Regulatory Alerts2018-01-01
Financial Regulatory Authority Board of Directors Resolution No. (132) of 2018 Regarding the Amendment of the Provisions of the Authority's Board of Directors Resolution No. (171) of 2014
The Financial Regulatory Authority (FRA) of Egypt issued Resolution No. 132 of 2018 to amend its previous Resolution No. 171 of 2014 concerning service fees for microfinance entities. The amendment specifically mandates the removal of the term "interim" from Items 1 of Articles 1 and 2 of the referenced 2014 resolution, effectively finalizing the applicable fee structure. Approved by the FRA Board of Directors on July 30, 2018, the resolution takes effect the day after its publication in the Egyptian Gazette and on the Authority's official website.
General Authority for Financial Supervision
FINANCIAL REGULATORY AUTHORITY
Chairman of the Authority
Resolution of the Board of Directors of the General Authority for Financial Supervision
No. (132) of 2018 dated 30/7/2018
Regarding the Amendment of the Provisions of the Authority's Board of Directors Resolution No. (171) of 2014
Board of Directors of the General Authority for Financial Supervision
Having reviewed the Law on Joint Stock Companies, Companies Limited by Shares, and Limited Liability Companies issued by Law No. 159 of 1981 and its Executive Regulation,
and the Capital Market Law issued by Law No. (95) of 1992 and its Executive Regulation,
and the Law Regulating Supervision on Non-Banking Financial Markets and Instruments issued by Law No. (10) of 2009,
and Law No. (141) of 2014 Regulating the Microfinance Activity,
and Presidential Decree No. (192) of 2009 Issuing the Basic Statute of the General Authority for Financial Supervision,
and General Authority Board of Directors Resolution No. (158) of 2014 Regarding the Determination of Microfinance Fields and Values,
and Authority Board of Directors Resolution No. (171) of 2014 Regarding the Service Fees for Entities Operating in the Microfinance Activity,
and the approval of the Authority's Board of Directors at its session dated 30/7/2018.
Has Decided
(Article One)
The word "interim" contained in Item (1) of Article One and Item (1) of Article Two of the aforementioned Authority Board of Directors Resolution No. 171 of 2014 shall be deleted.
(Article Two)
This Resolution shall be published in the Egyptian Gazette and on the Authority's website, and shall take effect from the day following its publication in the Egyptian Gazette.
Chairman of the Board of Directors of the Authority
Dr. Mohamed Omran
General Authority for Financial Supervision
Smart Village, Building no. B-136, Giza
Postal Code: 12577
Tel.: (00202) 35345350 - Fax.: (00202) 35370036
www.FRA.gov.eg
Smart Village, Building 136 - B, Giza, Egypt
Postal Code: 12577
Tel.: +202 35345350 - Fax: +202 35370036
info@fra.gov.eg
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