Regulatory Alerts2021-01-01
Decision No. (1) of 2021 Amending Decision No. (58) of 2018 Regarding Licensing Rules, Regulations and Procedures for Banks and Certain Non-Banking Financial Companies to Conduct Investment Fund Activities Independently or Jointly
The Financial Regulatory Authority (FRA) Board of Directors issued Decision No. 1 of 2021 to amend its previous licensing framework by permitting banks and designated non-banking financial companies to conduct investment fund activities either independently or jointly with other entities. This regulatory update expands the operational scope of these financial institutions under Decision No. 58 of 2018, allowing them to manage and operate investment funds without requiring separate licensing structures. The amendment streamlines regulatory compliance while enabling these entities to leverage existing capital and expertise for broader market participation.
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