الهيئة العامة للرقابة المالية

New licenses include Egypt’s second credit rating agency, first specialized medical insurance firm … expanding the number of derivatives brokerages to eight.

Financial Regulatory Authority (FRA), chaired by Dr. Islam Azzam, has issued 10 new licenses for various non-banking financial activities. The move is part of the Authority’s ongoing efforts to elevate the quality and competitiveness of the sectors under its oversight, boost their investment attractiveness and expand public access to diverse financial services.

FRA licensed the “International Company for Credit Rating Solutions” to provide securities evaluation, rating and ranking service. This makes it the second operational credit rating agency in the Egyptian market, and the first to be licensed under FRA resolution No. 178 of 2025 which set comparative criteria for rating agency licenses.

Additionally, FRA approved licenses for two new firms to operate in futures brokerage: “Sigma Securities Brokerage” and “Aspire Securities and Bonds Brokerage.” This brings the total number of companies licensed to operate in this sector to eight since the launch of derivatives market on the Egyptian Exchange (EGX).

On the other hand, FRA granted a temporary license to “MedRight Health Solutions” to practice specialized medical insurance, making it the first company to receive a temporary license in this field under the Unified Insurance Law No. 155 of 2024 and FRA resolution  No. 90 of 2025. A temporary license was also granted to “NextCare” to manage healthcare programs. This increases the total number of companies operating in this activity under temporary licenses to eight since the enactment of the Unified Insurance Law.

Furthermore, FRA licensed “Co-Wealth Fund Company” to operate as a real estate investment fund. Additionally, “Co-Wealth” was granted a license for securities promotion, underwriting and real estate investment fund management. The Authority also licensed “Thndr for Real Estate Asset Investment” to operate as a real estate investment fund.

Also, “CIB Finance” was granted a license to practice financial leasing as an expansion of its corporate purpose, provided it adheres to standard leasing contract templates approved by FRA. Furthermore, “Halan Non-Banking Finance Services” received licenses to practice both real estate finance and factoring.

FRA issues these approvals in accordance with its constitutional and legal mandate to regulate and supervise non-banking financial markets and instruments. This includes capital markets, futures exchanges, insurance activities, real estate finance, financial leasing, factoring, and securitization, alongside its authority to approve the establishment and licensing of companies operating within these sectors.