Regulatory Alerts2016-01-01
Decision No. (17) of 2016 of the Authority's Board of Directors
The Financial Regulatory Authority's Board of Directors issued Decision No. (17) of 2016 to establish the mandatory eligibility criteria for founding charitable investment fund companies in Egypt. The regulation mandates that founders must be specific legal entities, civil institutions, or natural persons, with legal entities comprising at least two-thirds of the issued capital unless exempted by the Authority. It further prohibits entities under insolvency or with management convicted of crimes against honor from participating, requires prior regulatory approval for any share transfers, and stipulates publication in the Egyptian Gazette for immediate enforcement.
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