Latest in Tag: FRA Highlight
Latest in Tag: FRA
Commercial sector receives largest share of microfinance at 61.4%
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.
In a press release, the FRA stated that the subsidiary company was listed in the commercial registry on 21 March 2021.
Egyptian Association for Travel Insurance established to manage insurance for Egyptian travellers
New mechanism considered to allow agency, partnership agreements between micro enterprises, banks
Postponement will continue until all procedures to ratify amendments of company’s basic system are completed
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.
Total of 64 companies have obtained licence to practice investment funds management activities
EGX enjoys competitive investment environment among global markets as least expensive, says Mohamed Omran
Total of 4 insurance companies have applied for property insurance licence, said FRA Vice-President
FRA granted non-banking financial activities companies 50% reduction in development fee or service charge according to percentage of women they employ
Expected volume of securitization bond issuances to reach EGP 25bn by 2020 end: FRA Chief
Sukuk issuances in 2021 are set to exceed EGP 10bn, says FRA official
FRA’s Sharia Supervisory Committee approves sukuk’s compliance with Islamic Sharia last Thursday
Issuance to comprise 25m sukuk at nominal price of EGP 100 per unit through private placement
Under establishment SME finance companies shall have issued and paid-up capital of not less than EGP 30m
The FRA had requested suspension of CIB shares trading before the start of the Thursday session.
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