Regulatory Alerts2017-01-01
Decision of the Board of Directors of the Authority No. (47) of 2017
The Financial Regulatory Authority’s Board of Directors issued Decision No. 47 of 2017 to establish the mandatory conditions and procedures for registering public legal entities in the Real Estate Financing Practitioners Register. The regulation requires applicants to demonstrate permissible corporate purposes, appoint a responsible manager with at least ten years of credit experience, maintain a competent operational team, and submit quarterly financial disclosures or equivalent statements. Furthermore, it outlines the specific licensing documentation needed, mandates strict adherence to Real Estate Financing Law No. 148 of 2001, and conditions continued registration on ongoing regulatory compliance and timely data submission.
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