Regulatory Alerts2019-01-01
Board Decision No. (171) of 2019
The General Authority for Financial Supervision issued Board Decision No. (171) of 2019 to amend licensing regulations for non-banking financial entities conducting investment fund activities. The decision permits banks, subject to Central Bank approval, alongside a broad range of licensed financial institutions—including insurance firms, investment banks, asset managers, microfinance companies, the national postal service, leasing, real estate financing, and factoring companies—to operate investment funds independently or in partnership. Additionally, it grants unit holders in licensed asset management and fund management companies the same governance powers as those assigned to investment fund general assemblies.
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