Regulatory Alerts2011-01-01
Prime Minister's Decision No. 255 of 2011
The Egyptian Prime Minister issued Decision No. 255 of 2011 to amend the 2004 decree establishing a financial risk insurance fund for securities market participants. The amendment empowers the Fund's Board to adjust periodic contribution rates according to market conditions and allows the Fund to compensate clients of member companies by purchasing equivalent securities. Furthermore, it authorizes emergency interventions through interest-bearing loans up to 20% of the Fund's resources to support market stability and permits allocating up to 10% of its funds into a listed securities investment portfolio.
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