Regulatory Alerts2018-01-01
Financial Regulatory Authority Board of Directors Decision No. (188) of 2018
The Financial Regulatory Authority (FRA) issued Decision No. 188 of 2018 to mandate that sukuk issuing companies and beneficiary entities prepare and present their financial statements in strict compliance with Egyptian Accounting Standards. The regulation requires these statements to be audited under Egyptian Auditing Standards and limited assurance procedures, while integrating applicable Shariah standards from the AAOIFI to the extent they do not conflict with Egyptian standards. This decision becomes effective the day following its publication in the Egyptian Official Gazette and on the Authority's official website.
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