Egypt: Egypt's Financial Regulatory Authority (FRA) has issued its first comprehensive guide to the rules and regulatory requirements for consumer finance companies, providing a unified reference for firms operating in the sector.According to State Information Service Egypt, the FRA stated that the guide aims to help both existing and new companies understand their regulatory obligations and ensure compliance with the rules governing the rapidly expanding consumer finance sector.The guide, which is based on Consumer Finance Law No. 18 of 2020 and subsequent FRA regulations, outlines various aspects such as company establishment and licensing, capital requirements, shareholder structures, governance, financial solvency, credit assessment, and customer protection. It mandates that companies must offer clear information about financing costs, fees, repayment schedules, and associated risks to customers. Additionally, companies are prohibited from obtaining blank signed documents or trust receipts from custom ers as collateral.The document also establishes guidelines for assessing customers' creditworthiness, monitoring repayments, and managing credit risks. It includes Basel III-related requirements that focus on capital adequacy, leverage, liquidity, provisions, and financial stress testing. Consumer finance companies are also required to meet cybersecurity and information technology standards, which include regular penetration testing.Furthermore, the guide mandates that companies provide insurance for customers up to the age of 65 against death and permanent total disability, with coverage equal to the outstanding financing balance. It also regulates debt collection companies, stipulating that customers must be informed about the collection firms used by their finance providers and how to verify the collectors' identities.FRA Chairman Islam Azzam highlighted that customer protection and market stability remain central to the authority's regulation of consumer finance. He emphasized that the FRA is commit ted to taking action against any violations that may harm customers or the non-banking financial sector.