The Central Bank of Egypt (CBE) believes in keeping up with rapid developments in financial technology and striving to achieve an optimal balance between ensuring financial stability and consumer protection while as well advancing beneficial innovation to serve the banking and financial sector in Egypt.
To this end, The Regulatory Sandbox will work as a live testing ground for Fintech’s which are developing new business models that are currently hindered by stringent authorization requirements and regulatory uncertainty.
The purpose of the Regulatory Sandbox is to pave the way for faster and easier access to new financial solutions and embed compliance within the FinTech ecosystem at an early stage. This will not only allow Fintech innovators to focus on their core offering, but also ensure that consumers and other players in the market are not adversely affected by the regulatory uncertainty of the disruptive FinTech activities.
