Egypt's Financial Regulatory Authority (FRA) has approved Monday a series of licences and corporate establishments for eight companies, covering real estate and mineral investment funds, securities underwriting, and non-banking financial services. The approvals include the creation of Bokra Private Equity Investment Fund and Bokra Venture Capital Fund, as well as licensing Bokra Investment Fund for Minerals to conduct investment fund activities. The FRA also authorised the establishment of SAFE Real Estate Fund Company and SAFE Company for Securities Underwriting and Promotion, which will manage real estate investment funds. In the non-banking finance sector, SHL Finance received a licence to operate SME financing, while Act Financial Holding was approved to conduct investment fund activities independently or jointly with others. Sadara Holding Group was allowed to add securities underwriting and promotion to its corporate purpose. The Companies Establishment and Licensing Committee, responsible for overseeing non-banking financial companies under FRA supervision, also handles amendments to company statutes, branch openings or closures, liquidation requests, and registration of institutional agents, according to FRA Chairman Decision No. 3060 of 2023. The latest approvals are part of Egypt's ongoing effort to strengthen governance and expand the regulatory framework for investment and non-banking financial activities. Attribution: Amwal Al Ghad English
