The Financial Regulatory Authority

FINANCIAL REGULATORY AUTHORITY

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Chairman of the Authority

Decision No. ( 1670 ) for 2023

Issued on: 11 / 6 / 2023

Regarding the Reconstitution of the Committee for Adjudicating Licensing Applications for Full-Time Investment Managers for Private Insurance Funds

The Chairman of the Financial Regulatory Authority,

Having reviewed Law No. 5 for 1975, issuing the Private Insurance Funds Law and its executive regulations, with amendments; Having reviewed Law No. 10 for 1981, issuing the Supervision and Control of Insurance in Egypt Law and its executive regulations, with amendments; Having reviewed Law No. (10) for 2009 regarding the regulation of supervision over non-banking financial markets and instruments; Having reviewed Presidential Decision No. (192) for 2009, issuing the Basic Statute of the Financial Regulatory Authority; Having reviewed Investment Minister Decision No. (109) for 2015, amending certain provisions of the executive regulations of the Private Insurance Funds Law; Having reviewed Board of Directors Decision No. (99) for 2015 regarding the rules and regulations governing the management of investment portfolios of private insurance funds; Having reviewed Authority Chairman Decision No. 1670 for 2023 regarding the reconstitution of the Committee for Adjudicating Licensing Applications for Full-Time Investment Managers for Private Insurance Funds,

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Has Decided

Article (1):

The Committee for Adjudicating Licensing Applications for Full-Time Investment Managers for Private Insurance Funds is constituted, chaired by:
Professors / Salam Azzam – Deputy Chairman of the Authority, and comprising the following members:

Position	Name
Deputy Chairman of the Committee	Dr. / Rehab Taha - Supervisor of the Central Administration for Research and Development
Member	Prof. / Hatem Nour - Head of the Central Administration for Establishment and Licensing
Member	Dr. / Adel Hussein - Head of the Central Administration for Supervision and Control over Insurance Companies
Member	Dr. / Mahmoud Samaha - Head of the Central Administration for Supervision and Control over Private Insurance Funds
Member	Prof. / Mahmoud Gabrallah - Deputy Head of the Central Administration for Corporate Finance and Securities Issuance

The duties of the Committee's Secretariat are performed by Ms. / Bahigat Abbas Wahid - Second Specialist at the Central Administration for Licensing and Registration of Professionals.

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Article (2):

The Committee is specialized in expressing opinions on the study memoranda prepared regarding licensing applications for full-time investment managers for private insurance funds, and in providing its recommendations thereon.

Article (3):

The Committee meets monthly or whenever necessary upon invitation from its Chairman, and the Chairman may invite anyone he deems appropriate, from within or outside the Authority, to attend its meetings in cases requiring such attendance, without having a counted vote in deliberations.

Article (4):

The Committee's meetings are valid unless attended by at least two-thirds of its members, and its recommendations are issued by a majority of the attending members. The Committee prepares minutes detailing the results and recommendations, which are submitted to Dr. / the Chairman of the Authority for approval.

Article (5):

The Authority's Decision No. (1670) for 2023 is repealed.

Article (6):

This Decision takes effect from the date of its issuance, and competent authorities are tasked with implementing it according to their respective jurisdictions.

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Chairman of the Board of Directors
Financial Regulatory Authority
Dr. Mohamed Fared Saleh

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Smart Village, Building 136, Giza, Egypt
Postal Code: 110
Telephone: +202 35345350
Fax: +202 35370066
WWW.FRA.GOV.EG

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ARAB REPUBLIC OF EGYPT
Financial Regulatory Authority
FINANCIAL REGULATORY AUTHORITY
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