الهيئة العامة للرقابة المالية

• These approvals include Bokra Funds, Telda Securities Brokerage, Trend Holding and True Finance Lease.

FRA Committee for Establishing and Licensing Companies granted approval for Bokra Funds to establish two new investment vehicles: Bokra Real Estate Investment Fund and Bokra Metals Investment Fund. Additionally, Telda Securities Brokerage obtained an approval to receive subscriptions in investment fund certificates.

The Committee further approved licensing of Trend Holding Company to participate in the establishment or capital increase of companies issuing securities. Also, True Finance Lease received approval to incorporate factoring activity into its original corporate purpose.

As the designated body under FRA Chairman’s resolution No. 3060 of 2023, this Committee is responsible for a broad mandate that extends beyond initial licensing.

Its powers encompass approving the establishment and licensing of new non-bank financial companies, along with sanctioning requests for additional activities and mechanisms for existing firms.

The Committee also oversees changes in legal frameworks for companies in securities and consumer finance, approves amendments to articles of association (both preliminary and final) and ratifies incentive and reward schemes.

Furthermore, it provides opinions on suspending General Assembly resolutions for securities and consumer finance companies, approves the opening, re-location and closure of branches and processes requests for liquidation, temporary or voluntary suspension of activities. Finally, the Committee is responsible for the registration, renewal and delisting of founding agents for non-bank financial companies.