Regulatory Alerts2018-01-01
Decision of the Board of Directors of the General Authority for Financial Supervision No. 53 of 2018 Amending Licensing and Company Name Ownership Rules for Non-Banking Financial Activities
The General Authority for Financial Supervision (FRA) issued Decision No. 53 of 2018 to amend licensing conditions and company name ownership rules for non-banking financial activities. The amendment formally expands the regulatory definition of financial institutions by adding private insurance funds with invested assets exceeding 100 million Egyptian pounds. Approved by the FRA Board on September 13, 2018, the decision takes effect the day following its publication in the Egyptian Gazette.
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