Board of Directors Decision No. (95) of 2019

The Financial Regulatory Authority (FRA) issued Board Decision No. (95) of 2019 to amend its 2018 factoring executive controls by introducing a new article governing Sharia-compliant factoring activities. The decision requires factors to secure prior approval from a designated Sharia Supervisory Board to verify contract terms and mandates explicit Sharia-compliance disclosures in all promotional materials. This amendment becomes effective the day after its publication in the Egyptian Gazette and on the Authority’s official website.

Egypt

Financial Regulatory Authority Egypt