Arab Finance: The Financial Regulatory Authority (FRA) and Egypt Post signed a cooperation protocol to use the Bareedi registered email service for official notifications and correspondence between the authority and entities under its supervision, according to a statement.

Signed by FRA Acting Chairman Islam Azzam and Egypt Post Executive Chairwoman Dalia Elbaz in the presence of executives from both authorities, the protocol intends to accelerate procedures, improve regulatory communication, and provide a secure digital channel for sending and receiving correspondence.

Azzam said using registered email would modernize official communication between the FRA and regulated companies while reducing the time, effort, and costs associated with notifications and announcements. The system is also expected to reduce reliance on paper documents and support the development of administrative, regulatory, and governance procedures.

The FRA will introduce the regulatory frameworks required to enable the system’s use across non-banking financial activities. Notifications issued through the service will carry the same legal effect as registered mail and registered mail with acknowledgment of receipt, while providing verifiable records of their source and sending and delivery dates.

For her part, Elbaz said the protocol supports the state’s digital transformation plans by providing an official and secure channel for electronic correspondence. She added that it would accelerate regulatory and government procedures, reduce operating costs and paper use, and lower resource and energy consumption in support of environmental sustainability.

Bareedi will be used to send and receive regulatory notifications and decisions, violations, claims, reports, disclosures, invitations, and other documents carrying legal or regulatory implications.

The protocol also provides for a registered electronic mailbox for the FRA to receive reports, disclosures, correspondence, and other documents. The authority will use the service to deliver its decisions, notifications, and correspondence to relevant parties.

Bareedi serves as a digital alternative to registered mail and registered mail with acknowledgment of receipt. The service verifies the identities of senders and recipients, records the dates and times of dispatch and delivery, and protects messages and attachments against loss, tampering, and unauthorized changes. It also generates documented digital evidence of sending and delivery transactions.

Elbaz said the cooperation would support the development of an integrated digital system for regulatory correspondence, shorten processing times, and improve communication between the FRA and regulated entities as they gradually shift from paper documents to authenticated electronic correspondence.

Under the protocol, the FRA will inform regulated entities that Bareedi is available for official communications with legal and regulatory implications. The two authorities will also hold workshops and introductory meetings explaining how to use the service, support its technical and operational integration, and facilitate its gradual expansion.

The initiative forms part of the FRA’s broader digital transformation program for the non-banking financial sector. Other projects include expanding electronic links with regulated entities, developing data collection and analysis mechanisms, and using artificial intelligence applications to monitor performance indicators, financial services, and products.

The authority views digital transformation as a central part of expanding access to non-banking financial services, increasing service efficiency, strengthening supervision, protecting customers’ rights, and improving the sector’s competitiveness and investment appeal.