Regulatory Alerts2020-01-01
Board of Directors Decision No. (93) of 2020
The Financial Regulatory Authority (FRA) of Egypt issued Board Decision No. 93 of 2020 to amend the executive corporate governance rules for licensed leasing and factoring companies. The decision mandates that these companies establish independent audit and risk committees, specifying minimum membership requirements, independence thresholds, and expertise qualifications for both committees. Licensed entities must fully align their internal structures with these revised governance standards by December 31, 2020, with the decision taking effect immediately upon publication in the Egyptian Gazette.
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