FRA
He emphasized the significant role these funds play in advancing the Egyptian government's efforts to promote financial inclusion.
Farid announced, during his speech at the annual summit of Capital Markets, Monday, the issuance of new rules for the listing and removal of carbon emissions reduction certificates in the coming days.
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
He added that the authority has set rules focusing on buildings and administrative projects that generate income.
The new procedures are aligned with the government’s strategy to bolster foreign investment in the stock market, update the data of foreign investment institutions already engaged in the EGX, and increase trading of financial instruments and securities.
The FRA chairman reviewed the implemented steps of far in preparation for the market’s launch. The meeting also delved into the recent developments related to the Egyptian Stock Exchange and the Tawsiyat Clearing Services Company
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
These approvals were divided into 190 approvals for share issuances (both for new and existing companies), with a total value of LE 27.5 billion during July 2023.
The newly established tables will be mandatory for all life and capital formation insurance companies in Egypt.
IOPS, founded in 2004, serves as an international forum for policy dialogue, information exchange, and the harmonization of international standards related to the regulation of private pension funds.
The cash price is set at LE 0.65 per share in accordance with the provisions of the twelfth chapter of the Executive Regulations of Capital Market Law No. 95 of 1992.
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.
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 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 Financial Regulatory Authority (FRA) increased the maximum financing limit for micro-enterprises by 10 percent to LE 220,000 up from LE 200,000.
It also decided to extend the validity period of the purchase offer to April 4 instead of April 3.
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.
This is done under the auspices of the EGX and in partnership with the Financial Regulatory Authority, with the aim of incubating and sponsoring new projects and ideas in all areas of financial technology.
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