Latest in Tag: Egyptian Financial Supervisory Authority Highlight
Latest in Tag: Egyptian Financial Supervisory Authority
Executive regulations grant charitable funds freedom to invest in different schemes: EFSA Chairman
Chairman of the Egyptian Financial Supervisory Authority (EFSA) Sherif Samy said the amendments on the executive regulations of the capital market, which are expected to be approved by the parliament, will enable charitable funds to invest freely without adhering to specific investment schemes. The cash funds will have the right to invest in stocks, deposits, …
State Council to discuss amendments to Capital Market Law
The EFSA announced on 19 August the approval of the Economic Legislation Committee of the Supreme Committee for Legislative Reform of the proposed amendments to the Capital Market Law, with only a few comments on the draft.
Government failing on use of funds: EFSA chairman
More bonds could be issued to finance mega projects, says Sherif Samy
EFSA preparing 1st real estate financing federation elections
The Egyptian Financial Supervisory Authority (EFSA) is participating in the âMortgage Development Partnersâ conference, taking place on 12 May, as part of the âPartnership for Developmentâ initiative. The conference targets community dialogue involving all professional sectors interested in mortgage activities and benefiting from it. It will discuss the opportunities and challenges facing the mortgage system …
Administrative Court rules favourably for Sinai companiesâ EGX listing
EFSA expresses surprise at decision taken without GAFI approval
No EFSA legal action against former trade minister
Rachid Mohamed Rachid has account in HSBC worth $31m illegally
Investment funds assets increased by EGP 851m in 2014
Head of the Egyptian Financial Supervisory Authority (EFSA) Sherif Sami said on Thursday that four investment funds have been established in 2014; therefore the total amount of investment funds in Egypt is 95. The total amount of cash in these funds was valued at EGP 6.5bn by the end of 2014, increasing by EGP 851m …
Palm Hills to issue over 8m shares on bourse to increase capital
Real estate firm aims to increase their capital from EGP 3.5bn to EGP 6bn
Companiesâs micro-financing face new regulations: EFSA head
Resolution determined companiesâ promulgated capital is not less than EGP 15m, paid-up capital not less than 50% of minimum rate of doubtful debts
New bid to acquire Arab Dairy offered, EFSA announces
Al-Nour Company for Dairy Product offers EGP 58 per share
Insurance sector assets currently valued at EGP 55bn: EFSA
The insurance sector contributed EGP 48.5bn to the national economy during the current year
EGP 100,000 microfinance limit subject to 5% increase: EFSA chairman
Microfinance law is most important economic legislation issued since January 2011, claims Sherif Samy
56% Bisco Misr stakeholders agree to sell Abraaj Group shares
Abraaj Group originally wanted to acquire at least 51% stake of Bisco Misr shares as per July announcement
Mortgage finance down 17.1% year on year in first half of 2014
The effect of the CBE mortgage finance initiative to finance low-income housing projects will be felt in the second half of the year, says Cairo University professor
Credit Agricole studying demand for real estate funds: Bank official
The head of the Credit Agricole Treasury said that the bank will cover any government proposals for international bonds in a commentary on the governmentâs intention to put up bonds worth $750m in the near future.
Tourism Assistance Fund aiming for 25% annual returns: Investment manager
Egyptâs Tourism Assistance Fund is looking for annual returns of 25% on investments, or $250m in the first phase of underwriting, according to Amr Askar, investment manager at Cairo Financial Holding. The first phase will take place directly after the Egyptian Financial Supervisory Authority (EFSA) adopts the prospectus. Askar added in a statement to Al-Borsa …
EFSA requests further clarification in Hermes bid
Hermes appoints financial advisor to assess share value in Sawiris purchase offer, financial oversight body asks for clarifications
Egyptâs financial regulator signs information-sharing agreement with Dubai counterpart
Agreement aims to enhance cooperation between the two authorities
Egypt outlook: The struggle between a pessimistic present and an optimistic future
By Ahmed Abou El Saad and Eric Swats The Egyptian economy Since 2011, Egypt has been hit hard by both ongoing political volatility and social unrest. Four key economic indicators have underscored this reeling economy: an increase in T-Bill rates, a decrease in Net International Reserves, the depreciation of the Egyptian pound (EGP) and a …
Egyptâs economy needs mutual funds: EGX chairman
Mutual funds will help boost economic growth, Omran says
Cabinet expands access to mortgage assistance
The government amended the Real Estate Finance law to expand eligibility for mortgage subsidies and increase grants to low-income families
EFSA organises first training programme for private insurance funds
Three-day programme aims to deepen the awareness of risk management, accounting standards, investment policies, actuarial reports and financial solvency standards of private funds
New agreement to facilitate Egyptâs mortgage finance signed
The agreement applies to mortgage companies that fund individuals who are willing to purchase or construct properties in new cities affiliated with the New Urban Communities Authority.
EFSA reintroduces same day EGX settlements from 23 May
T+0 more like gambling than trading, says one expert
Logistics Special: Egypt Customs Agency cooperates with port officers to improve facilities
A joint committee between the Customs Duty Officers Union in Alexandria and the cityâs Customs Department will meet with EFSA within the next several days.
EFSA warns of use of sukuk for money laundering
The president of EFSA called for the current sukuk law to be amended, as it does not adequately punish those who would launder money using sukuk
Qatar National Bank buys 100% of NSGB
EFSA has approved QNBâs offer of EGP 38.65 per share for 100% of NSGBâs shares
The 7th International Takaful Summit in Egypt
Egypt hosting the summit reflects confidence in the countryâs economic future, said keynote speaker and minister of finance, Al-Morsi Hegazy
Sukuk draft law released
The sovereign sukuk law released by the government is intended to organise the financing of the government, state budget, national projects and public institutions.
EFSA finalises new sukuk law
Draft law only regulates sukuk issued by companies and legal persons