Regulatory Alerts2018-01-01
Decision of the Board of Directors of the Financial Regulatory Authority No. 139 of 2018 on the Provisions and Procedures for Registration in the Financial Leasing Contracts Register
The Financial Regulatory Authority (FRA) of Egypt issued Decision No. 139 of 2018 to establish a mandatory registration register for financial leasing contracts, associated sale contracts, and their amendments concluded in or performed within Egypt. The regulation mandates specific applicant and asset data for registration, outlines procedures for contract assignment, amendments, and deletion due to expiration, mutual agreement, court orders, or lessee default or bankruptcy, and sets standardized fees ranging from 50 to 500 Egyptian pounds per registration or endorsement. It further grants interested parties access to register extracts and certificates upon payment of a 50-pound fee, with the decision taking effect the day after its publication in the Egyptian Gazette.