Regulatory Alerts2020-01-01
Board of Directors Decision No. (187) of 2020
The Financial Regulatory Authority (FRA) of Egypt issued Board Decision No. 187 of 2020 mandating all supervised non-banking financial entities to establish and continuously maintain a client database that categorizes customers by gender, language, and service region. The regulation requires these entities to submit quarterly transaction reports to the FRA within fifteen days of each quarter's end, explicitly detailing the mandated client categorization. This decision, approved on December 9, 2020, takes effect the day after its publication in the Egyptian Gazette and applies specific female ownership and leadership thresholds for legal entities.
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