FinTech

Establishment of Technologist Syndicate in Egypt

April 16, 2024
Last February Law No. 13/2024 was issued deciding the establishment of an independent syndicate for technologists (the “Law”). The need to establish a syndicate for technologists (the “Syndicate”) grows to be inevit...

Egypt Introduces the Rules Governing Digital Banking Licensing

November 4, 2023
On 12 July 2023, the Central Bank of Egypt (“CBE”) issued a circular (the “Circular”) regulating the requirements for licensing and registering Digital Banks in Egypt. The rules determined under the Circular allow e...

RR NEWSLETTER ISSUE 29

May 4, 2023
Legal Updates1 Taxes Egypt’s VAT on Remote Digital Services Fintech Egypt – New Tokenization Regulations to allow contactless payments through smartphone Consumer Finance Companies to Provide Payment Services Using...

Egypt – New Tokenization Regulations to allow contactless payments through smart phone

May 4, 2023
The Central Bank of Egypt (“CBE”) issued new regulations on 8 March 2023 to introduce “Tokenization” services and allow contactless payments through smartphones (the “Regulations”). Tokenization is a process of subs...

Egypt – Consumer Finance Companies to Provide Payment Services Using Prepaid Cards

May 3, 2023
The Financial Regulatory Authority (“FRA”) issued Decree No. 61 for 2023 (“Decree”) to allow licensed consumer finance companies to provide payment services using prepaid cards on behalf of banks. The Decree authori...

Riad & Riad collaborates with Fintech Buddy Saudi Arabia to empower Egyptian and Saudi Fintechs

February 6, 2023
Riyadh, Saudi Arabia: Fintech Buddy Saudi Arabia, a one-stop shop platform that provides professional services for startups and foreign companies (sponsored by The Law Firm of Nasreen Alissa), signed a Memorandum of...

New FinTech Law in Non-Banking Financial Activities in Egypt

March 10, 2022
On 8 February 2022, Law No. 5 of 2022 Regulating the Development and Use of Financial Technology in the Non-Banking Financial Activities (the “FinTech Law” or the “Law”) was issued. The Law came into effect the next...

Egypt Allows SPAC Listing

November 20, 2021
With the accelerated rise of special purpose acquisition companies (SPACs) over the past years, the Financial Regulatory Authority (FRA) in Egypt has given its green light for the establishment and licensing of SPAC...

Legal Framework of Digital Banking in Egypt

November 14, 2021
What is a Digital Bank? A digital bank is a bank with technology-enabled business model which provide its services remotely with limited or no branch infrastructure. Alternative terms used by market participants are...

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