الهيئة العامة للرقابة المالية

• The list of banks that are not primary dealers comprises Abu Dhabi Commercial Bank, United Bank, Arab International Bank and Emirates NBD.

In a significant move aimed at bolstering the secondary market for government debt instruments, FRA Establishment and Licensing Committee has granted its approval for four banks to regularize their operational status. This decision, made by the Committee formed under Decree No. 3060 of 2023, paves the way for these institutions to be officially registered at FRA’s registry and subsequently engage in trading government securities and other financial instruments within the secondary market.

This initiative underscores FRA’s continuous dedication to foster a robust and well-regulated non-bank financial sector. The Authority’s primary objectives include ensuring the stability and transactional integrity of these markets, with a particular focus on the secondary market for government debt. By expanding the pool of eligible participants, FRA intends to democratize access to non-bank financial services and products, ultimately promoting greater financial inclusion across various segments of the Egyptian economy.

The four financial institutions that have successfully secured the approval of FRA’s Establishment and Licensing Committee, identified as non-primary dealers are: Abu Dhabi Commercial Bank, United Bank, Arab International Bank and Emirates NBD. This regulatory action complies with FRA Board of Directors Decree No. 232 of 2024, outlining the approval framework for secondary market trading of government securities and FRA Chairman’s Decree No. 394 of 2025 which extended the deadline for banks to finalize their regularization for participation in this market.

FRA Decree No. 232 of 2024 mandated the creation of a (register/record) for non-primary dealer banks to trade government securities and financial instruments in the secondary market. This register includes all entities qualified for such trading, encompassing primary dealer banks, non-primary dealer banks, FRA-licensed bond dealers, brokers and intermediaries, as well as FRA-licensed investment funds and portfolio management companies.