Aggregated News From Investment Management Regulators

Extending the period set for regularizing the status of leasing and factoring companies for another six months

Report/Flag

Please complete the required fields.



• Dr. Omran: 28 leasing companies and 8 factoring companies regularize their status

Dr. Mohammed Omran- FRA’s Chairman revealed that the number of leasing companies that regularized their status has reached 28 leasing companies out of 35 active companies in the last five years, in addition to other eight factoring companies out of 9 licensed companies which regularized their status.

This comes in the light of FRA’s BOD decision no. 137 of 2018 regarding the controls and conditions required to regularize the status of current leasing and factoring companies after the issuance of Law no. 176 of 2018 – mid-August last – on regulating leasing and factoring activities. The said Law stipulated in article 1 that existing companies shall be granted a period of another six months to regularize their status.

Dr. Omran explained that FRA’s BOD approved in its decision no. 6 of 2019 extending the period set for regularizing the status of leasing and factoring companies for another six months starting from 14 February 2019. He added that those companies wishing to regularize their status shall submit a program with a time plan for the procedures that will be taken by the company to regularize its status before 31 March 2019.
 

Source link

Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

Recent Articles

SEC Charges Man for Defrauding Investors out of Millions of Dollars by Posing as Hedge Fund Billionaire

Defendant presented himself as a special forces veteran and Harvard grad to gain investor trust Washington D.C., Sept.

SEC Monitoring Impact of Hurricanes Ian and Fiona on Capital Markets

Washington D.C., Sept. 29, 2022 — SEC Chair Gary Gensler has directed the staff to carefully monitor developments as a result of Hurricanes Ian and Fiona.

PLATINUM INVESTMENTS

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

Get the latest from Regulatory.News in your inbox!

×