The FSI is the FRA's training and education arm. It works to develop human resources across non-banking financial sectors, such as capital markets and insurance.
The FRA noted significant potential for Egyptian expatriates to benefit from the non-banking financial sector by integrating them into new investment instruments regulated by the authority, such as gold, silver and real estate investment funds, as well as digital investment platforms.
These remarks were made during a panel discussion on the conference's second day, titled "Connecting Egyptians Abroad to the Financial Technology Ecosystem in Egypt."
Egypt's non-banking financial sector plays a major role in supporting the national economy, with the FRA supervising and regulating activities such as insurance, capital markets, mortgage finance, financial leasing, and securitization.
The authority, in coordination with the Ministry of Foreign Affairs, International Cooperation and Egyptian Expatriates, is working to expand non-banking financial services and products for Egyptians living abroad, especially in the insurance sector.
Meanwhile, the FSI is focusing on increasing awareness among Egyptians abroad and improving their financial literacy.
This aims to increase transparency and integrate expatriates into the modern investment landscape, in line with the FRA's goal of diversifying its beneficiary base and enhancing Egypt's capital markets.
These are considered by the FRA to be "essential elements for the success of digital transformation and financial inclusion efforts," Seif said.
Financial inclusion in Egypt has been on the rise, with the proportion of Egyptians aged 15 or above holding active financial accounts reaching 77.6 percent by the end of 2025.
Financial literacy is one of the FRA's top priorities, which it promotes through training programmes. It teaches consumers how to understand digital financial products and services, distinguish between licensed and unlicensed entities, understand their rights and obligations when using financial services, and determine their investment priorities.
According to the FSI director, developing legislative and regulatory frameworks for financial technology in Egypt is another way to enable Egyptians abroad to access non-banking investment services and tools through licensed digital channels regulated by the authority.
As a result, FRA Chairman Islam Azzam recently approved a new insurance policy covering personal accidents and arbitrary dismissal for Egyptians abroad under the Unified Insurance Law of 2024.
As part of recent efforts to increase incentives for Egyptians abroad, the Ministry of Foreign Affairs launched the Update Your Customer Banking Data initiative during the conference. The initiative aims to facilitate banking services for expatriates through the National Bank of Egypt (NBE) and Banque Misr.
Other efforts include the FRA completing a regulatory framework to regulate and develop the use of financial technology (Fintech) in non-banking financial activities, in accordance with a law launched in 2022. The framework establishes rules for licensing and conducting financial activities using technology. It also regulates governance requirements, risk management, and customer data protection.
Egypt's fintech adoption has been on an upward trajectory in recent years, aligning with the country's broader digital transformation strategy, which plays an essential role in diversifying the economy.
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