Regulatory Alerts2023-01-01
Board of Directors Resolution No. (91) for the Year 2023
The Financial Regulatory Authority issued Board of Directors Resolution No. 91 of 2023 to amend the capital requirements for licensed financial leasing and factoring companies, raising the minimum issued and paid-up capital to 75 million Egyptian pounds (or equivalent in foreign currency). The Resolution mandates that affected companies align their financial status with these new provisions within one year of its effective date, with a possible two-year extension granted upon valid justification. It takes effect the day after publication in the Egyptian Gazette and on the Authority's official website, following approval by the Board of Directors on April 12, 2023.
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