Arab Faience: Islam Azzam, Chairman of the Financial Regulatory Authority (FRA), emphasized full commitment to launching a comprehensive and advanced electronic system linking the authority with all non-banking financial sectors under its supervision, according to a statement.
This system will include all companies operating in various activities, seeking to provide timely access to reliable and up-to-date information and regulatory decisions.
It will also enable the FRA and market participants to conduct advanced data analysis using AI-backed tools and provide a Chatbot mechanism to respond to institutional inquiries and streamline licensing and registration procedures.
Azzam’s remarks came during an extensive meeting with officials from the Leasing and Factoring Federation representing more than 80 companies operating in these sectors.
Egypt’s financial leasing sector recorded a 21.7% year-on-year (YoY) increase in the number of contracts in 2025, while the total value of contracts rose 51% to around EGP 180 billion, Azzam noted.
Real estate-related leasing contracts, including property units and land, accounted for nearly 80% of total contract value.
Meanwhile, factoring activity indicators increased 57% annually in 2025. The number of clients rose nearly 30%, while the value of discounted receivables jumped 77.3% to exceed EGP 132 billion.
The chairman urged representatives to expedite the implementation of Basel III financial solvency standards, which guarantee best practices in the supervision and oversight of non-banking financial institutions.
Moreover, the model supports risk management mechanisms and ensures the highest levels of assurance regarding the soundness of financial positions.
The authority expressed its readiness to hold new workshops and awareness seminars on the Basel III model ahead of its mandatory application starting January 1st, 2027.
