• FRA approves six companies for real estate investment funds, factoring, investment fund management, and real estate finance activities in Egypt.
• These new licenses include Awaed, Thndr, Nawy Shares, BFI Cash, Okaz Asset Management, and EFG for various non-banking financial services.
• The committee that issued the approvals oversees establishment, licensing, branch operations, activity additions, and temporary or voluntary suspensions for non-banking financial companies.

FRA 

Egypt’s Financial Regulatory Authority (FRA)  approved six companies for the establishment and licensing in the fields of real estate investment funds, factoring, investment fund management, and real estate finance. 

The authority issued approvals for the establishment of the Awaed Investment Fund for the Real Estate Investment Company to carry out real estate fund activities. It also issued approvals for Thndr to operate real estate investment funds. Additionally, it approved Nawy Shares to engage in the same activity.

The authority also approved the licensing of BFI Cash to carry out factoring activities and register it accordingly. It also approved the Okaz Asset Management Company to engage in investment fund management. Additionally, it approved EFG to carry out real estate finance activities. 

Committee

The Committee for the Establishment and Licensing of Companies (لجنة تأسيس وترخيص الشركات الخاضعة) under the supervision of the Financial Regulatory Authority granted these approvals. It was set up under FRA Chairman Decision No. 3060 (2023). 

It is responsible for approving the establishment and licensing of companies operating in non-banking financial services under the FRA’s supervision. Additionally, it handles requests to add activities and mechanisms for companies in the non-banking financial sector. 

It also approves the opening, relocation, or closure of branches for non-banking financial companies. It also processes requests related to liquidation and temporary or voluntary suspension of operations. In addition to the registration, renewal, or removal of institutional agents of companies operating in non-banking financial activities.