Financial Regulatory Authority Board Resolution No. (84) of 2021

Financial Regulatory Authority
FINANCIAL REGULATORY AUTHORITY

Chairman of the Authority

Resolution No. (84) of 2021 dated 6/6/2021 Amending Resolution No. (163) of 2018 Regarding the Executive Regulations for Factoring Activities

Board of Directors of the Financial Regulatory Authority

Having reviewed Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments;

And Law No. (176) of 2018 regulating leasing and factoring activities;

And Resolution No. (163) of 2018 regarding the executive regulations for factoring activities;

And after approval by the Authority's Board of Directors in its meeting held on 6/6/2021,

has resolved

(Article One)

Item (3) of the second item: Conditions to be met in the sold right set forth in Article Seven of Resolution No. (163) of 2018 regarding the executive regulations for factoring activities, is replaced with the following item:

3- That it arises from sales transactions of goods or services for non-commercial purposes, excluding real estate.

(Article Two)

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

Chairman of the Board of Directors
Dr. Mohamed Omran

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