The newly issued approvals include a licence for Emtelak Real Estate Projects Fund Company to operate a real estate investment fund, supporting the diversification of property-related investment products and providing investors with access to specialised investment instruments.
Egypt’s Financial Regulatory Authority (FRA) has granted 11 companies approvals to conduct a range of non-banking financial activities, including collecting receivables on behalf of financing companies and entities under the regulator’s supervision.
The newly issued approvals include a licence for Emtelak Real Estate Projects Fund Company to operate a real estate investment fund, supporting the diversification of property-related investment products and providing investors with access to specialised investment instruments.
The FRA also approved the registration of Zain Inquiry and Collection, Al-Riyada, SAZ, and Abu Shadi in its register of companies authorised to collect receivables on behalf of non-banking financial institutions. This brings the total number of registered collection companies to eight, strengthening the regulatory and supervisory framework governing activities linked to the non-banking financial sector.
In the healthcare programme management segment, the FRA granted temporary licences to Misr Healthcare Network and S One Medical Services. The total number of temporary licences issued for this activity has now risen to 11.
The regulator also approved the establishment of Tafra Investment Group, a special-purpose acquisition company (SPAC), to operate in acquisition-focused venture capital. Spark SPAC was also licensed to conduct the same activity, helping diversify investment opportunities and stimulate market activity.
Other approvals included the establishment of Morooj Agricultural Investment Fund, a multi-issuance private equity fund, and Mid Mark, a reinsurance brokerage company.
The FRA grants these approvals as part of its constitutional and legal mandate to regulate and supervise non-banking financial markets and instruments. These include capital markets, futures exchanges, insurance, mortgage finance, financial leasing, factoring, and securitisation, as well as the establishment and licensing of companies operating in these sectors.
Establishment and licensing decisions are issued based on recommendations from the FRA’s Committee for the Establishment and Licensing of Companies and Their Branches. The committee reviews and grants preliminary and final approvals, assesses applications to add activities and operating mechanisms, and considers requests to open, close, or relocate branches.
Its responsibilities also include reviewing amendments to companies’ articles of association, approving employee reward and incentive schemes and their amendments, considering changes to the legal framework governing companies operating in securities and consumer finance, and examining applications for liquidation or the voluntary temporary suspension of activities.
