Board of Directors Secretariat

Decision of the Board of Directors of the Authority No. (18) of 2016

Dated 28/2/2016
Regarding the Exemption of Charitable Investment Funds from the Development Fee and the Fee for Review and Study Services of Prospectuses or Information Memoranda

The Board of Directors of the General Authority for Financial Supervision Having reviewed the Capital Market Law issued by Law No. (95) of 1992 and its Executive Regulations and the decisions issued in implementation thereof; and Law No. (10) of 2009 concerning the regulation of supervision over non-banking financial markets and instruments; and Presidential Decision No. (192) of 2009 issuing the Basic Statute of the General Authority for Financial Supervision; and Authority Decision No. (29) of 2007 determining the fee for review and study services of prospectuses or information memoranda; and Authority Board of Directors Decision No. (66) of 2009 concerning the development fee imposed on companies subject to the Authority's supervision; and Authority Board of Directors Decision No. (17) of 2016 concerning the conditions required for the founders of a charitable investment fund company; and given the importance of alleviating the financial burdens on charitable investment funds in light of the objective of establishing these funds and the nature of their work, which is limited to spending on charitable and social activities; and upon the approval of the Authority's Board of Directors in its session held on 28/2/2016; has decided

(Article One)

• Charitable investment funds are exempted from the following:
  • First: The fee for review and study services of prospectuses or information memoranda in accordance with Authority Decision No. (29) of 2007.
  • Second: The development fee issued by Authority Board of Directors Decision No. (66) of 2009.

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(Article Two)

This Decision shall be published in the Egyptian Gazette and on the Authority's website, and shall be enforced from the date of its issuance.

Chairman of the Board of Directors
Sherif Samy