{"id":598550,"date":"2019-05-28T03:57:05","date_gmt":"2019-05-28T03:57:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/fra-issues-non-banking-financial-service-e-payment-regs\/"},"modified":"2019-05-28T03:57:05","modified_gmt":"2019-05-28T03:57:05","slug":"fra-issues-non-banking-financial-service-e-payment-regs","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/fra-issues-non-banking-financial-service-e-payment-regs\/","title":{"rendered":"FRA issues non-banking financial service e-payment regs"},"content":{"rendered":"

REGULATION WATCH- FRA issues e-payment regulations for non-banking financial services: <\/b>The Financial Regulatory Authority (FRA) has issued new regulations to ensure all non-banking financial service providers use non-cash methods when making or receiving payments exceeding the EGP 500 threshold specified by the recently-approved E-Payments Act, according to an FRA statement<\/a>. The FRA-regulated providers will have to ensure loan, salary, dividend, employee health insurance and syndicate membership fee, and other payments are made electronically. All over-the-limit payments received by the providers will also have to run through online gateways.<\/p>\n

Background: <\/b>The E-Payments Act, which the House approved last March<\/a>, makes it mandatory for government and private sector entities to make all payments to subsidiaries, suppliers, and contractors electronically. The law is part of the government\u2019s plan to gradually transition towards a cashless, paperless economy.<\/p>\n","protected":false},"excerpt":{"rendered":"

REGULATION WATCH- FRA issues e-payment regulations for non-banking financial services: The Financial Regulatory Authority (FRA) has issued new regulations to ensure all non-banking financial service providers use non-cash methods when making or receiving payments exceeding the EGP 500 threshold specified by the recently-approved E-Payments Act, according to an FRA statement. The FRA-regulated providers will have […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,76,183,343,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-598550","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-financial-regulatory-authority","tag-fintech","tag-regulation","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"82ed7bfc-135e-4740-ac3e-c7958d7bd699","is_powered_by":true,"section_story_id":"bc7f2660-0966-4f2e-bd52-d84eff677c7e","story_type":"1","photo_url":"","photo_position":"above","related_issue":[598535],"teaser":"","voice_url":""},"yoast_head":"\nFRA issues non-banking financial service e-payment regs - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/fra-issues-non-banking-financial-service-e-payment-regs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FRA issues non-banking financial service e-payment regs\" \/>\n<meta property=\"og:description\" content=\"REGULATION WATCH- FRA issues e-payment regulations for non-banking financial services: The Financial Regulatory Authority (FRA) has issued new regulations to ensure all non-banking financial service providers use non-cash methods when making or receiving payments exceeding the EGP 500 threshold specified by the recently-approved E-Payments Act, according to an FRA statement. The FRA-regulated providers will have […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/fra-issues-non-banking-financial-service-e-payment-regs\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-28T03:57:05+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/fra-issues-non-banking-financial-service-e-payment-regs\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/fra-issues-non-banking-financial-service-e-payment-regs\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"FRA issues non-banking financial service e-payment regs\",\"datePublished\":\"2019-05-28T03:57:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/fra-issues-non-banking-financial-service-e-payment-regs\/\"},\"wordCount\":140,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"Financial Regulatory Authority\",\"Fintech\",\"regulation\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/fra-issues-non-banking-financial-service-e-payment-regs\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/fra-issues-non-banking-financial-service-e-payment-regs\/\",\"name\":\"FRA issues non-banking financial service e-payment regs - 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The authority will outline in the coming two months\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600945,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/14\/cabinet-nods-to-law-granting-egypts-fra-operational-autonomy\/","url_meta":{"origin":598550,"position":1},"title":"Cabinet nods to law granting Egypt\u2019s FRA operational autonomy","author":"enterpriseam admin","date":"14 February 2019","format":false,"excerpt":"CABINET WATCH- Cabinet gives nod to autonomy for the Financial Regulatory Authority: The Madbouly Cabinet approved yesterday a draft act that would grant the Financial Regulatory Authority (FRA) technical, financial and administrative autonomy from the government, according to a statement. 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Under new rules, microfinance outfits must have a minimum issued\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":653828,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/the-fra-has-new-securitization-regulations\/","url_meta":{"origin":598550,"position":4},"title":"The FRA has new securitization regulations","author":"enterpriseam admin","date":"23 October 2024","format":false,"excerpt":"The FRA is working to create a more investment-friendly environment","rel":"","context":"In "FINANCIAL SERVICES"","block_context":{"text":"FINANCIAL SERVICES","link":"https:\/\/enterpriseam.com\/egypt\/category\/financial-services\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1019.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":604466,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/04\/fra-sets-framework-for-short-term-bonds-instruments\/","url_meta":{"origin":598550,"position":5},"title":"FRA sets framework for short-term bonds, instruments","author":"enterpriseam admin","date":"4 December 2018","format":false,"excerpt":"REGULATION WATCH- Aiming to create a market for corporate paper in Egypt, FRA sets framework for short-term bonds, debt instruments: The Financial Regulatory Authority (FRA) has defined the framework and regulations governing short-term debt instruments, including bonds, sukuks, and other securities with maturities of less than two years, FRA boss\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/232.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/598550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=598550"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/598550\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/598535"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=598550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=598550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=598550"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=598550"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=598550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}