• Thursday, 14 February 2019

    FRA sets a minimum quota for SME leasing and insurance

    Microinsurance and financial leasing firms will be required to create designated accounts of a minimum EGP 10 mn to support small businesses, the Financial Regulatory Authority (FRA) head Mohamed Omran said in a statement. No more details were provided on...
  • Tuesday, 12 February 2019

    FRA’s non-banking services strategy entered into force

    REGULATION WATCH- Financial Regulatory Authority is zeroing in on non-bank financial services: The Financial Regulatory Authority’s comprehensive non-banking services strategy has entered the implementation phase, the authority said in a statement yesterday. The statement sets out ambitious goals for the...
  • Thursday, 31 January 2019

    Insurance companies not happy with capital requirements in Insurance Act

    LEGISLATION WATCH- Insurance companies object to high capital requirements in Insurance Act: The industry association representing the nation’s insurance company appears displeased with a number of aspects of the Insurance Act, and has prepared its notes on the legislation. The...
  • Sunday, 27 January 2019

    Sarwa Capital receives preliminary FRA approval to for sukuk issuer license

    Consumer- and structured-finance player Sarwa Capital has received a preliminary approval from the Financial Regulatory Authority (FRA) for a license to issue sukuk (sharia-compliant bonds), FRA boss Mohamed Omran revealed in a press conference last Tuesday. He noted that the...
  • Thursday, 3 January 2019

    What we’re tracking this week and beyond

    An administrative court will hear on Saturday Beltone Financial’s appeal against a six-month suspension handed to its investment banking arm by the Financial Regulatory Authority. The FRA last month rejected Beltone’s appeal of the decision. Are we hosting the African...
  • Thursday, 3 January 2019

    FRA approves Fawry’s insurance brokerage license

    Fawry gets insurance brokerage license: The Financial Regulatory Authority (FRA) has given e-payments chain Fawry final approval for a license to provide insurance brokerage services, Amwal Al Ghad reports, citing unnamed sources. Fawry’s insurance brokerage arm will kick off with...
  • Wednesday, 2 January 2019

    What we’re tracking this week and beyond

    An administrative court will hear on Saturday Beltone Financial’s appeal against a six-month suspension handed to its investment banking arm by the Financial Regulatory Authority. The FRA last month rejected Beltone’s appeal of the decision.A government committee mandated with defining...
  • Wednesday, 2 January 2019

    FRA completes first draft of Consumer Credit Act

    LEGISLATION WATCH- FRA completes first draft of Consumer Credit Act: The Financial Regulation Authority finished writing the first draft of its proposed Consumer Credit Act, FRA Deputy Chairman Khaled El Nashar told Al Mal. The proposed law differentiates between retailers...
  • Tuesday, 18 December 2018

    What we’re tracking this week and beyond

    The Cairo Economic Court is due to rule tomorrow on an appeal by pharma distributors of an anti-trust fine. The distribution companies (Ibnsina, Ramco, Multipharma and United Company for Distribution and Trade) are appealing an Egyptian Competition Authority fine of...

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