Regulatory Alerts2019-01-01
Decision No. 74 of 2019 Amending Decision No. (53) of 2018 on Licensing, Continuity and Share Ownership Rules for Non-Banking Financial Companies
The Financial Regulatory Authority (FRA) Board of Directors issued Decision No. 74 of 2019 to amend its previous licensing framework by establishing precise conditions for granting and maintaining licenses, as well as defining share ownership rules for companies operating in non-banking financial activities. This regulatory update standardizes compliance requirements and clarifies equity participation limits to ensure market stability and corporate governance. The amended decision directly applies to all licensed non-banking financial entities, mandating adherence to the revised licensing criteria and ownership thresholds effective upon publication.
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