Latest in Tag: FRA Highlight
Latest in Tag: FRA
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.
FRA approves Wafa Life Insurance Egypt’s licence for life, health insurance
Egyptian market operations boasts EGP 150m in shareholder equity
Egypt stock issuances decline 48% during 5M of 2020: FRA
Insurance premiums fall by 11.4% to EGP 2.67bn in May
FRA receives proposals for controls on electronic crowdfunding platforms
New draft law to regulate, develop fintech in non-banking financial activities
FRA adds funding insurance premiums to consumer finance activities
Decision also includes membership fees for sports clubs
Egypt’s FRA sets controls on board formation at depository, central registry companies
Community dialogue to discuss ownership structure of futures exchanges, companies of central registry and depositary operating in futures contracts
Egypt’s FRA licenses 8 money market companies in 7M 2020
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.
Egypt mortgage finance drops 84.2% in April
Mortgage Finance Fund did not provide any funds during April, says FRA
FRA to launch Egypt’s first actuarial table for life insurance industry
Egyptian insurance companies reported EGP 35.2bn in total premiums in June 2019
FRA to approve securitisation bonds worth EGP 500m
Securitisation bond issuances expected to reach EGP 20bn before year-end, says Abdel Fadil
FRA launches guide for “Empowering Women” application
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.
FRA adds new commodities, services under consumer finance umbrella
The move aims to facilitate the financing of their purchase, and to facilitate the meeting of consumer needs.
FRA ex-employees cannot work in authority-supervised bodies for 1 year
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.