Regulatory Alerts2015-01-01
Chairman of the Financial Regulatory Authority Decision No. 489 of 2015
The Egyptian Financial Regulatory Authority issued Decision No. 489 of 2015 to mandate specific financial statement preparation and presentation rules for non-profit associations and institutions licensed to conduct microfinance activities. The regulation requires these entities to maintain separate accounts for microfinance operations, establish opening balance sheets, and apply strict provisions for doubtful debts in compliance with Egyptian Accounting Standards. These requirements became effective for financial periods starting after June 30, 2015, and were published in the Official Gazette and on the Authority's website.
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