Regulatory Alerts2015-01-01
Decision of the Board of Directors of the Egyptian Financial Supervisory Authority No. (97) of 2015
The Egyptian Financial Supervisory Authority issued Decision No. 97 of 2015 to amend its microfinance licensing regulations. The amendment adds a mandatory retention clause to Article 33, requiring licensed companies to keep client financing documents for one year following the termination of the business relationship. Additionally, the decision stipulates that documents related to any disputed or prohibited financing must be preserved until the dispute is fully resolved.
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