Egypt’s Financial Regulatory Authority reported first-year results for its non-bank finance regulatory sandbox at a September 8 summit. The regulator said it had received 49 applications, granted initial approval to nine projects and advanced two to live testing.

FRA also said the sandbox provided regulatory guidance to 45 companies and signed cooperation memoranda with four organizations. The figures describe the regulator’s own programme reporting; the announcement did not disclose the value of financing or commercial revenues generated by the projects.