Regulatory Alerts2020-01-01
Board of Directors Decision No. 38 of 2020
The Egyptian Financial Regulatory Authority (FRA) issued Decision No. 38 of 2020 to amend its previous rulings on real estate financing and financial leasing and factoring activities. The decision empowers the FRA to impose regulatory measures against licensed companies that violate provisions set forth in the Central Bank, Banking and Financial Institutions Law, as confirmed by either the Authority or the Central Bank of Egypt. This amendment applies to both real estate financing firms under Decision No. 111 of 2015 and financial leasing and factoring companies under Decision No. 7 of 2019, and takes effect the day after its publication in the Egyptian Gazette.
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