Latest in Tag: FRA Highlight
Latest in Tag: FRA
FRA amends controls of microfinance, SME finance
The FRA noted that some companies, associations and civil institutions licensed to engage in financing activities for small, medium-sized and micro enterprises provide supplementary financing to their clients, so that the recipient of financing can obtain new financing before the completion of the original payment period for the same type of existing financing. In a way that allows the customer to replace, in whole or in part, what was previously paid in the financing account, by providing him with new financing under different names, whether with the same value paid or others, without taking into account technical considerations necessary for the safety of granting financing.
FRA makes amendments to mortgage finance rules to increase beneficiaries
Authority increases installment to 50% of total income: Omran
FRA seeks to develop non-banking financial activities to offer innovative investment products
Farid’s remarks came during his participation in the Cairo ICT 2022 conference on Monday.
Non-banking sector provides EGP 396bn in funding during 2022: FRA
Launch of derivatives market will soon be completed, says Farid
FRA meets with legal advisors to discuss regulations for new types of debt instruments
Discussions over new regulatory framework for sustainability, social, environmental, gender bonds
FRA issues future flow securitisation regulations, in preparation for CIRA’s EGP 2bn offering
Bonds enable public entities to provide the necessary liquidity: Farid
FRA approves three issuances of securitisation bonds worth EGP 23bn
The recent period has witnessed an increase in the demand of public economic entities in various activities to diversify the sources of funding for their expansions to raise the efficiency of their operations.
FRA hosts joint training programme of the IOSCO
The programme aims to build the capacity and requirements for disclosure of sustainable financing in accordance with international sustainability standards
FRA works to maximise the role of risk departments in brokerage firms to support market stability
The authority is adopting an integrated framework to activate the role of risk managers to protect customers
FRA organises programme to qualify companies to disclose financial effects of climate change ahead of COP27
This comes in line with the trends of the Egyptian state preparing to host the UN Conference of Parties on Climate Change (COP27) in Sharm El-Sheikh this November.
FRA agrees to issue ‘mudaraba sukuk’ worth EGP 2bn
The new sukuk diversifies financing solutions, investment products: FRA
Total of EGP 2.5bn paid in insurance from April to June 2022: FRA
Mohamed Farid, Chairperson of the FRA, issued periodic report No. 6 of 2022, regarding the re-evaluation of the values of insured assets and the amounts of insurance compared to their market values, in a manner that preserves the rights of policyholders and their beneficiaries.
Emigration Ministry, FRA discuss opportunities to increase investments of Egyptian expats
The two sides discussed cooperating in creating investment opportunities for Egyptian expats in their homeland in a number of areas that are commensurate with their interests and the ministry’s strategy, while discussing how to motivate them to increase their investment participation.
FRA directs expediting the launch of a settlement mechanism for future contracts
He added that the FRA is also making fundamental amendments to the rules of listing and delisting in the Egyptian Exchange (EGX), which were sent for publication in the official gazette and applied from the date of publication.
Tourism Ministry, FRA explore growth opportunities of travel sector through non-banking financial activities
Ministry plans to develop cooperation mechanisms with FRA to support competitive capabilities of tourism sector companies
FRA proposes amendments to Capital Market Law to trade carbon emissions reduction certificates
One such instrument are carbon certificates, which the FRA set the legislative framework for to regulate its trading after the large increase in the volume of trading on this type of certificates in global markets.
FRA issues first license for Islamic microfinance activity
3.8 million citizens so far benefited from micro-enterprise financing services in 2022, 64% of which were youths
FRA, GAFI form committee to improve investment environment
Committee to submit reports periodically to both administrations to urgently consider common issues: Farid
Egypt’s Cabinet reconstitutes Board of Directors of FRA for four years
The new board includes Islam Abdel Azim Azzam and Ahmed Abdel Rahman Al-Sheikh as Vice Chairpersons of the Board of Directors of the Authority, Mohamed Farid as Chairperson, in addition to one of the deputy governors of the Central Bank of Egypt (CBE) that will be chosen by the new acting governor.
FRA approves issuance of securitisation bonds for EFG-Hermes, ValU
It also approved EFG-Hermes’ second securitisation programme — which is worth EGP 2bn — for consumer finance portfolios referred by ValU Consumer Finance.
FRA adopts new rules for settlement of corporate bonds registered in same trading session
New rules aim to eliminate interim financing costs for the period between trading and settlement: Farid
FRA approves EGX’s proposal to correct transactions using reverse implementation mechanism
This step comes within the framework of the two parties’ keenness on maintaining the stability of markets and security of transactions by implementing mechanisms that avoid market disruptions and violations of the provisions of the laws and decisions.
What should the money market expect from FRA’s new chairperson?
Government pays great attention to non-banking financial sector: Madbouly
Mohamed Farid appointed as interim chairperson of FRA
Ahmed Abdel Rahman named acting chief of EGX
Mohamed Omran’s tenure as chief of FRA concludes after two consecutive terms
Sources told DNE that there is a possibility that Omran’s term would be renewed, especially that the decision has not been issued yet.
FRA receives requests to establish agricultural, climate change investment funds
Authority suggests amendment to regulation to provide sustainability, green bonds: Omran
FRA approves first future flow securitisation programme of EGP 2bn over 3 years
CIRA plans to issue EGP 2bn worth of securities backed by future tuition revenues over the course of three years. The first issuance of the programme will see the company sell EGP 800m worth of bonds to financial institutions and other institutional investors.
FRA aims to increase financing for non-banking financial activities to EGP 820bn by 2026
The FRA amended the second phase of its draft strategy (2026-2022) to include only five main axes: enhancing the use of financial technology and accelerating digital transformation, achieving financial inclusion and deepening levels of sustainability, managing risks and building an effective early warning system, developing the legislative structure, and enhancing financial culture and capacity building.
Total investments of private insurance funds in Egypt reach EGP 102bn: FRA
The new model will help to better understand and manage the risks these funds face, enabling those in charge of managing private insurance funds to take the necessary effective corrective and preventive measures, limiting the negative effects of the various risks they are exposed to.
FRA, UN Women Egypt organise seminars on gender equality, enhancing work environment
The seminars included the participation of Hisham Ramadan, Assistant Chairperson of the FRA; and Gielan Al-Messiri, Deputy Country Representative for UN Women Egypt.