Regulatory Alerts2023-01-01
Financial Regulatory Authority Board Resolution No. 141 of 2023 on the Fintech Outsourcing Registry for Non-Banking Financial Activities
The Financial Regulatory Authority issued Board Resolution No. 141 of 2023 to establish a dedicated Outsourcing Registry for fintech service providers conducting non-banking financial activities. The resolution mandates that registered companies meet specific capital, governance, technological, and insurance requirements while paying a 25,000 Egyptian pound fee per field. It further outlines application procedures, renewal conditions, a one-month grace period for deregistration, and empowers the Board to issue warnings, temporary suspensions, or full deregistration for non-compliance.
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