Regulatory Alerts2019-01-01
Circular Letter No. 14 for the Year 2019
The Financial Regulatory Authority of Egypt issued Circular Letter No. 143/B to establish accreditation criteria for additional entities permitted to cover credit risks for financing granted by licensed leasing and factoring companies. The directive mandates that qualifying risk-covering entities must operate under the Authority's supervision or be listed in Board Decision No. 53 of 2018. Furthermore, it requires that the value of balances covered by these entities be explicitly excluded from the capital base when calculating the financial solvency standards of the leasing and factoring firms.
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