الهيئة العامة للرقابة المالية

• Number of registered debt collection firms rises to 12 in the non-banking finance sector

Financial Regulatory Authority (FRA), chaired by Dr. Islam Azzam, has granted approvals to seven companies and entities for incorporation, registration, and licensing across various segments of capital market and non-banking finance sector. Issued under FRA’s mandate to regulate and supervise non-banking financial markets, these decisions aim to expand market capacity, deepen liquidity and foster ecosystem growth.

As part of the capital market developments, Cheria Securities Promotion and Underwriting was approved for incorporation under Law No. 95 of 1992 to conduct promotion and underwriting services.

Regarding capital market licensing, the Authority approved granting e-finance Financial Services a license to engage in participating in the incorporation of companies issuing securities or in their capital increases. Additionally, Golden Way Securities Brokerage & Bonds was licensed to conduct bond trading, dealing and brokerage activities, added to the company’s licensed scope of business.

Furthermore, Olive Egypt Holding was granted a license to participate in incorporating securities-issuing companies or participating in their capital increases. Concurrently, Business Community received licensing to manage investment portfolios and investment funds, both added to its corporate scope of activities.

In the non-bank financing sector, FRA granted preliminary approval to Fawry Consumer Finance to add factoring to its corporate purpose. The company will complete the necessary procedures with the General Authority for Investment and Free Zones (GAFI) to amend Articles (2) and (3) of its Articles of Association. Then, it shall submit the required documentation to FRA for its final operating license, and update its corporate name in line with the added activity, in compliance with Law No. 159 of 1981 and its executive regulations.

Lastly, the Authority approved enrolling Sympl FinTech in  Debt Collection Registry. This brings the total number of firms registered in debt collection activity to 12 since the issuance of FRA Board Decision No. (278) of 2025.

These approvals fall within the constitutional and legal mandate of the FRA to regulate and supervise non-banking financial markets and instruments. This encompasses capital markets, futures exchanges, insurance activities, mortgage finance, leasing, factoring, securitization, consumer finance, and other activities, alongside its mandate to approve the establishment and licensing of companies operating in these markets.

Incorporation, licensing and activity-related approvals are issued based on recommendations from Incorporation and Licensing Committee. This committee is tasked with reviewing and issuing initial and final approvals for companies, requests to add activities and mechanisms, opening, closing, and relocating branches, reviewing amendments to statutes, adopting incentive systems and amendments, changing the legislative framework for companies operating in securities and consumer finance, and examining liquidation requests or voluntary temporary suspension of activity.