الهيئة العامة للرقابة المالية

• Approvals were issued for Saqr Real Estate Investment Fund, Nawy Shares Real Estate Investment Fund, Qardy for Medium and Small Enterprise Financing, Al-Ahly Capital Microfinance Company “Al-Ahly Tamkeen” and Erada Microfinance.
• Establishment and Licensing Committee approved the registration of the National Bank of Egypt (NBE) and QNB for in FRA’s official registry, allowing both banks to trade in government securities and instruments on the secondary market.

FRA Establishment and Licensing Committee, has announced a series of significant approvals. These decisions include the establishment of five new companies, namely Saqr Real Estate Investment Fund, Nawy Shares Real Estate Investment Fund, Saqr for Real Estate IPO Promotion and Fund Management, Nawy Shares for Real Estate IPO Promotion and Fund Management and Qardy for Medium and Small Enterprise Financing.

In addition, the Committee granted approval for Ahly Capital for Microfinance (“Tamkeen”) to expand its licensed activities to include micro leasing, and for Erada for Microfinance to add medium and small enterprise financing to its business scope.

The committee also approved the regularization of the status of the National Bank of Egypt (NBE) and QNB for registration in FRA’s official registry, allowing both banks to trade in government securities and instruments on the secondary market.

In accordance with FRA Chairman Decree No. 3060 of 2023, the Establishment and Licensing Committee is charged with the approval of company’s establishment and licensing within the non-banking financial sector.

The Committee’s mandate also encompasses approving requests for adding new activities and operational mechanisms for non-banking financial companies. It further extends to managing changes to their legal framework, including their inclusion in or exclusion from laws governing securities and consumer finance companies.

Moreover, the Committee amends the Articles of Association of supervised companies, granting preliminary or final approvals. It also sanctions incentive and motivation schemes and their subsequent modifications, and advises on suspending general assembly resolutions for securities and consumer finance companies.

Beyond these, the Committee approves the opening, relocation, and closure of branches for non-banking financial companies. It also sanctions requests for liquidation, temporary, or voluntary cessation of activities. Finally, the Committee manages the registration, renewal and delisting of founding agents for companies engaged in non-banking financial activities