The Authority approves the establishment and licensing of entities and activities under its supervision after 24 hours from submitting the required documents
For the first time since the issuance of Law No. 95 of 1992, the Financial Regulatory Authority approves the issuance of shares and the establishment of 8 holding companies which participate in the establishment of companies that issue securities or contribute to capital increase.
Within the framework of the Authority’s keenness to finalize the procedures as soon as possible, the Committee for Establishing and Licensing Companies and its subsidiaries approved the issuance of shares and the establishment of 8 holding companies as well as licensing one of the brokerage companies to use sell/buy back transactions and squaring off the trade. Also, the committee approved listing, transfer and closure of some brokerage companies. In addition, a license has been issued for a company to engage in venture capital activity. FRA’s Chairman approved the Committee’s decisions and issued executive decisions in this regard.