Decision of the Financial Regulatory Authority Board No. 179 of 2019 Amending Decision No. 53 of 2018 on Licensing Conditions and Share Rules for Non-Banking Financial Companies

The Financial Regulatory Authority (FRA) issued Decision No. 179 of 2019 to amend Decision No. 53 of 2018 regarding licensing conditions and shareholding rules for non-banking financial companies. The amendment specifically removes the mandatory requirement that a company's articles of association must explicitly stipulate certain provisions under Article Four, Item Four of the original decision. This regulatory update is formally published in the Egyptian Gazette and on the official websites of the FRA and the Egyptian Exchange to ensure immediate legal effect.

Get FRA alerts — same-day email on every new publication.

Financial Regulatory Authority

FINANCIAL REGULATORY AUTHORITY

Chairman of the Authority

Decision of the Board of Directors of the Financial Regulatory Authority

No. (179) of 2019 dated 30/12/2019
Amending Decision of the Board of Directors of the Authority No. (53) of 2018 Regarding the conditions for granting and renewing licenses and the rules for shares of companies operating in non-banking financial activities

The Board of Directors of the Financial Regulatory Authority, Having reviewed Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments; And the Presidential Decree No. (192) of 2009 issuing the Basic Statute of the Financial Regulatory Authority; And Decision of the Board of Directors of the Authority No. (53) of 2018 regarding the conditions for granting and renewing licenses and the rules for owning shares of companies operating in non-banking financial activities; And the approval of the Authority's Board of Directors in its session held on 30/12/2019;

Has Decided

(Article One)

The phrase "that the company's basic statute stipulates" appearing in the preamble of Item (4) of Article Four of the aforementioned Decision of the Board of Directors of the Authority No. (53) of 2018 shall be deleted.

(Article Two)

This Decision shall be published in the Egyptian Gazette, on the Authority's website, and on the Egyptian Exchange website.

Chairman of the Board of Directors of the

Financial Regulatory Authority
Dr. Mohamed Omran
46076

Smart Village, Building 136, Giza, Egypt
Postal Code: 110
Telephone: +202 3534520
Fax: +202 35370036
WWW.FRA.GOV.EG

Building Bridges not Walls
Build Bridges, Not Walls

Read the rest free

Lineage: In force

amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Timeline

This document amends: Decision No. (53) of 2018 dated 10/6/2018

Source: Financial Regulatory Authority Egypt — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works