Regulatory Alerts2023-01-01
Financial Regulatory Authority Board Resolution No. 92 of 2023 Amending Resolution No. 121 of 2018 on Licensing Conditions, Rules, and Procedures for Microfinance Companies
The Egyptian Financial Regulatory Authority issued Board Resolution No. 92 of 2023 to amend the capital requirements and compliance timelines for licensed microfinance companies. The Resolution establishes a minimum issued and paid-up capital of 75 million Egyptian pounds (or foreign currency equivalent) and requires existing licensed entities to align their operations within one year, with a possible two-year extension for justified cases. It takes effect the day after publication in Al-Waqaya Al-Masriya and on the Authority's official website.
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