Egypt's Financial Regulatory Authority (FRA) has announced a series of hackathon competitions and upcoming regulatory reforms as part of its broader strategy to strengthen non-banking financial services (NBFS) and attract fintech investment. Speaking during the FRA Fintech Forum 2025, FRA Chairman Mohamed Farid launched the hackathon programme in partnership with the Mercatura Forum, covering national, continental, and global rounds between August and October, with total prizes of $300,000. Additionally, an insurtech-specific hackathon will kick off on 1 September in collaboration with AUC Venture Lab. The Chairman of the Financial Regulatory Authority highlighted that the future plans are bold ambitions aimed at achieving exceptional results that add value to the national economy. These include issuing regulatory frameworks for digital platforms that invest in real estate investment fund certificates, to be followed by equities and fixed-income instruments. The plans also involve simplifying procedures for participating in venture capital companies and funds through a phased approach, as well as streamlining the process for disposing of unpaid certificates. In addition, the FRA seeks to open the door to all legal forms of investment funds, which will require legislative amendments to be developed in the coming period Farid noted that these initiatives are designed to position Egypt as a regional leader in NBFS innovation and to open up new channels of financing for businesses and consumers. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
