Regulatory Alerts2018-01-01
Board of Directors Decision No. 142 of 2018 (Repealed) on Regulations for the Registration and Transfer of Microfinance Company Branches
The Egyptian Financial Regulatory Authority issued Decision No. 142 of 2018 to establish comprehensive regulations governing the registration, transfer, and closure of branches by companies operating in the microfinance sector. The decision mandates prior regulatory approval, details administrative and technical prerequisites for branch establishment, and defines the required organizational structure, credit authority distribution, and risk management frameworks for financing and marketing branches. Furthermore, it imposes strict qualification, experience, and conduct requirements for key branch personnel, including regional risk officers and branch managers, while outlining submission procedures and ongoing compliance obligations for regulatory supervision.