Cairo: The Financial Regulatory Authority (FRA), led by Islam Azzam, has introduced two new directives that mandate companies involved in consumer finance and financing for micro, small, and medium-sized enterprises (MSMEs) to establish real-time connectivity with the Egyptian Credit Bureau, known as I-Score. This initiative is aimed at enhancing the oversight of financial decisions and improving the efficiency of customer creditworthiness assessments.
According to State Information Service Egypt, FRA board decision no. 174 of 2026 stipulates that licensed consumer finance companies must promptly inform I-Score when financing is approved, disbursed, and when customers make either full or partial payments. Additionally, they are required to report when financing is terminated, or when any judicial or legal proceedings are initiated concerning the financing, as well as any changes in the customer's status related to such proceedings.
The directive also obligates consumer finance companies to submit data and information regarding customer financing to I-Score using a prescribed template within five days after the end of each month. Similarly, FRA board decision no. 175 of 2026 applies these requirements to licensed companies, associations, and civil institutions operating in MSME financing, ensuring real-time updates on financing approvals, disbursements, repayments, terminations, and any legal actions or changes in customer status.
Both decisions allow a three-month grace period for the involved entities to complete the necessary electronic integration with I-Score, starting from the publication date in the Official Gazette and on the FRA's website. Azzam emphasized that real-time connectivity would bolster the ability of financing companies to make accurate credit decisions, facilitate data monitoring, and improve operational efficiency, thereby supporting the development of non-bank financial activities.
He further highlighted that accurate and timely updates of credit data would aid in enhancing customer creditworthiness assessments, reviewing existing financing, monitoring customer financial positions, and fulfilling obligations, ultimately reducing credit risks and safeguarding the financial health of sector participants. The FRA chairman stated that these decisions are part of the authority's broader efforts to balance the development of regulated activities with protecting market participants' rights through digital tools and data integration across the non-bank financing ecosystem.