Regulatory Alerts2018-01-01
Board of Directors Decision No. 53 of 2018 Amending Licensing Conditions and Company Name Ownership Rules for Non-Banking Financial Activities
The Financial Regulatory Authority (FRA) issued Decision No. 53 of 2018 to amend its prior licensing framework for non-banking financial activities. The amendment specifically adds two new categories to the definition of financial institutions, including private insurance funds with invested assets exceeding 100 million Egyptian pounds. This decision was approved by the FRA Board of Directors on September 13, 2018, and takes effect the day after its publication in the Egyptian Gazette.
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