Cairo: Prime Minister Moustafa Madbouly highlighted on Thursday, September 3, 2026, key contributions of the non-banking financial sector to the national economy, especially in light of the soaring number of the sector's beneficiaries.

According to State Information Service Egypt, during a meeting with Financial Regulatory Authority (FRA) Chairman Islam Azzam, the Prime Minister focused on reviewing developments in the non-banking financial sector and its activities supervised by the authority, including the capital market, insurance, and non-banking finance. The Prime Minister underscored the crucial role of the Financial Regulatory Authority (FRA) in ensuring market stability and protecting the rights of market participants.

The meeting addressed efforts to regulate the sector's activities, improve their efficiency, address various challenges, and respond to ongoing developments. FRA Chairman Islam Azzam reviewed updates on the regulatory frameworks governing the sector, including recent decisions issued by the FRA board of directors and its chairman aimed at developing activities, keeping pace with technological evolutions, and improving service quality to meet people's needs.

The measures aim to strengthen regulatory performance and improve the ability of the FRA and companies operating in the sector to detect shortcomings and violations early, helping resolve customer problems faster and prevent the spread of negative practices. The meeting covered mechanisms the FRA has adopted to combat violations and negative practices.

Azzam stressed that the authority would show no leniency toward violations of the regulatory rules governing the dealings of all entities licensed to conduct non-banking financial activities with the public. He highlighted efforts meant to raise public awareness of their rights under the laws regulating these activities, topped by the right to refer complaints to the FRA for examination and investigation and to seek the restoration of their rights.

Azzam further pointed to a number of recently issued regulatory decisions aimed at maintaining continuous links between market participants and the authority and tackling cases of identity impersonation or the submission of incorrect personal data. 'The measures are intended to protect the rights of individuals acting in good faith and prevent any adverse impact on their creditworthiness,' the FRA Head went on to say.