Regulatory Alerts2015-01-01
Decision No. 118 of 2015 of the Capital Market Authority Board of Directors Amending Decision No. 31 of 2015 Regarding Rules and Standards for Microfinance Activities of Associations and Civil Society Organizations
The Capital Market Authority of Egypt issued Decision No. 118 of 2015 to amend the personnel qualification requirements for managers of Category (C) microfinance activities operated by associations and civil society organizations with financial portfolios under 10 million Egyptian pounds. The revised standards mandate that these managers hold at least a secondary education degree, possess comprehensive knowledge of microfinance operational mechanisms and risk management, and demonstrate the ability to supervise staff teams. This regulatory adjustment updates the implementation guidelines of Decision No. 31 of 2015 to ensure appropriate managerial competency within the sector.
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