Latest in Tag: FRA Highlight
Latest in Tag: FRA
Investor Protection Fund to elect new chairperson next week: FRA
IPF, specialised in non-commercial risks arising from the activities of companies operating in the field of securities, will also elect a board member representing the companies listed in the Egyptian Exchange (EGX) soon.
FRA issues rules governing SPACs in Egypt
Rules include timeline for companies to pull trigger on SPAC mergers, list on EGX
Immigration Ministry, FRA work on 1st insurance policy for Egyptian expats
Insurance policy will be optional for Egyptians abroad starting January 2022
FRA gives green light to SPACs in Egypt
SPACs to provide funding alternatives to emerging companies, especially in technology, digital technologies: Omran
Egypt’s microfinance activity increases to EGP 21.61bn in April 2021: FRA
Commercial sector receives largest share of microfinance at 61.4%
Egypt’s FRA cuts credit inquiry fees for consumer finance by up to 75%
The move comes as part of the authority’s initiative to facilitate work among companies and providers of consumer finance services. It aims to contribute to increasing the purchasing power of the community.
Egypt’s FRA approves registration of Hadisolb demerging mining subsidiary
In a press release, the FRA stated that the subsidiary company was listed in the commercial registry on 21 March 2021.
Egyptians to receive travel insurance on trips abroad: FRA
Egyptian Association for Travel Insurance established to manage insurance for Egyptian travellers
Egypt’s Financial Regulatory Authority explores boosting MSME financing
New mechanism considered to allow agency, partnership agreements between micro enterprises, banks
FRA postpones elections for MCDR presidency, Board membership
Postponement will continue until all procedures to ratify amendments of company’s basic system are completed
Egypt’s FRA sets new margin trade controls, including ceiling for transactions
Azzam said that his recent meeting with representatives from some stock brokerage firms touched on the need to set new controls for operations for buying securities on margin.
Egypt’s FRA allows investment fund management companies to manage margin purchases funding
Total of 64 companies have obtained licence to practice investment funds management activities
Egypt financial regulator, investment banks discuss stimulating corporate bonds trading
EGX enjoys competitive investment environment among global markets as least expensive, says Mohamed Omran
Timing in Egypt is right for IPOs: Financial Regulator
Total of 4 insurance companies have applied for property insurance licence, said FRA Vice-President
Egypt offers incentives for non-banking financial activities aimed at supporting women
FRA granted non-banking financial activities companies 50% reduction in development fee or service charge according to percentage of women they employ
Financial Regulatory Authority approves 7 securitisation bond issuances worth EGP 10bn
Expected volume of securitization bond issuances to reach EGP 25bn by 2020 end: FRA Chief
Unlisted agricultural company to issue sukuk in January 2021: FRA
Sukuk issuances in 2021 are set to exceed EGP 10bn, says FRA official
FRA expected to approve Sarwa Capital’s sukuk issuance
FRA’s Sharia Supervisory Committee approves sukuk’s compliance with Islamic Sharia last Thursday
FRA checks compliance of Sarwa’s new sukuk issuance with Sharia
Issuance to comprise 25m sukuk at nominal price of EGP 100 per unit through private placement
FRA issues controls for licensing SME finance companies
Under establishment SME finance companies shall have issued and paid-up capital of not less than EGP 30m
FRA allows resumption of CIB shares trading on EGX
The FRA had requested suspension of CIB shares trading before the start of the Thursday session.
Private insurance fund investments increase 2% to EGP 1.03bn in August: FRA
Total of EGP 6.9bn in investments made to insurance funds in first 8 months of 2020
FRA approves HeidelbergCement’s MTO for acquisition of Suez Cement
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.
FRA amends Microfinance Law to include SME financing
Omran said that through the Law No. 201 of 2020, the authority developed an integrated regulation that allows non-traditional financing for SMEs.
FRA directs insurers to set up reserve against EAS 47 application risks
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.
FRA amends financial solvency standards to mortgage finance companies
The amendment covers the issuance of a regulatory procedure to adjust mortgage finance activity.
FRA reduces fees for SME examination, study services by 50%
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 increases maximum allowed residential real estate financing
FRA approves proposal for real estate finance companies to establish guarantee registry
FRA approves draft law regulating fintech in non-banking financial activities
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.
FRA studies IMEX International acquisition offer of Nile Cotton Ginning
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.