Regulatory Alerts2023-01-01
Decision of the Board of Directors of the Authority No. (93) for 2023
The General Authority for Financial Supervision issued Decision No. 93 of 2023 to amend the licensing framework for medium and small enterprise financing companies by mandating a minimum paid-up capital of seventy-five million Egyptian pounds (or foreign currency equivalent). Licensed entities must align their financial status within one year of the decision's effective date, with the Board authorized to grant a two-year extension upon receiving valid justifications. The regulation takes effect the day following its publication in the Egyptian Gazette and on the Authority's electronic website.
Share