الهيئة العامة للرقابة المالية

Approvals issued for Al Ahly Pharos, Arab African, and SAFE Fund

FRA’s Incorporation and Licensing Committee grants license to two companies to conduct Futures Contracts Brokerage and a third company to operate as a Real Estate Investment Fund.

The Committee granted its approval to Arab African International Securities (AAIS) and Al Ahly Pharos Securities to practice Futures Contracts Brokerage activities.

Additionally, the Committee approved licensing of SAFE Real Estate Investment Fund to conduct activities as a specialized real estate investment vehicle.

In accordance with FRA Chairman Decree No. 3060 of 2023, Incorporation and Licensing Committee serves as the competent body responsible for approving the incorporation and licensing of companies operating within the non-banking financial sector.

The Committee’s jurisdiction extends to ratifying amendments to company’s statutes and endorsing employee incentive and motivation schemes. Beyond corporate governance, it serves a critical supervisory function by advising on the suspension of General Assembly resolutions within the securities and consumer finance sectors.

Beyond initial licensing, the Committee reviews requests to add new financial services or business mechanisms. It also manages the process for securities and consumer finance companies when they switch from one legal framework to another.

Furthermore, the Committee oversees the full operational lifecycle of regulated firms – from authorizing branch networks to managing liquidations, activity suspensions, and the professional registration of founding agents.