Regulatory Alerts2021-01-01
Financial Regulatory Authority Board Resolution No. 87 of 2021 Amending Resolution No. 58 of 2018 on Licensing Banks and Non-Banking Financial Companies to Conduct Investment Fund Activities
The Financial Regulatory Authority issued Resolution No. 87 of 2021 to amend Resolution No. 58 of 2018, requiring management service companies and licensed non-banking financial entities to prepare fund financial statements that disclose quarterly transactions with related parties and all paid financial obligations. This amendment expands the authorized activities of banks and certain non-banking financial companies to include conducting investment fund operations independently or jointly. The resolution takes effect the day after its publication in the Egyptian Gazette and on the official websites of the Authority and the Egyptian Exchange.
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