Regulatory Alerts2020-01-01
Decision No. 203 of 2020 of the Authority's Board of Directors
The Financial Regulatory Authority of Egypt issued Decision No. 203 of 2020 mandating all licensed financial leasing and factoring companies to pay quarterly supervision and oversight fees calculated at 0.1% of their total revenues within forty-five days of each quarter's end. The decision extends applicable fee provisions to licensed civil society associations engaged in medium and small enterprise financing, while stipulating that delayed payments shall accrue daily interest based on the Central Bank's announced lending and discount rates. This regulation is effective upon publication in the Official Gazette and on the Authority's official website.
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