الهيئة العامة للرقابة المالية

• The approvals were issued to Imtilak Real Estate and Fawry Holding.

FRA Committee for Establishing and Licensing Companies has formally approved the establishment of two new entities. These companies are licensed to operate in Real Estate Funds and participate in the formation of companies that issue securities or in the increase of their capital.

The approvals were granted to Imtilak Fund for Real Estate Projects. This company’s core operational purpose is to engage in Real Estate Investment Fund activity. In addition to Fawry Holding for Financial Investments. This company’s mandate is to participate in the formation of companies that issue securities or in the increase of their capital.

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 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.

Additionally, the Committee 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.