The Financial Regulatory Authority (FRA) has approved a license for Standard Chartered Bank to operate as a custodian in Egypt.

 This approval aligns with Law No. 93 of 2000 on Securities Central Depository and Registration, along with its amended regulations under Law No. 143 of 2020 and FRA Chairman’s, Mohamed Farid, Resolution No. 7 of 2002.

The FRA continues to develop policies, issue regulations, and create frameworks to ensure the stability of non-banking financial markets and institutions while fostering market growth and protecting all participants’ rights.

 Through ongoing analysis of the non-banking financial sector’s needs, the FRA aims to create a favorable environment for both individual and corporate investors, providing a broad range of investment, insurance, and financing services.

 This approach supports companies in diversifying their funding sources to strengthen their business development and financial performance, aligning with global best practices and Egypt’s comprehensive sustainable development goals.

 This effort ultimately enhances the competitiveness of Egypt's non-banking financial sector, attracting increased local and international investments and enabling global institutions to operate from within Egypt.