Financial Regulatory Authority
These entities are the Center of Organic Agriculture in Egypt (COAE), TUV NORD Egypt Company, and the international entity TUV NORD Cert Company. The approvals are valid for a period of one year from the date of issuance
By the end of November 2023, the number of consumer finance clients also witnessed a growth of 22.8 percent, to reach 3.128 million beneficiaries, compared to 2.546 million clients at the end of November 2022
The primary objective of this resolution is to ensure the financial stability of these companies and their ability to deliver efficient services
The financial derivatives market will enable investors to better manage the risks associated with various investment instruments, and promote further investing in stocks and securities
The newly launched Resolution No. (223) of 2023 modifies Resolution No. (58) of 2018, which pertains to the regulations for licensing banks and specific non-banking financial companies to engage in investment fund activities
Within the authority’s framework and efforts to enhance regulatory capabilities, and safeguard customer rights, FRA Chairman Mohamed Farid issued Circular No. 4 of 2023
The newly established tables will be mandatory for all life and capital formation insurance companies in Egypt.
The financial market came at the top of the list, as the value of stock issuances during the second quarter amounted to about LE 97 billion.
This regulatory measure aligns with the FRA's broader goals of boosting market efficiency, protecting competitiveness, and promoting fairness in dealing and pricing.
The company has offered to repurchase shares from shareholders who object to this move at a price of LE 39.80 per share.
During last year’s COP27 conference, Egypt revealed that it would launch Africa’s first voluntary carbon market, allowing companies in Egypt and Africa to trade certified carbon credits
The minimum amount is $500 and the maximum is $10,000 per plan during the year.
The approval was granted in accordance with the decision of the FRA's Board of Directors No. 53 of 2018 and its amendments, as well as the decision of the specialized committee of the FRA dated August 6 of this year.
The FRA issued all regulatory and legislative decisions and controls to regulate the dealings of investment funds in minerals.
Exits MENA is now authorized to offer listing and public offering services to its clients on the Egyptian Stock Exchange (EGX) and the SME platform, Nile Stock Exchange (NILEX) under law no. 95 of 1992.
FRA gave its approval to Evolve Azimut to launch the first gold investment fund in Egypt, it will be run by Azimut Egypt, while Catalyst Partners will be in charge of pricing the fund’s investment document.
FRA head, Mohamed Farid, has announced that the authority’s board of directors has issued two new decisions regarding investment funds dealing in minerals as one of the transferred financial values
This came after reviewing the law of joint stock companies, partnerships limited by shares, limited liability companies, and one-person companies promulgated by Law No. 159 of 1981 and its executive regulations, according to the FRA.
Pachin shares rose by 4.3 percent, to LE 32.32, in the middle of Sunday's trading, after the approval to publish the purchase offer announcement.
It is an open investment fund, the documents of which are offered through public subscription, according to the announced data.