الهيئة العامة للرقابة المالية

FRA Prohibits Real Estate Finance and Leasing Companies from Engaging with Unregistered Appraisers – Tuesday 29 July 2025

FRA has issued Circular No. 4 of 2025, to bolster the integrity of real estate valuations within the non-banking financial sector. The new rule strictly prohibits real estate finance and financial leasing companies from engaging with any real estate appraisers not officially registered and approved by FRA. This applies to both individual appraisers and valuation firms. FRA emphasizes that any violation of this circular will be considered a direct breach of regulations, leading to accountability.

The circular defines a real estate appraiser as any individual or legal entity responsible for assessing property values for real estate finance purposes. It also mandates full compliance with the Egyptian Valuation Standards (EVS), set by FRA Board of Directors resolution No. (39) of 2015, in all valuation processes.

Furthermore, FRA has made it clear that valuation reports from unregistered entities will be considered null and void and cannot be used for any financial or financing transactions. Non-compliance with these instructions is a direct violation of the Real Estate Finance Law No. (148) of 2001 and its amendments, exposing infringing companies to legal and regulatory action.

This directive reinforces FRA’s crucial role in regulating non-banking financial activities, as outlined in Articles No. (3) and (4) of Law No. (10) of 2009 concerning the regulation of non-banking financial markets and instruments.

This action directly addresses non-compliant practices identified by the Authority. FRA observed some real estate finance and financial leasing companies conducting business with appraisal entities and individuals not officially listed at real estate appraisers’ registry.

FRA Grants Licenses to Four Companies in Non-Banking Finance and Investment Fund Activities – Tuesday 29 July 2025

• Approvals were granted to Al Ahli Kuwait – Egypt Leasing, IFS Financial Solutions, Aspire Capital Holding and AUR Real Estate Finance.
• The Establishment and Licensing Committee also approved the registration of Arab African International Bank and Alex Bank as traders in government securities and financial instruments in the secondary market.

FRA Committee for Establishing and Licensing has approved new licenses and expanded activities for several financial companies. Al Ahli Kuwait – Egypt Leasing can now include factoring in its services, while IFS Financial Solutions will add financial leasing to its existing factoring operations. Aspire Capital Holding for Financial Investments is now licensed to manage investment funds, either independently or with partners. AUR Real Estate Finance has also received approval to start its activities. Additionally, the Committee approved the registration of Arab African International Bank and Alex Bank at FRA registry, allowing them to trade in government securities and financial instruments within the secondary market.

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.

Tax Authority’s E-commerce Unit Participates in FRA Fintech Forum Wednesday 23 July 2025

The Egyptian Tax Authority’s E-commerce Unit recently took part in FRA Fintech Forum 2025, an event organized by the Financial Regulatory Authority (FRA). This participation aligns with FRA’s strategic goals to foster partnerships, engage market stakeholders, and understand the challenges and opportunities within the digital and fintech sectors, all aimed at bolstering the national economy.

Minister of Finance, Ahmed Kouchouk, delivered the forum’s opening address. He highlighted the Ministry’s and the Tax Authority’s drive to accelerate digital transformation and elevate tax services, especially for startups and e-commerce businesses. Kouchouk reiterated the government’s dedication to create an innovation-friendly environment through a range of tax incentives and facilitations.

Kouchouk explained that the E-commerce Unit’s participation aligns with Egypt’s broader push to enhance financial and tax inclusion and activate collaborations with key players in the digital economy.

The Unit’s booth at the forum was a hub for engaging discussions with fintech innovators. Tax Authority representatives addressed numerous inquiries, providing clarity on simplified tax compliance, electronic registration procedures and the facilitations available for both local and international startups and digital platforms. The team offered essential technical and awareness support, aiming to boost tax literacy and seamlessly integrate state initiatives with market demands.