Regulatory Alerts2021-01-01
Board of Trustees Decision No. (1) of 2021 Amending Decisions No. (1) of 2015 and No. (4) of 2020 Regarding Licensing Conditions for Associations and NGOs in Microfinance and SME Financing
The Financial Regulatory Authority's Board of Trustees issued Decision No. (1) of 2021 to amend licensing conditions for associations and NGOs operating in microfinance and small-to-medium enterprise financing. The amendment adds a sanctions compliance requirement to both Decision No. (1) of 2015 and Decision No. (4) of 2020, mandating that board members and executive directors responsible for financing activities must not appear on local or international sanctions lists. The decision takes effect the day after its publication in the Egyptian Official Gazette and on the Authority's official website.
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