Regulatory Alerts2021-01-01
Financial Regulatory Authority Board of Directors Resolution No. (154) for 2021
The Financial Regulatory Authority issued Resolution No. 154 of 2021 to amend Resolution No. 166 of 2020 by formally adding the Egypt Sovereign Fund for Investment and Development and its Sub-Fund for Financial Services and Digital Transformation to the official list of financial institutions. This amendment clarifies their regulatory status, ensuring both entities fall under the FRA's supervisory framework for non-banking financial markets and instruments. The resolution takes effect the day following its publication in the Egyptian Gazette and on the Authority's electronic website.
Financial Regulatory Authority FINANCIAL REGULATORY AUTHORITY
Chairman of the Authority Resolution of the Authority's Board of Directors No. (154) for 2021 dated 29/09/2021 Amending Resolution of the Authority's Board of Directors No. (166) for 2020 Regarding the Determination of the Meaning of the Term "Financial Institutions" Stated in the Authority's Board of Directors Resolutions
The Board of Directors of the Financial Regulatory Authority
Having reviewed Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments; and Law No. (177) of 2018 establishing the Egypt Sovereign Fund for Investment and Development; and Resolution No. (166) of 2020 of the Authority's Board of Directors regarding the determination of the meaning of the term "Financial Institutions" stated in the Authority's Board of Directors resolutions; and Resolution No. (6) of 2021 of the Board of Directors of the Egypt Sovereign Fund for Investment and Development regarding the issuance of a registration certificate for the Egypt Sub-Fund for Financial Services and Digital Transformation; and after the approval of the Authority's Board of Directors in its meeting held on 29/09/2021;
Resolved: (Article One)
Two new items numbered (20, 21) are added to the list of financial institutions stated in Article One of the aforementioned Resolution No. (166) of 2020 issued by the Authority's Board of Directors, with the following text:
20- Egypt Sovereign Fund for Investment and Development. 21- Egypt Sub-Fund for Financial Services and Digital Transformation.
(Article Two)
This Resolution shall be published in the Egyptian Gazette and on the Authority's electronic website, and shall take effect from the day following its publication in the Egyptian Gazette.
Chairman of the Board of Directors of the Authority Dr. Mohamed Omran
[Seal of the Financial Regulatory Authority]
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