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Wednesday, 6 November 2019

Egypt’s FRA cuts fees on green bonds issuance by half

REGULATION WATCH- Market regulator slashes service, inspection fees on green bonds in half: The Financial Regulatory Authority (FRA) will reduce its services and inspection fees on green bond issuers by half in a bid to encourage issuances, the market regulator said in a statement (pdf). The fees will now be 0.05% for IPOs and 0.025% for private placements. The FRA had in August named 11 independent institutions to oversee issuance of green bonds. The executive regulations to the Capital Markets Act, which were issued last July, opened the door to the introduction of new financial instruments, including green bonds, suku, short selling, and a futures and commodities exchange. The government has hinted it may issue green bonds locally.

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