EGYPT: The Financial Regulatory Authority (FRA) has issued a series of decisions related to the licensing and establishment of companies operating in real estate investment and non-banking financial services.
In the non-banking financing sector, NCB Capital Microfinance Company – Tamkeen and Erada Microfinance Company received license amendments to include microfinance leasing and SME financing, respectively. Qardi Company was also approved to offer financing to SMEs.
Additionally, the FRA approved the establishment of two real estate investment fund companies and two fund management entities, with companies receiving approval to operate in the promotion, subscription coverage and management of real estate investment funds. The Authority also approved the regularization of the National Bank of Egypt and Qatar National Bank within its register, enabling them to engage in government securities and financial instrument transactions in the secondary market.
