The General Authority for Financial Supervision

- Chairman of the Authority -

Decision of the Board of Directors of the Authority No. (205) of 2020 dated 27/12/2020

Regarding the reduction of the development fee and service charge due from licensed companies and entities operating in non-banking financial activities in their dealings and services provided to women

The Board of Directors of the General Authority for Financial Supervision Having reviewed the Constitution; and Law No. (54) of 1975 on Private Insurance Funds; and Law No. (10) of 1981 on Supervision and Control of Insurance in Egypt; and Law No. (95) of 1992 on the Capital Market; and Law No. (93) of 2000 on Central Deposit and Registration of Securities and Financial Instruments; and Law No. (148) of 2001 on Real Estate Financing; and Law No. (10) of 2009 on Regulating Supervision over Non-Banking Financial Markets and Instruments; and Law No. (41) of 2014 on Regulating the Activity of Financing Medium, Small, and Micro Enterprises; and Law No. (176) of 2018 on Regulating the Activity of Financial Leasing and Discounting; and Law No. (18) of 2020 on Regulating the Activity of Consumer Financing; and Decision of the Board of Directors of the Authority No. (187) of 2020 regarding the establishment of a database with companies and entities operating in non-banking financial activities on the services they provide to their clients; and after approval by the Authority's Board of Directors in its meeting held on 27/12/2020;

Decided

(Article One)

The development fee and service charge collected by the Authority from licensed companies and entities operating in non-banking financial activities shall be reduced to the limits specified in Annex No. (1) attached to this Decision, if at least 25% of the dealings of these companies or entities and the services they provide are directed toward women, as specified in the aforementioned Decision of the Board of Directors of the Authority No. (187) of 2020, with such reduction calculated according to the following formula:

First: Development Fee

Reduction Amount = Due Development Fee × 50% × Percentage of the Company or Entity's Dealings with Women.

Second: Service Charge

Reduction Amount = Due Service Charge × 50% × Percentage of the Company or Entity's Dealings with Women.

(Article Two)

This Decision shall be published in the Egyptian Gazette and on the Authority's website, and shall take effect as of the day following its publication in the Egyptian Gazette.

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Chairman of the Board of Directors
The General Authority for Financial Supervision

Dr. Mohamed Omran

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Annex No. (1)

Companies and Entities Operating in Non-Banking Financial Activities	Development Fee	Service Charge
		Branch Services Charge	Electronic Payment Services Charge
1. Securities Brokerage Companies	√	—	—
2. Securities Portfolio Formation and Management Companies	√	—	—
3. Investment Funds	√	—	—
4. Charitable Investment Funds	√	—	—
5. Venture Capital Companies	√	—	—
6. Clearing, Settlement, and Central Deposit Companies	√	—	—
7. Custodians	√	—	—
8. Insurance and Reinsurance Companies	√	—	—
9. Real Estate Financing and Refinancing Companies	√	—	—
10. Financial Leasing Companies	√	—	—
11. Factoring Companies	√	—	—
12. Consumer Financing Companies and Providers	√	—	—
13. Companies Engaged in Financing Medium, Small, and Micro Enterprises	√	—	—
14. Associations and Civil Institutions Engaged in Financing Medium, Small, and Micro Enterprises	—	√	√

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The General Authority for Financial Supervision Chairman's Office

Smart Code: Building 136, Al-Magzar, Egypt
Postal Code: 110
Telephone: +202 3545650, Fax: +202 3547006
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