerate operational cycles, significantly reduce reliance on paper-based procedures, enhance institutional efficiency, and reinforce principles of governance, transparency, and market discipline.
Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority, stated that the launch of the digital payments network comes within the framework of implementing Egypt’s comprehensive digital transformation agenda, which represents a key pillar for supporting economic growth, improving market efficiency, and enhancing the investment climate. He noted that the initiative aligns with the leadership’s vision to build a competitive, technology-driven economy based on innovation.
He added that the platform represents a practical application of the Smart Regulation concept, enabling entities under the FRA’s supervision to complete electronic registration, instantly access due financial claims, settle payments through secure electronic channels, and track transaction histories. This integrated approach contributes to reducing transaction processing time while raising levels of transparency and institutional compliance.
Dr. Farid emphasized that data protection and transaction stability remain top priorities, explaining that the network provides a secure and reliable operating environment that strengthens investor confidence and enhances the overall efficiency of non-banking financial markets.
For his part, Ibrahim Sarhan, Chairman of eFinance, affirmed that the partnership marks a strategic milestone in the company’s growth trajectory and represents a structured, scalable entry into the non-banking financial sector, one of the fastest-growing and most diverse segments of the Egyptian economy.
Sarhan explained that the digital payments network is not merely an operational solution, but rather the foundation of an integrated digital financial infrastructure. This infrastructure can be further developed to deliver value-added services and open broader horizons for cooperation with the FRA in rolling out more advanced and interconnected digital services that serve regulated entities and market participants. He noted that the initiative enhances transaction efficiency, improves user experience, creates sustainable growth opportunities, and maximizes returns on eFinance’s investments in national digital infrastructure, while reinforcing the company’s role as a strategic partner to the state in advancing digital transformation and developing financial markets.
The platform enables entities under the FRA’s supervision to register electronically, create authorized user accounts, access a wide range of regulatory services, review outstanding financial obligations, and complete payments digitally through approved banking payment methods. It also allows users to monitor financial operations and review detailed transaction records.
Built in accordance with the highest cybersecurity and data protection standards, the platform incorporates multi-layer verification mechanisms to ensure transaction integrity and data accuracy, delivering a secure and seamless user experience for all stakeholders.
The Financial Regulatory Authority underscored that the launch of the digital payments network represents a qualitative leap in the development of the technological infrastructure supporting regulatory services. It reflects the FRA’s commitment, in cooperation with eFinance, to adopting advanced digital solutions that enhance the competitiveness of non-banking financial markets and support Egypt’s vision of building a fully integrated and sustainable digital economy.