FRA increases the financing limit for micro-sized entities by 10%

Mon, 15 May 2023 - 04:24 GMT

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.

UAE's National Paints increases offer price to acquire “Pachin” to LE36/per share

Thu, 23 Mar 2023 - 02:18 GMT

It also decided to extend the validity period of the purchase offer to April 4 instead of April 3.

Egypt's FRA approves establishment of Malath Consumer Finance Company

Mon, 20 Mar 2023 - 02:45 GMT

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.

Egypt launches Financial Technology Solutions Support Center "CORBEH"

Sun, 19 Mar 2023 - 04:42 GMT

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.

Egypt's FRA studies applying Basel 3 standards at financial sector companies

Thu, 09 Mar 2023 - 04:48 GMT

Mohamed Farid added, during a conference, Thursday, that the authority is also studying increasing the minimum limits for insurance companies’ capital.

Egypt announces temporary listing of 3 companies on EGX, studies files of another 4

Thu, 09 Mar 2023 - 04:30 GMT

The Egyptian Stock Exchange is studying files for the listing of 4 new companies, according to the announced data.

Egypt seeks to issue title deed insurance policy to motivate foreigners to buy real estate

Thu, 09 Mar 2023 - 04:15 GMT

Farid affirmed, during a press conference held, Thursday, that this document will help motivate non-Egyptians to buy Egyptian real estate, because it will be an insurance policy against the risks of not proving ownership.

Officials at FRA, CBE, EGX review latest developments in national economy

Mon, 20 Feb 2023 - 06:00 GMT

The meetings were held to cast a spotlight on the latest developments in the Egyptian economy.

FRA amends rules for listing securities on EGX prior to government offering program

Tue, 07 Feb 2023 - 01:00 GMT

The rules provide for organizing and shortening the time periods for a number of procedures necessary to complete the capital increases of companies whose securities are listed, while providing flexibility for companies to increase their capital in stages.

FRA okays issuance of Egypt’s first future flow securitisation

Sun, 06 Nov 2022 - 07:34 GMT

Issued by the Financial Group for Securitization, the program's first issue stood at LE 800 million, according to a bourse statement on Sunday.

Egypt's FRA approves establishment of fund to invest in Egyptian stocks .

Tue, 20 Sep 2022 - 05:43 GMT

It is an open investment fund, the documents of which are offered through public subscription, according to the announced data.

Egypt's FRA approves new amendments to facilitate procedures for listing companies on EGX

Tue, 13 Sep 2022 - 01:40 GMT

The amendments included the possibility of temporarily listing the shares of Egyptian and foreign companies on the stock exchange’s lists before registering with the authority, instead of prior registration.

FRA issues 1st license to practice microfinance activity according to Islamic financing formulas

Tue, 30 Aug 2022 - 04:42 GMT

The issuance of the new license adds a new dimension to the existing financing mechanisms in the local market in terms of his creation of the “Wakala Investment” formula.

Egypt approves restructuring FRA's Board of Directors for a period of 4 years

Thu, 25 Aug 2022 - 01:40 GMT

The decision stipulated the formation of the authority’s board of directors, which includes Islam Abdel Azim Azzam, as Vice Chairman of the Board of Directors, and Ahmed Abdel Rahman Al Sheikh, as Vice Chairman of the Board of Directors.

Sisi appoints Mohamed Farid as acting Chairman of FRA for a year

Sun, 07 Aug 2022 - 02:31 GMT

According to FRA’s statement, Mohamed Farid Saleh has been appointed as the Chairman of the Egyptian Stock Exchange since August 2017, according to Prime Minister Decision No. 1759/2017.

FRA mulls issuing securitized bonds worth LE 20B

Tue, 02 Aug 2022 - 03:46 GMT

The total amount of securitized bonds, which have been issued since the beginning of 2022 and after the approval of the NUCA's request, will reach LE 30 billion and it will be the biggest issuance of its kind in the Egyptian capital market.

FRA, UN Women Egypt organize series of seminars on “Gender Equality and Enhancing the Work Environment”

Mon, 04 Jul 2022 - 02:21 GMT

Hisham Ramadan urged during his speech the non-banking financial sector to prioritize integrating the Women’s Empowerment Principles (WEPs) into their strategies, and to check the new global trends that highlight the importance of compatibility with sustainability and compliance standards related to Environmental, Social and Governance (ESG) disclosures.

FRA launches 2nd phase of 2022-2026 strategy

Mon, 30 May 2022 - 05:52 GMT

Speaking at a press conference, FRA Chairman Mohamed Farid said the strategy is based on six main axes related to the non-banking financial sector.

GIZ, FRA cooperate to support growth of SMEs in Egypt

Tue, 24 May 2022 - 02:15 GMT

The GIZ stated, in a press statement, Monday, that it is implementing, in cooperation with the financial supervision, a strategy to improve banking supervision and regulation, in addition to financial stability and comprehensiveness.

FRA refuses to approve fair value report for Dice Readymade Garments Company

Wed, 06 Apr 2022 - 01:37 GMT

The fair value report for the purpose of increasing the capital does not comply with the financial evaluation criteria for facilities.