Financial regulation backs entrepreneurship, says Egypt’s FRA Chairperson
The Financial Regulatory Authority (FRA) is actively supporting entrepreneurship in Egypt through regulatory changes designed to foster growth in the non-banking financial sector, Chairperson Mohamed Farid announced at an event Tuesday. The announcement was made during a meeting hosted by
Corporate, institutional financing for MSMEs jumps to EGP 71.3bn in September 2024
Corporate and institutional financing for Micro, Small, and Medium Enterprises (MSMEs) totaled EGP 71.321bn for 3.759 million customers in September 2024, up from EGP 49.653bn for 3.824 million customers in September 2023. The Financial Regulatory Authority (FRA) reported that the
NUCA issues securitization bonds exceeding EGP 40bn: FRA chief
Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), has highlighted the importance of securitization mechanisms for real estate companies, citing the New Urban Communities Authority (NUCA) as an example. He revealed that NUCA had issued securitization bonds exceeding EGP
FRA establishes quality, qehavioral standards for registered auditors
The Financial Regulatgory Authority (FRA), chaired by Mohamed Farid, issued Resolution No. 174 and 175 of 2024 regarding the development of quality and behavioral rules for the work of auditors registered in the Authority’s records. This is within the framework
Qualified entities for NBFC licences must have data protection systems: FRA
Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), and Ibrahim Sarhan, Chairperson of e-finance, have participated in a panel discussion at the 28th Cairo International Exhibition for Communications and Information Technology (Cairo ICT). Farid said that the Authority
FRA-supervised entities offer EGP 51.5bn finance until August 2024
The Financial Regulatory Authority (FRA) has revealed that the organizations subject to its supervision, including capital market and non-banking financing entities, had injected financing worth EGP 51.5bn until August 2024. The Authority said the financing was divided into EGP
FRA continues formulating necessary policies to enhance efficiency, competitiveness of insurance sector: Farid
Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), delivered the keynote speech at the sixth annual Insurance and Reinsurance Forum in Sharm El-Sheikh, organized by the Insurance Federation of Egypt, under the title “A Future Vision for Developing the
FRA promotes green financing to boost investment in eco-friendly projects: Farid
Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), Vice Chair of the International Organization of Securities Commissions (IOSCO), and Chair of its Growth and Emerging Markets Committee (GEMC), began his visit to Madrid, Spain, to participate in IOSCO’s Board
Tadamun Microfinance, EBank sign EGP 50m worth of credit facility
Tadamun Microfinance Foundation, which finances women’s micro-enterprises, announced signing a EGP 50m credit facility with the Export Development Bank of Egypt (EBank). The aim is to meet the needs of the women-led micro-enterprise sector, facilitate access to the necessary financing,
FRA, Youth Ministry sign protocol to ensure optimal use of funding for MSMEs
The Financial Regulatory Authority (FRA) has signed a cooperation protocol with the Ministry of Youth and Sports to oversee the effective use of funding provided to small, medium, and micro-enterprises (SMEs). The signing ceremony also marked the launch of Egypt’s