Financial Regulatory Authority Board Resolution No. (187) of 2020

FINANCIAL REGULATORY AUTHORITY

Chairman of the Authority

Board Resolution No. (187) of 2020 dated 2020/12/9

Regarding the establishment of a database by companies and entities operating in non-banking financial activities, provided to their clients

The Board of Directors of the Financial Regulatory Authority

Having reviewed the Private Insurance Funds Law issued by Law No. (54) of 1975; and the Supervision and Regulation of Insurance in Egypt Law issued by Law No. (10) of 1981; and the Capital Market Law issued by Law No. (95) of 1992; and the Central Depository and Registration of Securities and Financial Instruments Law issued by Law No. (93) of 2000; and the Real Estate Financing Law issued by Law No. (148) of 2001; and Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments; and Law No. (141) of 2014 regulating the activity of financing medium, small, and micro-enterprises; and the Law regulating leasing factoring activity issued by Law No. (176) of 2018; and the Law regulating consumer activity issued by Law No. (18) of 2020; and after approval by the Authority's Board of Directors in its meeting held on 2020/12/9;

Resolved

(Article One)

Companies and entities operating in non-banking financial activities subject to the Authority's regulatory supervision are obligated to establish a database containing the services they provide to their clients, taking into account in this database customer segmentation - at a minimum - according to the following determinants:

Smart Village, Building 136-B, Giza, Egypt
Postal Code: 12577
Tel: +202-35345350 - Fax: +202-35370036 info@fra.gov.eg www.fra.gov.eg

1. Customer type (male - female).
2. Customer age group.
3. Geographic area for service provision.

Regarding legal entities, the segmentation concerning women as mentioned in the preceding paragraph includes the following two cases:

1. One or more women own at least (51%) of the share capital of the company or establishment.
2. One or more women own at least (20%) of the share capital of the company or establishment, provided that one or more women hold the position of Chairman of the Board, Managing Director, Executive Director, or Deputy to any of them.

(Article Two)

Companies and entities operating in non-banking financial activities subject to the Authority's regulatory supervision are obligated to continuously update the database referred to in Article One of this Resolution, and are also obligated to submit quarterly reports to the Authority regarding their transactions with clients, indicating the aforementioned segmentation, within a deadline of fifteen days from the end date of the period covered by the report.

(Article Three)

This Resolution shall be published in the Egyptian Gazette and on the Authority's electronic website, and shall take effect as of the day following its publication in the Egyptian Gazette.

Chairman of the Board of Directors
Dr. Mohamed Omran

Smart Village, Building 136-B, Giza, Egypt
Postal Code: 12577
Tel: +202-35345350 - Fax: +202-35370036 info@fra.gov.eg www.fra.gov.eg