الهيئة العامة للرقابة المالية

• The approval included a brokerage firm and several banks ( Suez Canal Bank, Agricultural Bank of Egypt , Faisal Islamic Bank of Egypt , MidBank , Crédit Agricole , Citibank , Attijariwafa Bank , Al Baraka Bank , Banque du Caire , Arab Bank)
• Establishment and Licensing Committee has approved establishing and licensing of four new companies. These companies will engage in activities such as : Portfolio formation and management , Promotion and underwriting and Investment funds.
• Newly approved companies are: Thndr Securities Brokerage, Misr Financial Investments ,Al Gosour Holding for Financial Investments and BAM Asset Management

FRA Committee for Establishing and Licensing Companies has approved 11 institutions – comprising 10 banks and a brokerage firm – to regularize their status and register with the Authority. This registration allows them to actively trade in government securities and financial instruments within the secondary market.

The newly approved entities include a diverse group of financial institutions , namely : Agricultural Bank of Egypt , Faisal Islamic Bank of Egypt , Suez Canal Bank , Banque du Caire , Crédit Agricole , Citibank N.A. Egypt , Attijariwafa Bank , Arab Bank , MidBank , Al Baraka Bank-Egypt  and Al Ahly Pharos Securities Brokerage Company.

This move comes as a direct implementation of FRA Board of Directors’ decree No. (232) of 2024, which governs the approval process for secondary market trading in government securities and financial instruments. It also follows FRA Chairman’s decree No. (394) of 2025, which extended the deadline for institutions to regularize their positions in this market.

FRA views this step as crucial to its ongoing efforts to regulate and develop Egypt’s non-bank financial markets. A primary goal is to maintain stability and integrity in these markets, especially the secondary market for government debt instruments. By expanding the base of participants, FRA aims to increase financial inclusion, allow more entities and ultimately, more individuals and businesses, to benefit from non-bank financial services.

In accordance with FRA Decree No. 232 of 2024, a dedicated registry was mandated for non-primary dealer banks seeking to operate in this secondary market. This consolidated registry now incorporates all eligible entities, including those classified as primary dealer banks, other qualified banking institutions, licensed bond dealing, brokerage, and intermediation companies, and entities specializing in investment fund activities, encompassing both formation and management of securities portfolios and investment funds.

Within the same context, FRA Committee for Establishing and Licensing Companies recently approved several new licenses for non-bank financial activities, demonstrating a continued effort to develop Egypt’s financial sector. These approvals include BAM Asset Management which received a license for portfolio formation and management; as well as  Thndr Securities Brokerage which obtain a license for securities promotion and underwriting; Misr Financial Investments which obtained a license for direct investment fund activities; and the establishment of Al Gosour Holding for Financial Investments.

As the designated body under FRA Chairman’s Decree 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, relocation 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.