The FRA had requested suspension of CIB shares trading before the start of the Thursday session.
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Total of EGP 6.9bn in investments made to insurance funds in first 8 months of 2020
The FRA also approved a MTO submitted by Suez Cement, which is 55.08% owned by HeidelbergCement, to acquire 100% of its subsidiary Tourah Portland Cement at EGP 7.18/share.
Omran said that through the Law No. 201 of 2020, the authority developed an integrated regulation that allows non-traditional financing for SMEs.
The reserve shall be 1% of a company’s total assets and allocated from the net profit after withholding tax for the previous fiscal year ending 30 June 2020.
The amendment covers the issuance of a regulatory procedure to adjust mortgage finance activity.
The discount will be applied in a range of circumstances when SMEs apply to obtain the FRA’s approval for public offering prospectuses. It is to be applied during incorporation or capital increase, and when shares are issued for a merger, split, or in case of issuing shares in excess of profits or reserves.
FRA approves proposal for real estate finance companies to establish guarantee registry
FRA Chairperson Mohamed Omran said that the approval will support the Egyptian state’s adoption of a policy providing a remote work environment based primarily on the safe exchange of information and supervision.
In late August, IMEX International submitted a compulsory purchase offer on up to 52.99 million NCGC shares, at a cash price of EGP 50/share. The purchase offer stipulates that the acquisition percentage should not be less than 51% of the company’s shares.
Egyptian market operations boasts EGP 150m in shareholder equity
Insurance premiums fall by 11.4% to EGP 2.67bn in May
New draft law to regulate, develop fintech in non-banking financial activities
Decision also includes membership fees for sports clubs
Community dialogue to discuss ownership structure of futures exchanges, companies of central registry and depositary operating in futures contracts
Omran added that of the eight companies: four focus on issuing securities to raise capital; one is in the fund management sector; one is in venture capital; one is in brokerage; and another has been set up as a holding company in securities portfolio establishment and management.
Mortgage Finance Fund did not provide any funds during April, says FRA
Egyptian insurance companies reported EGP 35.2bn in total premiums in June 2019
Securitisation bond issuances expected to reach EGP 20bn before year-end, says Abdel Fadil
The video guide presents both an overview of the application and the steps women should take to register. It also explains the privileges that female applicants obtain by using the application.
The move aims to facilitate the financing of their purchase, and to facilitate the meeting of consumer needs.
FRA Chairperson Mohammed Omran said the ban extends to former employees whose service ended with a clear or implied resignation who may look for employment at any of the entities subject to its supervision and control.
Solvency standards set minimum capital adequacy to meet credit. operating risks at consumer finance companies
2,700 citizens use nano-finance products with loans amounting to EGP 650,000 end-May, says Omran
Transferred financial value funds provide financing for all financing companies, says Omran
These sectors cover the industrial and agricultural development and related marketing activities, as well as complementary products and services.
Contribution from insurance companies amounts to EGP 255m, or 41.2%, of total FRA income
Senior business executives at major institutions to decide registration requests for database without FRA interference, says Omran
Study finds oversupply of companies licensed in insurance brokerage activity relative to the market’s needs
Amendments to registration rules to allow non-company members to be included on audit committees, says Omran