Regulatory Alerts2019-01-01
Decision of the Financial Regulatory Authority Board No. 179 of 2019 Amending Decision No. 53 of 2018 on Licensing Conditions and Share Rules for Non-Banking Financial Companies
The Financial Regulatory Authority (FRA) issued Decision No. 179 of 2019 to amend Decision No. 53 of 2018 regarding licensing conditions and shareholding rules for non-banking financial companies. The amendment specifically removes the mandatory requirement that a company's articles of association must explicitly stipulate certain provisions under Article Four, Item Four of the original decision. This regulatory update is formally published in the Egyptian Gazette and on the official websites of the FRA and the Egyptian Exchange to ensure immediate legal effect.
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