CAIRO, July 10 (MENA) - Prime Minister Mostafa Madbouli held talks with Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), to review the latest developments in the non-banking financial sector and its role in the economy.

During the meeting, Farid reviewed new regulations under the Insurance Law, including higher capital requirements for insurance firms, expanded coverage, and stricter investment rules aimed at strengthening the sector’s competitiveness.

Farid also stated that the FRA is organizing a fintech forum this month to discuss digital transformation and financing opportunities for fintech startups.

Additionally, he hailed recent success stories of firms raising significant funding after obtaining FRA licenses, showing the role of regulations in attracting investors.

Farid added that FRA is preparing to implement Basel III standards for non-banking financial firms, enhancing their capital adequacy and risk management in line with international best practices. (MENA)

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