• Debt-collection register rises to 11 companies, and a second temporary licence is issued for specialised medical insurance

The Financial Regulatory Authority (FRA), chaired by Dr. Islam Azzam, has granted 12 companies and entities approvals for incorporation, registration and licensing to carry out non-banking financial activities, alongside the establishment of investment funds and companies specialising in a number of activities. The move is part of the FRA's efforts to broaden the base of companies operating in the sector and to diversify non-banking financial services and products.

The decisions included approval to establish "Taj Misr Tourism Real Estate Assets Investment Fund Company" to operate as a real estate investment fund, and "Taj Misr Real Estate Fund Company" to operate as a real estate investment fund, as well as "Taj Misr for Securities Promotion and Underwriting and Real Estate Investment Fund Management".

In capital-market activities, the FRA licensed "Lantis for Securities Portfolio and Investment Fund Management" to set up and manage securities portfolios, manage investment funds, and promote and underwrite securities.

The decisions also licensed "Al Ahly Group Green Agricultural Investment Fund Company" to operate an open-ended agricultural investment fund, and approved the establishment of "El Manzalawy Venture Capital" to acquire stakes in special purpose acquisition companies (SPACs) or similar entities.

In custody activities, the FRA licensed "MNT Tech Holding for Financial Investments" and "Azimut Investments Egypt" to act as custodians, supporting the development of securities-investment services and strengthening the capital market's service infrastructure.

In debt collection, to protect clients' rights and regulate the markets, the FRA registered 3 new companies — "Trusty for Debt Collection and Field Inquiry", "Prime Solutions Middle East for Debt Collection" and "Taswiya for Consulting and Debt Collection" — in the register of debt-collection companies and entities operating in non-banking finance, bringing the number of registered companies to 11 so far.

The decisions also granted "Care Plus for Medical Care" a temporary licence to carry out specialised medical insurance (HMO) activity, raising the number of companies holding a temporary licence to two in this activity, newly regulated under Unified Insurance Law No. (155) of 2024.

The FRA grants these approvals under its constitutional and legal mandate to regulate and supervise non-banking financial markets and instruments, including capital markets, futures exchanges, insurance, mortgage finance, financial leasing, factoring, securitisation and consumer finance, as well as approving the incorporation and licensing of companies operating in those markets.

The FRA issues incorporation, registration and licensing decisions based on the recommendations of the Committee for the Incorporation and Licensing of Companies and their Branches. The committee studies and issues preliminary and final approvals for companies; handles requests to add activities and mechanisms and to open, close or relocate branches; reviews amendments to articles of association; approves incentive and reward schemes and their amendments; handles changes of legal umbrella, whether entering or exiting, for companies operating in securities and consumer finance; and examines requests for liquidation and voluntary temporary suspension of activity.