Regulatory Alerts2020-01-01
Board of Directors Decision No. (69) of 2020 Amending Decision No. (191) of 2018 on Financial Solvency Standards for Licensed Financial Leasing Companies
The Financial Regulatory Authority of Egypt issued Decision No. 69 of 2020 to amend the financial solvency standards for licensed financial leasing companies. The amendment grants these companies a three-year compliance grace period regarding concentration ratio limits and general provision requirements, while mandating quarterly progress reports to the Authority. Additionally, the revised standards allow a phased implementation of the general provision ratio, scaling from 50% to 100% over three years based on the 2019 financial statements, subject to Egyptian Accounting Standards.
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