The Financial Regulatory Authority (FRA) was established by Presidential Decree No. (192) of 2009, and by Law No. (10) of 2009. The Authority replaced the Egyptian Insurance Supervisory Authority (EISA), the Capital Market Authority (CMA), the Mortgage Finance Authority (MFA), and the General Authority for Investment in supervising and controlling financial leasing and factoring activities (GAFI).
The Authority is responsible for regulating and supervising non-banking financial markets and instruments, including capital markets, futures exchanges, insurance activities, real estate financing, financial leasing, factoring, and securitization, as well as financing small, medium, and micro enterprises and the movable collateral registry. The Financial Regulatory Authority replaced the Egyptian Insurance Supervisory Authority, the Capital Market Authority, and the Mortgage Finance Authority. The Authority works to ensure the safety and stability of non-banking financial markets, regulate and develop them, and balance the rights of those involved in them. It also provides the means and systems and issues rules that ensure market efficiency and the transparency of activities conducted within them.
