FRA mandates OTP verification for consumer, MSME finance providers within two months
Financial Regulatory Authority (FRA) Chairperson Islam Azzam has issued a decision requiring companies and entities licensed to provide consumer finance and financing for medium, small, and micro enterprises to implement, within two months,
Egypt's Financial Regulatory Authority has given consumer and MSME finance providers two months to implement OTP verification under Board Decision No. 133 of 2026, tightening authentication requirements for digital lending transactions. The mandate raises near-term compliance costs for licensed non-bank financiers but could reduce fraud losses and strengthen consumer trust in Egypt's expanding MSME credit market.
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