Egypt's FRA approves draft law regulating fintech in non-banking financial activities
Published 20 Sep,2020 via Daily News Egypt - The Financial Regulatory Authority’s (FRA) Board of Directors has approved a draft law regulating and developing the use of financial technology (fintech) in non-banking financial activities.
FRA Chairperson Mohamed Omran said that the approval will support the Egyptian state’s adoption of a policy providing a remote work environment based primarily on the safe exchange of information and supervision.
Omran added that the draft law aims to enhance the use of modern and innovative technology, and to facilitate the supervisory role of a censor over the subject entities.
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