Baku:The Financial Regulatory Authority (FRA) of Egypt is focusing on enhancing cooperation with Arab and African countries by exchanging expertise and knowledge, according to FRA Chairman Islam Azzam. This was highlighted during a meeting with Mahmoud Montasser Mansour, Executive Director-General and founder of Tunisia's Microfinance Control Authority, and his delegation. The discussions centered on improving regulatory and supervisory expertise in non-banking finance.

According to State Information Service Egypt, the Tunisian delegation's visit aimed to gain insights into Egypt's legislative and regulatory frameworks for medium, small, and micro enterprises. The meeting coincided with recent regulatory developments in both countries.

Azzam emphasized the importance of non-banking finance for enterprises, noting its role in supporting financial inclusion under Egypt Vision 2030. He mentioned that outstanding financing balances for these enterprises in Egypt surpassed 101 billion Egyptian pounds in the second quarter, benefiting around 3.5 million people. The FRA is focusing on enhancing the financing experience for beneficiaries, particularly microenterprise owners, by ensuring transparent information and encouraging innovative financial products.

Recent regulatory decisions in Egypt aim to tighten oversight of debt collection, strengthen customer identity verification, and encourage the development of new financial products using technology. These efforts are part of broader measures to expand financing access, especially in underserved areas.

Mansour reviewed the development of Tunisia's microfinance sector since its regulation in 1999, highlighting significant restructuring in 2011 and ongoing regulatory oversight. Last year, the sector extended financing worth around 2.7 billion Tunisian dinars through over 524,000 transactions. The meeting also explored digital transformation, financial technology, and modern risk management approaches to improve regulatory efficiency in both countries.