Regulatory Alerts2016-01-01
Decision No. (19) of 2016 of the Authority's Board of Directors Regarding the Social or Charitable Purposes for Distributing Profits and Returns from the Charitable Investment Fund
The General Authority for Financial Supervision issued Decision No. (19) of 2016 to strictly define the permissible social and charitable purposes for distributing profits and returns generated by the Charitable Investment Fund until its termination. The regulation mandates that distributions must exclusively target education, training, social care, healthcare, slum development, or other society-serving initiatives approved by the Authority, and requires all disbursements to be channeled through government entities or NGOs licensed by the Ministry of Social Solidarity. This decision establishes a closed list of eligible sectors and enforces strict compliance through mandatory publication in the Egyptian Gazette and on the Authority's official website.