Regulatory Alerts2020-01-01
Decision of the Board of Directors of the Authority No. (98) of 2020
The Financial Regulatory Authority of Egypt issued Decision No. (98) of 2020 to regulate the trading of movable financial assets by investment funds structured as joint-stock companies or licensed non-banking financial entities. The decision mandates that such funds must assign future financial rights portfolios from licensed non-banking financial institutions, subject to strict investment policies, risk management frameworks, credit assessment limits, and anti-money laundering compliance. It further requires transparent disclosure in prospectuses, establishes custodial and quarterly reporting obligations for investment managers, and amends the title of a prior 2018 decision to reflect its focus on microfinance credit portfolios.
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