Regulatory Alerts2020-01-01
Decision No. (209) of 2020 of the Board of Directors of the Financial Regulatory Authority Regarding the Dissolution of the Insurance Fund for the Authority's Employees
The Financial Regulatory Authority (FRA) issued Decision No. (209) of 2020 to dissolve the existing Board of Directors of its internal Insurance Fund for Employees, registered under No. (474). The FRA appointed a temporary three-member board to oversee the fund's operations, ensure full revenue collection, disburse due benefits, prepare 2020 final accounts and a new actuarial study, and convene a General Assembly to elect a permanent board. This temporary board's mandate expires on March 31, 2021, or upon the successful election of a new permanent board, in compliance with Egyptian insurance fund governance laws.
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