Regulatory Alerts2020-01-01
Circular No. (12) of 2020 on Permitting Electronic Subscription, Purchase, and Redemption in Investment Fund Documents
The Financial Regulatory Authority (FRA) of Egypt has issued Circular No. 12 of 2020 to permit the electronic processing of subscription, purchase, and redemption transactions for investment fund documents under Law No. 95 of 1992. This directive aims to simplify procedures and reduce physical congestion during the coronavirus pandemic while maintaining strict operational safeguards. Fund distributors must ensure client account independence, utilize secure technological environments, align electronic and physical forms, issue legally compliant electronic subscription certificates, and adhere to all relevant Central Bank regulations.
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