Regulatory Alerts2023-01-01
Decision of the FRA Board of Directors No. 50 dated March 22, 2023 regarding the request to suspend decisions of the Egyptian Bank for Export Development’s Ordinary General Assembly held on October 25, 2023
The Financial Regulatory Authority’s Board of Directors issued Decision No. 50 on March 22, 2023 to reject a shareholders’ request for suspending the Ordinary General Assembly decisions of the Egyptian Bank for Export Development, citing unmet formal requirements under Article 10 of the Capital Market Law. The ruling takes effect upon issuance, mandates publication on the Egyptian Exchange screens and the Authority’s official website, and directs relevant agencies to execute its provisions. It formally concludes the administrative review initiated by shareholders following the October 25, 2023 assembly meeting.
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