Regulatory Alerts2019-01-01
Decision of the Board of Directors of the Authority No. (124) of 2019
The Financial Regulatory Authority (FRA) of Egypt issued Decision No. 124 of 2019 to amend its licensing regulations for non-banking financial companies. The decision requires that the board of directors of all affected companies must include at least one female member, exempting only professional companies approved by the Authority's Chairman. Companies must comply with this board composition requirement by December 31, 2020, or at their next board election, whichever is feasible.
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