FRA Sandbox Advisory Committee

Great innovation ecosystems are built through collaboration, expertise, and shared vision.

As FRA Sandbox approaches its first anniversary, we are pleased to announce the establishment of the FRA Sandbox Advisory Committee, a strategic platform bringing together leaders from regulation, financial services, technology, entrepreneurship, cybersecurity, and digital policy to help shape the future of innovation in Egypt’s nonbank financial sector.
The inaugural meeting was chaired by Dr. Islam Abdel Azim Azzam , Executive Chairman Financial Regulatory Authority FRA, with Eng. Ahmed Khalifa Executive Director of FRA Sandbox, serving as Vice Chair.
The Committee includes an exceptional group of industry and ecosystem leaders, listed alphabetically:
• Mr. Alaa Elzoheiry – Chairman of Insurers Federation of Egypt & Managing Director- GIG Egypt
• Prof. Ayman Ismail – Abdul Latif Jameel Chair of Entrepreneurship at AUC & Founding Director AUC Venture Lab
• Mr. Ibrahim Sarhan – Chairman & Managing Director eFinance Investment Group
• Ms. KARIMA👼🏽 El Hakim – Partner Africa, Plug and Play
• Dr. Mohamed Hegazy – Senior Legal, Policy and Regulatory Advisor
• Mr. Sherif Shaltout – Regional Manager Liquid C2 MENA

Dr. Islam Azzam emphasized that the establishment of the Advisory Committee reflects the FRA’s commitment to leveraging local and international expertise to advance financial innovation and develop FRA Sandbox in line with global best practices, further strengthening Egypt’s position as a regional Fintech hub. He added that FRA Sandbox provides a secure and flexible environment for testing innovative digital solutions while ensuring consumer protection, and market stability.

Eng. Ahmed Khalifa noted that, in less than one year, FRA Sandbox has initially approved 5 innovative projects for testing, signed 13 MoU's with ecosystem partners, and provided regulatory guidance and support to 37 entities.

This Committee will play an important role in supporting FRA Sandbox’s strategic direction by providing insights on emerging technologies, regulatory developments, ecosystem partnerships, international collaboration, and capacity building across the fintech landscape.
During the meeting, members discussed priorities for the next phase of FRA Sandbox, including expanding support for innovative solutions, strengthening engagement with local and international stakeholders, exploring opportunities related to emerging technologies, and enhancing the measurement of innovation’s economic and social impact.
We extend our sincere appreciation to the Advisory Committee members for their commitment and looking forward to working together to foster responsible innovation, strengthen Egypt’s fintech ecosystem, and contribute to the sustainable development of non-banking financial services.

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