2016-01-01

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.

Egypt

Financial Regulatory Authority Egypt

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FRA Board of Directors Resolution No. (23) of 2016 dated 28/2/2016 regarding the rules for issuing bonds and Sukuk not having a credit rating, subscription rules therein, and listing conditions on the Egyptian Exchange last amended on 25/1/2023 according to 2023/1/25 1 Board of Directors of the Financial Regulatory Authority

(Article One)

(Article Two)

(Article Three)

(Article Four)

(Article Five) (Article Six)

2 The text of Article Five was replaced by FRA Board of Directors Resolution No. 12 dated 25/1/2023.