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FRA Requires Instant Credit Reporting for Consumer and SME Financing Companies

The Financial Regulatory Authority (FRA), chaired by Dr. Islam Azzam, has issued two decisions requiring companies and entities operating in consumer finance and micro, small, and medium-sized enterprise (MSME) financing to establish real-time connectivity with the Egyptian Credit Bureau (I-Score).

The measures are designed to strengthen oversight of financing activities, ensure closer monitoring throughout the lending process, and improve the speed and accuracy of creditworthiness assessments for customers.

Under the first decision, licensed consumer finance companies must report credit-related developments to I-Score in real time. This includes notifying the credit bureau when financing is approved, disbursed, partially or fully repaid, or terminated. Companies are also required to report when legal or judicial proceedings are initiated in connection with a financing facility, as well as any subsequent change in the status of