Regulatory Alerts2018-01-01
FRA Board of Directors Decision No. (138) of 2018
The General Authority for Financial Supervision (FRA) issued Decision No. 138 of 2018 to establish mandatory accounting, auditing, and reporting standards for licensed financial leasing and factoring entities in Egypt. The regulation requires these entities to prepare financial statements in compliance with Egyptian Accounting Standards, maintain separate accounts for distinct business lines, and establish adequate provisions for doubtful debts subject to auditor verification. It further mandates strict submission deadlines for annual and quarterly financial reports, with consolidated statement requirements and full implementation effective from the 2019 financial year.
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