The Committee for the Establishment and Licensing of Companies, operating under the supervision of the Financial Regulatory Authority (FRA), has approved the establishment of five new companies. These include Saqr Real Estate Investment Fund, Nawy Shares Real Estate Investment Fund, Saqr for Real Estate IPO Promotion and Fund Management, Nawy Shares for Real Estate IPO Promotion and Fund Management, and Qardy for Medium and Small Enterprise Financing.
In addition, the committee granted approval for Ahly Capital for Microfinance (“Tamkeen”) to expand its licensed activities to include micro leasing, and for Irada for Microfinance to add medium and small enterprise financing to its business scope.
The committee also approved the regularisation of the status of the National Bank of Egypt (NBE) and QNB for registration in the FRA’s official registry, allowing both banks to trade in government securities and instruments on the secondary market.
Established under FRA Chairperson’s Decision No. 3060 of 2023, the Committee for the Establishment and Licensing of Companies is tasked with approving the formation of companies operating within the non-banking financial services sector under FRA oversight. Its responsibilities include granting activity licences; reviewing and approving requests to add new activities, mechanisms, or amend company bylaws; and overseeing regulatory transitions for firms entering or exiting the securities and consumer finance markets.
The committee is also responsible for endorsing employee reward and incentive schemes, issuing initial or final establishment approvals, and making determinations on suspending decisions taken by the general assemblies of regulated firms. Additionally, it handles requests related to the opening, relocation, or closure of branches, as well as requests for liquidation, temporary or voluntary suspension of activities, and the registration, renewal, or delisting of company founders’ representatives in the non-banking financial sector.
