The Financial Regulatory Authority (FRA) has proposed amendments to the Capital Market Law’s executive regulations to the Cabinet, introducing rules for the launch of hedge funds, according to a statement by the authority.

This aims to diversify the current investment tools and ramp up the Egyptian market’s competitiveness and appeal.

The authority also plans to license Robo-Advisory to aid investors in managing investment as a digital financial advisor, FRA’s Chairman Mohamed Farid stated.

While artificial intelligence (AI) is part and parcel of FRA’s digitization strategy, certain regulations must be set prior to employing it, he added.

 

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