EFSA to regulate health industry, says state agencies may issue revenue-backed bonds
EFSA wants to regulate the health insurance industry: The Egyptian Financial Supervisory Authority (EFSA) is drafting proposed amendments to the Insurance Supervision Act that would give it new power to regulate the health insurance industry, Al Borsa quotes EFSA boss Sherif Samy as saying. Meanwhile, EFSA has apparently decided that it will combine legislation on leasing and factoring activities, both of which are currently being drafted, into one act, Al Shorouk reports. The regulator appears to have pushed back the deadline on its completion, as it plans to put it up for discussion by September and to have it introduced in the House by October, after earlier announcing a date of mid-July. Samy also claims a number of government bodies are considering issuing bonds secured by revenues from specific government or municipal projects. EFSA had introduced measures regulating the bonds over two years ago, but they have not been utilized, Al Mal reports.