Regulatory Alerts2021-01-01
Financial Regulatory Authority Board Decision No. 206 of 2021
The Financial Regulatory Authority issued Board Decision No. 206 of 2021 to amend Decisions Nos. 53 and 56, mandating that non-banking financial companies and consumer financing providers complete a new disclosure form to verify fund sources. The decision further requires that founders, principal shareholders, ultimate beneficiaries, and executive directors remain clear of local or international sanctions lists. It also establishes a minimum 25 million Egyptian pound financing volume threshold for licensed consumer financing providers and takes effect the day after publication in the Official Gazette.
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