Islam Azzam, Chairperson of Egypt’s Financial Regulatory Authority (FRA), has approved a series of decisions issued by the Committee for the Establishment and Licensing of Companies operating under the Authority’s supervision, including granting licences to 10 companies to carry out a range of non-banking financial activities.
The approvals come as part of the FRA’s broader strategy to enhance governance within the non-banking financial sector, support its development, protect stakeholders, and stimulate investment.
Among the approved licences, OG Capital Acquisition Investments Company was authorised to engage in venture capital activities. The company will invest in acquiring equity stakes in companies and entities, in line with the provisions of Capital Market Law No. 95 of 1992, its Executive Regulations, and relevant FRA board decisions.
The Committee also approved the licensing of Arabia Online Brokerage Company to undertake dealing, brokerage, and intermediation activities in bonds, expanding its operational scope within capital markets.
In asset and fund management, Sawari Ventures Company received approval to conduct portfolio management and manage investment funds. Similarly, Acumen Holding for Financial Investments was granted a licence to engage in investment fund activities, either independently or in partnership with other entities, in accordance with FRA Decision No. 58 of 2018.
Additional approvals included granting Halan Securities Brokerage Company a licence to receive subscriptions in investment fund units, while Wellesley Financial Holding Company was authorised to carry out custody activities.
Beltone Securities Trading Company also obtained approval to engage in futures brokerage activity, following the addition of this activity to its corporate objectives, in line with FRA Decision No. 7 of 2026.
In the healthcare and insurance segments, Smart Care Medical Services was granted a temporary licence to manage healthcare programmes. Meanwhile, Riyada Insurance Brokerage and E-Guardians Insurance Brokerage received approval to be registered in the insurance brokers registry as corporate entities.
The Committee for the Establishment and Licensing of Companies—established under FRA Chairperson Decision No. 3060 of 2023—is responsible for approving the incorporation and licensing of companies operating in non-banking financial activities under the Authority’s supervision.
Its mandate also includes approving amendments to companies’ articles of association, issuing preliminary and final approvals, endorsing incentive and remuneration schemes and their amendments, and providing opinions on suspending general assembly resolutions for companies operating in the securities and consumer finance sectors.
Furthermore, the Committee oversees requests to add new activities and mechanisms, as well as changes to the applicable legal frameworks governing companies, including transitions into or out of regulatory regimes. It also approves the opening, relocation, and closure of company branches, and reviews requests related to liquidation or the temporary or voluntary suspension of activities.
In addition, the Committee is responsible for the registration, renewal, and removal of founders’ agents operating in the non-banking financial sector.
