Regulatory Alerts2020-01-01
FRA Board of Directors Decision No. (204) of 2020 Regarding Enhancing Gender Equality in Access to Non-Banking Financial Activities
The Financial Regulatory Authority (FRA) issued Decision No. (204) of 2020, mandating all licensed non-banking financial entities to eliminate gender-based discrimination and implement policies guaranteeing equal, fair, and transparent treatment for male and female clients. The regulation requires these entities to establish dedicated complaint-handling units with multiple accessible submission channels and resolve complete complaints within two weeks, while the FRA’s Enforcement Sector independently reviews implementation-related disputes and issues binding decisions within one month. This decision constitutes a mandatory licensing condition and takes effect the day following its publication in the Egyptian Gazette.
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