Egypt’s Financial Regulator Approves Seven New Non-Banking Entities

Egypt’s Financial Regulatory Authority (FRA) has approved the licensing and registration of seven companies to operate within the capital market and non-banking finance sectors. The decisions, authorized under the leadership of FRA chair Islam Azzam, aim to expand the scope of non-banking financial services in the country.

The regulator authorized the establishment of Sheria Securities Promotion and Underwriting Company. Additionally, eFinance Holding and Olive Egypt Holding received approval to participate in securities issuance. Golden Way Securities and Bonds Brokerage was granted a license for bond dealing, while Business Community for Financial Investments received authorization for portfolio management. Fawry Consumer Finance received preliminary approval to add factoring, and Simple Financial Technology and Solutions was registered for financial receivables collection.