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Financial Authority reviews Basel III and pricing rules
The article focused on the efforts of the General Authority for Financial Supervision in developing and regulating the non-banking finance sector. This includes the implementation of Basel III standards starting January 2027 to enhance risk management, covering market and operational risks. It also involves developing responsible financing rules by improving credit inquiries and cash flow analysis. The report emphasized the importance of protecting customers through one-time verification rules and expanding regulatory and technological measures, such as the use of artificial intelligence, data analysis, and establishing a centralized system for anti-fraud efforts. It highlighted that indicators of activity in microfinance, small, and medium-sized enterprises have shown significant increases, with their outstanding balances rising by 16% and 29.6%, respectively. The microfinance sector’s total funding reached approximately 74.4 billion Egyptian pounds, with women representing about 52.8% of the beneficiaries. The authority is also preparing to evaluate and develop customer protection tools and strengthen regulatory awareness to ensure sustainable growth and provide responsible financing that balances empowering companies with protecting rights.
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