FRA to legislate for short-term bonds this quarter? The Financial Regulatory Authority (FRA) is reportedly planning to allow for the issuance of short-term bond (bonds with durations of less than one year) during the current financial quarter, sources with knowledge of the matter told Amwal Al Ghad. Officials are currently in talks with a number of international institutions — including investment banks, credit rating agencies, and legal advisors — for their insights on legislation the FRA is drafting to set the framework and governing rules for short-term bonds, which were the only major financial instrument that didn’t make it into the new Capital Markets Act. The act had allowed for short-selling, sukuk, and commodities and futures exchanges. Representatives from organizations, including the EBRD, had attended a workshop on the topic in Cairo last month.