The Egyptian Financial Regulatory Authority (FRA) announced the launch of Corbeh, their latest platform, in collaboration with the Egyptian Exchange (EGX) at RiseUp’s summit of the decade.
Corbeh is the first integrated technology innovation hub and sandbox for the nonbank financial sector. It’s aimed at tech-driven startups focused on innovative solutions that transform and boost the Egyptian capital market, providing them with a safe environment to test their new ideas, technologies, and business models.
At the summit, Dr. Mohamed Farid, Chairman of the FRA, stated that they’re working towards enhancing the role played by the nonbank financial sector in the Egyptian economy by introducing financial and insurance solutions that support business development and expansion. He expressed that the FRA is focused on the role of financial technology in the sustainable spread of nonbank financial products, making them easier to access.
Rami El-Dokany, Executive Chairman of EGX, also encouraged startups and entrepreneurs at the summit to invest in the Egyptian stock exchange and make use of the technological advantages offered by its trading platforms.
Interested startups can apply through Corbeh’s website.
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