EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced that EFG Holding, in collaboration with Vlens, has received initial approval from the Financial Regulatory Authority (FRA) to join the FRA Sandbox with its NFC ePassport Digital Identity Verification Platform for Foreign Nationals. The solution will be made available through EFG Hermes ONE, further advancing the platform’s digital capabilities and supporting a more seamless onboarding experience for foreign investors.

The solution leverages Near Field Communication (NFC) technology to securely verify foreign nationals through NFC-enabled electronic passports (ePassports), enabling remote digital identity verification while supporting regulatory compliance requirements. The capability will simplify the onboarding journey for non-Egyptian investors seeking access to investment services, reducing friction while maintaining a secure and efficient digital experience.

Eng. Ahmed Khalifa, Executive Director of FRA Sandbox and Chief Data Officer, emphasized that the company’s project represents a practical example of leveraging digital transformation to develop financial services, enabling non-Egyptians to access investment services across various asset classes within the Egyptian market, while enhancing the efficiency and competitiveness of the non-banking financial sector.

Dina Anwar, Co-Head of Digital Retail Trading Platform at EFG Hermes, said: “Receiving the FRA’s initial approval marks an important step in advancing digital access to Egypt’s capital markets. Through the integration of VLens’ ePassport verification solution into EFG Hermes ONE, we are leveraging technology to make onboarding more seamless and secure for foreign investors, reinforcing our commitment to simplifying the investment journey and expanding access to opportunities in Egypt.”

Mohamed Mamdouh, CEO of Vlens, said: “ePassport is the newest step in our journey, started back in 2023 with FRA Decree 140 under H.E. Dr. Mohamed Farid, Egypt’s Minister of Investment, enabling the private sector with no preferential treatment, and H.E. Dr. Islam Azzam, Executive Chairman of the Financial Regulatory Authority, builds on it today. VLens validated 4.3 million unique Egyptian identities and signed 550,000+ e-contracts sent to FRA's central repository. Starting with our partner EFG Hermes ONE, every customer is a true partner, opening our beloved Egypt to foreign investors.”

The collaboration also underscores EFG Holding’s commitment to supporting technology-driven innovation across its businesses and contributing to the continued digital transformation of Egypt’s financial services ecosystem. Through strategic partnerships and shared digital infrastructure, the Group continues to create solutions that enhance accessibility, efficiency, and customer experience across its platforms.

This development builds on EFG Hermes ONE’s broader efforts to combine technology, market expertise, and innovation to create more connected and accessible capital markets across MENA.

-ENDS-

About EFG Holding:
EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a financial institution that boasts a legacy of more than 40 years of success in five countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) - the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes.

EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a provider of innovative and integrated financial solutions for micro and small business owners and entrepreneurs, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance, and EFG Finance SMEs, which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt. 

Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain | 

Learn more about us at www.efgholding.com 

For further information, please contact:
May El Gammal
Group Chief Marketing & Communications Officer of EFG Holding
melgammal@efgholding.com 

Omar Salama
Head of Communications of EFG Holding
osalama@efgholding.com 

The EFG Holding Public Relations Team
PublicRelations@efgholding.com
 

Note on Forward-Looking Statements 
In this press release, EFG Holding may make forward-looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Holding’s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management’s control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.