RegAlertRule · FRA · 8 Apr 2020
Board of Directors Decision No. 65 of 2020 Amending Decision No. 53 of 2018 on Licensing, Renewal, and Share Ownership Rules for Non-Banking Financial Activities
The Financial Regulatory Authority's Board of Directors issued Decision No. 65 of 2020 to amend Decision No. 53 of 2018 concerning licensing, renewal, and share ownership regulations for non-banking financial companies. The amendment specifically repeals the exception clause in Article Twelve that previously excluded Item No. 2 of Article Three. This decision becomes legally binding the day after its publication in the Egyptian Official Gazette and on the Authority's official website.
Financial Regulatory Authority
FINANCIAL REGULATORY AUTHORITY
Chairman of the Authority
Board of Directors Decision No. (65) of 2020 dated 8/4/2020
Amending Board of Directors Decision No. (53) of 2018 regarding the conditions for granting and maintaining licenses and the rules for share ownership of companies operating in non-banking financial activities
The Board of Directors of the Financial Regulatory Authority
Having reviewed the Capital Market Law issued by Law No. (95) of 1997 and its Executive Regulations; Having reviewed Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments; Having reviewed Presidential Decree No. (192) of 2009 establishing the Basic System of the Financial Regulatory Authority; Having reviewed Board of Directors Decision No. (53) of 2018 regarding the conditions for granting and maintaining licenses and the rules for share ownership of companies operating in non-banking financial activities; And after approval by the Board of Directors in its session held on 8/4/2020:
Decided
(Article One)
The phrase "except for Item No. 2 of Article Three thereof" contained in Item (1) of Article Twelve of the aforementioned Board of Directors Decision No. (53) of 2018 is hereby repealed.
(Article Two)
This Decision shall be published in the Egyptian Official Gazette and on the Authority's website, and shall take effect from the day following its publication in the Egyptian Official Gazette.
Chairman of the Board of Directors
Dr. Mohamed Osman
Smart Village, Building 136, Giza, Egypt
Postal Code: 110
Telephone: +202 3534530
Fax: +202 35370066
WWW.FRA.GOV.EG
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Source: Financial Regulatory Authority Egypt — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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