Aggregated News From Investment Management Regulators

FRA EG

The Prime Minister is following up efforts to promote more investments to the capital market

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content in its original language here. Dr. Mohamed Farid, Chairman of the Board of Directors of the Financial Regulatory Authority: We adopt and implement a strategy to raise the level of efficiency and competitiveness of non-banking financial markets to enhance their role in economic growth The non-banking financial sector plays a pivotal role in enhancing the levels of savings, investment and financing necessary to achieve the goals of economic and social development Financial supervision works to develop...

Reconfiguration of grievance committees in accordance with the provisions of the laws regulating non-banking financial activities

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content in its original language here. Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority: Speedy resolution of grievances contributes to efforts to improve the business environment within the non-banking financial sector to support economic growth Formation of grievance committees headed by one of the deputies of the President of the State Council and the membership of two advisers to the State Council, chosen by the Council Grievance committees are one of the mechanisms to enhance levels...

FRA participates in launching the first entity to invest in projects that issue carbon certificates to support achieving zero carbon neutrality

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content in its original language here. Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority: * Launch of EgyCop provides financing to help companies transition to a green economy and supports achieving zero carbon neutrality * Financial oversight provides an enabling environment to support transitions to a green economy and the consideration of carbon certificates as a security Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority, witnessed the launch of the first Egyptian entity to invest in projects that issue carbon...

The Chief Financial Controller delivers a speech at the session “Impacting Investment – Private Sector and Climate Finance and its Role in Achieving the...

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content in its original language here. Dr. Mohamed Farid, Chairman of the Board of Directors of the Financial Regulatory Authority: The private sector is an essential pillar in achieving the goals of sustainable development and climate targets Impactful investment takes into account the social, environmental and climatic dimensions and contributes to changing reality for the better Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority, participated in a discussion session entitled “Impact Investment - The Position of the Private Sector...

The Egyptian Center for Optional Arbitration and Settlement of Non-Banking Financial Disputes launches its new website

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content in its original language here. The website allows customers to register an arbitration and mediation request and be registered in the lists of arbitrators and mediators electronically The Center seeks to provide effective and credible justice to the litigating parties and to enhance confidence in non-banking financial markets The Arbitration and Dispute Settlement Center supports the capabilities of the non-banking financial sector in enhancing the protection of customers and avoiding harming their rights The Egyptian Center...

The Chief Financial Controller participates in the session “The Role of Stock Exchanges in Creating a World Without Carbon Emissions” at the COP 27...

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content in its original language here. Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority : Stock markets are able to play a pivotal role in addressing the climate crisis by mobilizing and making financing available   Financial market regulators provide appropriate standards to achieve integrity, transparency and efficiency for trading mechanisms that contribute to reducing emissions. In continuation of the series of sessions and workshops in which the General Authority for Financial Supervision participates during the activities of the COP27 Climate...

The FRA agrees to extend the deadline granted to Banque du Caire to complete the offering procedures on the stock exchange until the end...

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content in its original language here. Today, Wednesday, the Financial Supervisory Authority approved Banque du Caire’s request to extend the deadline for finalizing the procedures for listing the bank’s shares on the Egyptian Stock Exchange, to end on 3/31/2023. The approval comes in light of the bank’s request to approve the Authority in order to activate the recent amendments approved by the Board of Directors of the Financial Regulatory Authority at the end of last August, which authorized...

The Financial Control Authority issues a decision to enhance the protection of customer accounts and the disbursement of profits

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content in its original language here. Allowing brokerage firms, creating and managing portfolios, and custodians to use technological techniques to open accounts for their clients The amendments oblige companies to verify the identity of customers and not to violate the rules of combating money laundering and terrorist financing Allowing joint-stock companies and partnerships limited by shares to deposit their shareholders' shares with the Central Depository Company with an official power of attorney Allowing centrally deposited companies...

Egypt launches the first African voluntary market for the issuance and trading of carbon certificates

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content in its original language here. The new market enhances the capabilities of the African continent in achieving climate targets in accordance with international standards Issuing and trading carbon certificates enables the African private sector to contribute to achieving carbon neutrality and access to innovative development financing solutions Dr. Mostafa Madbouly, Prime Minister: The government pledges to provide all aspects of support and aid to achieve the goals of the voluntary African carbon market Dr. Hala Al-Said,...

Head of Financial Supervision and Mohieddin witness the signing of an agreement between Al Borsa Holding Company for Capital Markets Development, the Agricultural Bank...

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content in its original language here. Dr.. Mohieldin: Europe is the best in terms of carbon markets, and China has benefited from it and adapted it to its needs, and we are seeking market activity in Africa and Egypt  Dr.. Farid: Mitigation and adaptation are necessary to achieve carbon neutrality and the development of the carbon market provides financing solutions for companies to reduce emissions  Al-Dukani: We aim to establish a leading regional and African company to stimulate...

The FRA approves the first program to issue future cash flow securitization bonds in Egypt

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content in its original language here. 2 billion pounds, the value of the future cash flow securitization program for the Cairo Investment and Development Company The program includes an issuance of 800 million pounds and 3 tranches for a period of 7 years, which was covered more than once by several banks and financial institutions Dr. Mohamed Farid, Head of Financial Supervision: Securitization of future cash flows helps public and private entities to access the financing...

FRA approves additional amendments to the registration rules to facilitate procedures in implementation of the recommendations of the Economic Conference

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content in its original language here. Facilitate the procedures and requirements for the acquisition of listed companies over non-listed companies Issuance of rules regulating the use of electronic systems in the voting process and the organization of general assemblies for listed companies Leave to combine the positions of the Chairman and CEO of the listed companies according to the justifications provided by the company and accepted by the Authority Allowing the registration of large-sized newly established companies temporarily, provided that...

Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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