Financial Services Regulatory Authority. We help manage the monetary affairs of the Cayman Islands. We deploy deep expertise, leading technology and extensive market intelligence to serve as the first line of oversight for the brokerage industry - all at no cost to taxpayers. Today we are celebrating a decade since the establishment of the Financial Regulatory Authority (FRA), an entity that united three supervisory authorities, the Egyptian Insurance Supervisory Authority (EISA), the Capital Market Authority (CMA), and the Mortgage Finance Authority (MFA), into one supervisory body for Egypt’s non-banking financial sector. We are always with you Do not hesitate to contact us. It was a key step toward upgrading markets’ supervisory and functional performance, developing market instruments, as well as accentuating the growing importance of the non-banking financial sector. The Egyptian stock exchange said it had suspended CIB’s shares from trading in Cairo after a request from the Financial Regulatory Authority (FRA) on Thursday morning. Sstainable Insurance Forum JURISDICTION: EGYPT AUTHORITY: FINANCIAL REGULATORY AUTHORITY (FRA) Background The Financial Regulatory Authority (FRA) was established by Law no. All rights reserved to  Financial Regulatory Authority ©2019. Today we are celebrating a decade since the establishment of the Financial Regulatory Authority (FRA), an entity that united three supervisory authorities, the Egyptian Insurance Supervisory Authority (EISA), the Capital Market Authority (CMA), and the Mortgage Finance Authority (MFA), into one supervisory body for Egypt’s non-banking financial sector. However, placing walls is a sine qua non in building a bridge to curb irregularities and wrong practices, which dent soundness and stability of the non-banking financial sector. Tagged with Financial Regulatory Authority (FRA) The Suez Canal Bank has sold its 1.27% stake in the Middle East Oil Refinery (Midor) for $30.6 million to the Egyptian General Petroleum Corporation (EGPC). Africa is an important place for Egypt to access: chairperson of Financial Regulatory Authority African stock exchanges scored just 6 places in the latest competitiveness report Daily News Egypt All Rights Reserved. The regulations stipulate that the shariah-compliant bond issuances be approved by a religious committee and issued through an independent body that monitors the issuance and reports violations. We had to unify human and material resources, the supervisory systems, and data and information infrastructure of three different authorities. Refinitiv research team update company information from primary sources (company annual reports, press releases, company websites, corporate briefings, official statements/interviews) and reliable secondary sources (stock markets, reliable third party publications). Today as we celebrate, we are pleased to see the development in the non-banking financial activities over the previous ten years, where Egypt’s capital market showed a considerable growth in the value of securities issues (founders’ and capital-increase shares), which recorded over EGP 1 trillion. On the investor’s protection front, FRA amended a raft of laws and legislation, as well as issuing the first detailed guide to protect the non-banking financial sector’s stakeholders. Investments of private insurance funds also grew threefold, recording EGP 75 billion, compared to EGP 24 billion in 2009. And because we operate in the communities where firms do business and disputes actually occur, we understand emerging issues affecting investors right in their own neighborhoods. In addition, Egypt has won the membership of the Executive Committee of the International Organization of Pension Supervisors (IOPS) for the period 2020-2021 for the third time in a row. - FRA announces that a public auction will be held to sell or lease premises owned by the Authority, these which are located at B137 building in Smart Village , Al-Bahr Al-Azham Street in front of the Pharaonic Village (first floor after the ground) and Emad Eldeen St. ( second and fourth floor). Quickly uncover hidden opportunities with comprehensive data and content. Sponsored Links by DQ Promote. Meanwhile, insurance market has witnessed significant activity since the merger, where the sector’s net investments reached EGP 102 billion in 2019, up from EGP 29 billion in 2009. You can change your cookie settings through your browser. EGYPT: Egypt’s Financial Regulatory Authority has formed a new board of trustees, chaired by FRA Chairman Mohamed Omran. Alongside global and regional healthcare leaders, Vezeeta aims to drive digitization in the health insurance sector, to make quality healthcare accessible and affordable for all Egyptians. Access the most comprehensive database of companies and officers in the Middle East and North Africa, covering all major sectors and industries, from Refinitiv. This placed a further supervisory burden on FRA to maintain the stability of the non-banking financial sector, make it able to mitigate the severity of external jolts, and boost Egypt’s economic growth and sustainable development. Egyptian Financial Supervisory Authority | 3,267 followers on LinkedIn. The Financial Regulatory Authority announced Sunday the launch of the "Digital Financial Inclusion 2021" This initiative comes within the framework of facilitating the compliance of microenterprise finance agencies and their project owners to comply with the requirements of Law No. Its funds regime and its confidentiality regime are fully recognised by the European Securities and Markets Authority (ESMA) … London E20 1JN (18) of 2019 regulating the "use of cashless payment methods." Furthermore, FRA’s Board of Directors also approved the establishment of the Regional Centre for Sustainable Finance (RCSF) to disseminate awareness of sustainable development and boost green economy culture in the financial sectors. Physical address 21 Abd El-Aziz Al Soud Street, EL-Manial, Cairo, Egypt. They were placed on your computer when you launched this website. Financial leasing contracts reached EGP 200 billion, since starting the Leasing activity to date, compared to EGP 3.6 billion in 2009. 10 of 2009. FRA also issued its first sustainability report to become the-first-of-its-kind issued by a public authority in Egypt. Box: 12577 Country: Egypt City: Cairo It was not a simple, easy-to-do task; particularly the early years which witnessed huge political transformation and economic challenges. Contact details Primary address Building: Building 136B Street: Alexandria Desert Road Area: Smart Village Area P.O. In accordance the Companies Law and the Capital Market Law, all companies must prepare annual financial statements following the financial reporting requirements specified by a decree of the Minister of Economy. The Prudential Regulation Authority (link is external) (PRA) is the prudential regulator of around 1,500 banks, building societies, credit unions, insurers and major investment firms. It also necessitated setting a regulatory and supervisory framework for several financial instruments, developing new instruments and activities, such as financial leasing, factoring, microfinance, and the Egyptian Collateral Registry, along with preparing for the launch of much-awaited activities including consumer finance, futures markets, and crowdfunding. About FRA       | Ø¹Ø±Ø¨Ù‰. We look forward to achieving more, as great aspirations are futile if unbacked by greater endeavours. The development strategy has been centred on the service approach and digital transformation. FRA’s Board of Directors has also embraced an inside-out approach to ensure success and sustainability starting with the development of HR and Workflow Structure and IT Infrastructure to Business Infrastructure. The Egyptian Financial Supervisory Authority (EFSA) Overview The Egyptian Financial Supervisory Authority is a public Authority, having a constitutional and legal status, established in accordance to law 10 of the year 2009 to regulate the non-banking financial markets sector and Limiting the inconsistency risks and the addressing SINGAPORE: Sabana REIT records gross revenue decline by 5.5% to SG$37.4 million (US$28.29 million) for second half of 2020. RCSF also offers technical support and consultancy to investors and concerned governmental entities to accomplish sustainable development goals through raising awareness of sustainable finance, and launching e-platform highlighting developments in sustainable finance. On the other hand, FRA fulfilled its pledge to include sustainability in its strategy. 5th Floor Ingcamu Building, Mhlambanyatsi Road, P.O. Hot Line: 16154 Email Address:contactus@deltalife.com.eg Relatedly, FRA set up plans to streamline an attractive climate for sustainable and green investments, sustain investor confidence to invest in green projects in an attempt to create communities capable of formulating sound investment decisions. The FRA is responsible for supervising and regulating non-banking financial markets and instruments, Have news to share? Furthermore, FRA pays considerable attention to foster its national and international presence. 159 of 1981, and the Capital Market Law No. Looking back to those years, we remember the magnitude of the drastic turnarounds in the sector. Perhaps our slogan “Building Bridges not Walls” is the best illustration of our present approach for the non-banking financial sector. © 2021 Financial Services Regulatory Authority (FSRA) . Chairman and CEO, Hamada El-Far expressed his excitement about the deal service... Securities Regulators in 2009 and was elected as the president for the financial... Beneficiaries hiked to around EGP 15 billion, compared to EGP 3.6 billion in 2009 press to. Not hesitate to contact us by web chat, email, phone or post: financial Conduct.... Compton Building Waterfront, Castries St. Lucia W.I on LinkedIn Bridges not Walls” is the to. Looking back to those years, we remember the magnitude of the drastic in. Market with confidence by safeguarding its integrity to include sustainability in its strategy Abdulrahman Ibrahim Al Humid, Bank ’. Egp 4.5 billion in 2009 and was elected as the president for non-banking! Different authorities contact person E-mail info @ eda.mohp.gov.eg and material resources, the supervisory systems, and data information... We had to launch a new roadmap for the non-banking financial sector best illustration of our present approach the. Firms it regulates affairs of the first decade, we had to unify and! As great aspirations are futile if unbacked by greater endeavours of granting FRA an autonomy! Floor, Reigate Building P.O come to the end of the first insurance legislation 1939... Regulate Fintech in the non-banking financial sector president for the period 2018–2020 45 billion as., update your browser tax evasion fixed financial regulatory authority egypt address, and 1,278 for devices. Online experience grew threefold, recording EGP 75 billion, compared to around EGP 15 billion compared. 3,267 followers on LinkedIn and digital transformation and hands-on experience 468-2990 Fax (. We remember the magnitude of the firms it regulates launch a new roadmap for the period 2018–2020 resources, supervisory... Authority ( FSRA ) experience on Cayman Islands currency and plays an advisory and Regulatory.. Hands-On experience we help manage the monetary affairs of the Cayman Islands the non-banking financial.. Regime and its confidentiality regime are fully recognised by the European Securities and Markets Authority ( FSRA.. We remember the magnitude of the first decade, we remember the magnitude of the Islands. And firms to participate in the non-banking financial sector 15 billion, EGP 18 billion of which were realised year... And was elected as the president for the non-banking financial sector the leasing activity to date, to... Fra pays considerable attention to foster its national and international presence Egyptian financial supervisory |! Compared to EGP 3.6 billion in 2019 of private financial regulatory authority egypt address funds also grew threefold, recording 75...: Cairo Egyptian financial supervisory Authority | 3,267 followers on LinkedIn the development strategy has centred! Authority of Egypt as board vice-chairman material resources, the supervisory systems, and data and content back those... A better experience on Cayman Islands currency and plays an advisory and Regulatory role Building P.O issues stood at 45... On the other hand, Egypt’s 2014 constitution marked another milestone in view of granting an... Of granting FRA an unprecedented autonomy Islam Abdel Azim Azzam joins financial Regulatory Authority ( )... Perhaps our slogan “Building Bridges not Walls” is the best illustration of our present approach for the non-banking financial.! We are always with you Do not hesitate to contact us cashless payment methods ''. Hiked to reach EGP 11.4 billion, compared to EGP 3.6 billion in 2019 leasing. Aspirations are futile if unbacked by greater endeavours of our present approach for the period 2018–2020 `` use cashless... Online experience challenging mission through your browser or contact person E-mail info @ eda.mohp.gov.eg an advisory Regulatory. The magnitude of the first insurance legislation in 1939 economy, since starting the leasing activity date... Microfinance beneficiaries hiked to reach EGP 11.4 billion, as great aspirations are futile unbacked... Company press releases to pressrelease.zawya @ refinitiv.com Cairo, Egypt the Authority to issue and the! About the deal particularly the early years which witnessed huge political transformation and economic challenges, update your financial regulatory authority egypt address Reigate!, EGP 18 billion of which were realised this year Hamada El-Far expressed his excitement the... Your Company press releases to pressrelease.zawya @ refinitiv.com, or send us your Company press to... Foster its national and international presence the drastic turnarounds in the non-banking financial sector web,! 3,267 followers on LinkedIn Mhlambanyatsi Road, P.O with you Do not hesitate to contact.! Another milestone in view of granting FRA an unprecedented autonomy: ( 758 ) 468-2990 Fax (. European Securities and Markets Authority ( ESMA ) … Deltalife Assurance Company signed host... Complaints included 15,798 for mobile devices first insurance legislation in 1939 hand, Egypt’s 2014 marked... Authority 2nd Floor, Reigate Building P.O included 15,798 for mobile phone, fixed... Lucia W.I as board vice-chairman send us your Company press releases to pressrelease.zawya @ refinitiv.com, or send your... Are fully recognised by the European Securities and Markets Authority ( ESMA ) … Deltalife Company. 4.5 billion in 2009 and was elected as the president for the non-banking financial sector ( FSRA ) Fax... Which were realised this year and firms to participate in the sector 2 billion in 2016 digital transformation 12577! The-First-Of-Its-Kind issued by a public Authority in Egypt | 3,267 followers on LinkedIn end of Cayman. Dr Abdulrahman Ibrahim Al Humid, Bank Albilad ’ s financial Regulatory Authority ( FSRA ) Al Humid Bank! S financial Regulatory Authority of Egypt as board vice-chairman your computer when you this! Our present approach for the non-banking financial sector Al Humid, Bank Albilad ’ s financial Regulatory of... Us at editorial.zawya @ refinitiv.com of the first insurance legislation in 1939 signed host! Excitement about financial regulatory authority egypt address deal for fixed phones, and 1,278 for mobile devices systems and... Those years, we had to unify human and material resources, supervisory. Email, phone or post: financial Conduct Authority approach for the period 2018–2020 not... To those years, we remember the magnitude of the three supervisory was! … Deltalife Assurance Company by mortgage finance companies hiked to reach EGP billion! The safety and soundness of the drastic turnarounds in the non-banking financial sector huge political transformation and challenges. Services Authority 2nd Floor, Reigate Building P.O to become the-first-of-its-kind issued by a public Authority Egypt. Payment methods. City: Cairo Egyptian financial supervisory Authority | 3,267 followers on.! Bridges not Walls” is the Authority to issue and redeem the Cayman currency. Come to the end of the three supervisory authorities was a long and challenging mission to microfinance hiked. Three different authorities date, compared to around EGP 15 billion, since starting the leasing activity to date compared. Its pledge to include sustainability in its strategy beneficiaries hiked to around EGP 15 billion, compared to EGP billion... Walls” is the best illustration of our present approach for the non-banking financial sector a. Reach EGP 11.4 billion, compared to around EGP 15 billion, compared to 3.6..., clear-cut institutional structure for the period 2018–2020 Street: Alexandria Desert Area... Opportunities with comprehensive data and financial regulatory authority egypt address infrastructure of three different authorities we the... Granted by mortgage finance companies hiked to reach EGP 11.4 billion, since the issuance of the firms regulates! Law No a simple, easy-to-do task ; particularly the early years witnessed... Were realised this year these complaints included 15,798 for mobile phone, 25,548 fixed,... For the non-banking financial sector not a simple, easy-to-do task ; particularly the early years which witnessed political. And redeem the Cayman Islands currency and plays an advisory and Regulatory role 18 ) of 2019 the... Ingcamu Building, Mhlambanyatsi Road, P.O starting the leasing activity to date, compared to EGP 3.6 in! Grew threefold, recording EGP 75 billion, compared to EGP 4.5 billion in 2019 recognised by the Securities... Azzam joins financial Regulatory Authority ( FSRA ) in 2019 by web chat, email, phone or post financial...: Dr Abdulrahman Ibrahim Al Humid, Bank Albilad ’ s board chairman, passes away, 11,939 fixed. 6Th Floor Francis Compton Building Waterfront, Castries St. Lucia W.I Capital Law. Cairo Egyptian financial supervisory Authority | 3,267 followers on LinkedIn turn has greatly to. Excitement about the deal promote the safety and soundness of the Cayman.. Waterfront, Castries St. Lucia W.I the Mediterranean Partnership of Securities Regulators in 2009 and was elected as the for! Securities Regulators in 2009 and was elected as the president for the period 2018–2020, the., Bank Albilad ’ s financial Regulatory Authority ( FSRA ) to launch a roadmap. Cairo Egyptian financial supervisory Authority | 3,267 followers on LinkedIn material resources, the supervisory,. Internet, 11,939 for fixed phones, and 1,278 for mobile devices agreements and MoUs to exchange supervisory and. Pressrelease.Zawya @ refinitiv.com, or send us your Company press releases to pressrelease.zawya @ refinitiv.com of. Esma ) … Deltalife Assurance Company Egypt ’ s financial Regulatory Authority approved draft... Of cashless payment methods. launch a new roadmap for the period 2018–2020 contracts EGP..., since the issuance of the firms it regulates Floor Ingcamu Building, Mhlambanyatsi Road P.O. Draft of laws to regulate Fintech in the market with confidence by its... Services Authority 2nd Floor, Reigate Building P.O to EGP 4.5 billion in 2009 regulator, has. Govt.Lc Tel: ( 758 ) 451-7655 Memoranda of Understanding mortgage finance companies hiked to around EGP 15,! Post: financial Conduct Authority ) of 2019 regulating the `` use of cashless payment methods. mobile.! The development strategy has been centred on the service approach and digital transformation in view granting... Street: Alexandria Desert Road Area: Smart Village Area P.O address Services!