FRA
The FRA noted a growing number of online ads and social media posts that entice citizens to commit funds to ventures lacking the necessary licenses.
Both offerings will be conducted through private placements, targeting financial institutions and high-net-worth investors.
The Financial Regulatory Authority (FRA) has approved two new projects to register on the voluntary carbon market (AFRICARBONex).
The changes are part of the FRA’s ongoing efforts to support financial sustainability and enhance access to funding.
The Financial Regulatory Authority (FRA) has unveiled new regulations governing the investment allocations of insurance and reinsurance companies. The move is part of broader efforts to enhance financial stability and optimize investment efficiency in the sector.
Funds operating defined benefit pension plans are now allowed to invest up to 10 percent of their total assets in metal-related financial instruments traded on the Egyptian Exchange (EGX).
This replaces the previous fiscal year, which began on July 1. The new regulations are within the FRA's efforts to implement guidelines outlined in the Unified Insurance Law, which came into effect in July 2024.
The voluntary carbon market is a system that allows businesses, organizations, and individuals to voluntarily buy and sell carbon credits to offset their greenhouse gas emissions.
Consumer financing totaled LE 47.4 billion, factoring operations amounted to LE 55.8 billion, and real estate financing reached LE 20.9 billion.
The license enables oliv to offer fully digital factoring and reverse factoring services to Egyptian businesses, a move that could revolutionize access to working capital for the country’s SMEs.
Consumer financing involves providing funds for purchasing goods and services for personal use, with repayment terms spanning at least six months.
The sandbox seeks to support startups offering smart digital solutions, making it easier for them to enter the financial market while enhancing the regulatory framework for fintech.
He reaffirmed the FRA’s dedication to creating a supportive regulatory environment and advancing innovative solutions in line with Egypt’s Vision 2030.
With this approval, Beltone, in collaboration with its partner CRIF — an international leader in credit and business information analytics — will establish Egypt’s second credit rating agency.
According to a recent FRA report, the loan balances granted to MSMEs increased to LE 66.8 billion by the end of July 2024, compared to LE 46.143 billion by the end of July 2023.
CPME aims to complete acquisitions of target companies within two years from the date of its listing, explained the FRA statement.
Ongoing efforts are directed towards expediting digital transformation and fostering financial inclusion within this sector.
Trading started today, August 13th, with oversight provided by financial authorities in Egypt and across Africa.
They recently signed a memorandum of understanding (MoU) that outlines their shared commitment to promote climate practices and sustainable financing in Egypt.
In its report, the FRA explained that total loans for micro, small, and medium enterprises (MSMEs) in Egypt surged to LE 62.8 billion in March 2024 from LE 40.9 billion in March 2023
