Regulatory Alerts2016-01-01
FRA Board of Directors Resolution No. (23) of 2016 (Updated Version 2023)
The Financial Regulatory Authority (FRA) issued Resolution No. 23 of 2016, amended in January 2023, to establish issuance, subscription, and listing rules for unrated bonds and Sukuk on the Egyptian Exchange. The resolution mandates that these financial instruments comply with specific credit rating exemptions, subscription procedures, and exchange listing requirements. Furthermore, it formally incorporates the amendments from FRA Board Resolution No. 12 of 2023, particularly updating the provisions of Article Five.
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