5 of 2022 regarding the regulation and development of the use of financial technology in non-banking financial activities. It aimed to regulate the use of financial technology in non-banking financial activities, followed by Resolution No. 141 of 2023, regarding the outsourcing registry in the areas of financial technology to practice non-banking financial activities. Farid stressed that financial technology and digitization of non-banking financial transactions enhance the capabilities of the non-banking financial sector. He added that financial technology is a major driver and incentive to facilitate access to and obtain non-banking financial services for all different segments of society.

Source: Daily News Egypt November 19, 2024 08:40 UTC