12 Endeavour Square. We look forward to achieving more, as great aspirations are futile if unbacked by greater endeavours. 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. Financial Regulatory Authority Official Website : Click To Visit Customer Protection Guide Brochure Customer Protection Guide 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. Egypt’s Financial Regulatory Authority Calls for Electronic Voting and Digitizes Services in the Wake of COVID-19 Published: Mar 19, 2020 Further precautionary measures are being taken by the Egyptian authorities to limit the spread of the Coronavirus disease (COVID-19). All rights … Sponsored Links by DQ Promote. (18) of 2019 regulating the "use of cashless payment methods." 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. 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. With 19 offices and 3,600 employees deployed throughout the country, FINRA is dedicated to ensuring that our nation’s financial markets are fair and honest. This in turn has greatly contributed to creating a full-fledged, clear-cut institutional structure for the non-banking financial sector. These complaints included 15,798 for mobile phone, 25,548 fixed internet, 11,939 for fixed phones, and 1,278 for mobile devices. These efforts led to bagging a slew of international recognition and awards, where Egypt, represented by FRA, won the membership of the International Organisation of Securities Commissions (IOSCO) Board, retaining its seat for the third consecutive period (2018â2020). 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. As we come to the end of the first decade, we had to launch a new roadmap for the non-banking financial sector. Box 356, Kingstown St. Vincent West Indies. The agreements to avoid double taxation and prevent tax evasion. We had to unify human and material resources, the supervisory systems, and data and information infrastructure of three different authorities. The financial reporting framework in Egypt is established under the Companies Law No. The merger of the three supervisory authorities was a long and challenging mission. Telephone number: +202 25354100 . All rights reserved to Financial Regulatory Authority ©2019. Its funds regime and its confidentiality regime are fully recognised by the European Securities and Markets Authority (ESMA) … FRA also issued its first sustainability report to become the-first-of-its-kind issued by a public authority in Egypt. This was guided by the decisions issued by the Financial Regulatory Authority to increase the scope of disclosure, transparency, and the efficiency of regulatory framework for corporate governance, and minority shareholdersâ protection. Contact details Primary address Building: Building 136B Street: Alexandria Desert Road Area: Smart Village Area P.O. All Rights Reserved. The National Telecommunications Regulatory Authority (NTRA) handled 54,563 complaints from October to December 2020, an increase of six percent compared to 51,318 complaints during the third quarter. Agreement will work to combat financial crime, conduct consolidated supervision of common firms and discuss crisis management, This includes, but is not limited to, combatting financial crime, conducting consolidated supervision of common firms and discussing crisis management. On the other hand, FRA fulfilled its pledge to include sustainability in its strategy. Email us at editorial.zawya@refinitiv.com, or send us your company press releases to pressrelease.zawya@refinitiv.com. The FSRA is a signatory to 115 bilateral MoUs with both national and international bodies including International financial centres and regulators.FSRA became signatory to the IOSCO MoU in May 2017 and to the IAIS MMoU in December 2018. The non-banking financial sectorâs regulator recently created a new independent sustainability department, in addition to holding meetings with FRAâs employees to spread the knowledge about the concept of sustainability and shed the light on its principles, goals, and plans for its applications. Egyptian Financial Supervisory Authority | 3,267 followers on LinkedIn. Moreover, Africa Investor named FRA the âMost innovative Capital Markets Regulatorâ in the African Stock Markets in 2018, and its Chairman was awarded the most influential personality in African capital markets in 2017. The FRA is responsible for supervising and regulating non-banking financial markets and instruments, By the end of September 2019, movable collaterals increased to more than 33 thousands, with a total value of over EGP 500 billion since starting the operation of the Egyptian Collateral Registry in March 2018. Moreover, the Financial Regulatory Authority has focused on community dialogue in formulating our decisions and laws as we believe that we are all partners in realising the sectorâs interest, and we will forge ahead with expanding the sectorâs governance practices and ensuring the biggest possible protection for minority shareholders. Email: fsra@govt.lc Tel: (758) 468-2990 Fax: (758) 451-7655 https://dfsobservatory.com/content/list-national-regulatory-authorities Message of FRA’s Chairman. Administrator's name or contact person E-mail info@eda.mohp.gov.eg . Perhaps our slogan âBuilding Bridges not Wallsâ is the best illustration of our present approach for the non-banking financial sector. 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. This website uses cookies to improve your online experience. We help manage the monetary affairs of the Cayman Islands. The board comprises FRA deputy chairperson Reda … SINGAPORE: Sabana REIT records gross revenue decline by 5.5% to SG$37.4 million (US$28.29 million) for second half of 2020. ADDRESS Financial Services Authority 2nd Floor, Reigate Building P.O. Box: 12577 Country: Egypt City: Cairo Our role is not limited to supervision, but we have focused on creating favourable environment for investment, a one that is open to developments and capable of building bridges to communicate with stakeholders. Box 3365, Mbabane, H100, Eswatini. © 2021 Financial Services Regulatory Authority (FSRA) . As part of its keenness to support technological progress and digital transformation, FRA keeps a close eye on technological progress, particularly Blockchain Technology, Artificial Intelligence (AI), Cloud Computing, and Cybersecurity challenges to explore their impacts on changing the dynamics of non-banking financial markets, including Financial Technology (Fintech), Regulatory Technology (Regtech), and Supervisory Technology (Suptech). 10 of 2009. 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). Deltalife Assurance Company. Investments of private insurance funds also grew threefold, recording EGP 75 billion, compared to EGP 24 billion in 2009. This adds to 8 decades of supporting the Egyptian economy, since the issuance of the first insurance legislation in 1939. Hot Line: 16154 Email Address:contactus@deltalife.com.eg 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 This merger was unquestionably an excellent strategic decision; it illustrated a far-sighted vision, which led Egypt to be a pioneer emerging country in merging the supervisory authorities of the non-banking financial sector under one umbrella. FRA also signed a memorandum of understanding (MoU) with the Central Bank of Egyptâs (CBE) Money Laundering Combating Unit (EMLCU) and the Ministry of Communications and Information Technology (MCIT) in an effort to step up Fintech cooperation according to the remit of each party, which in turn helps start-ups and entrepreneurs iron out supervisory and legal obstacles. ... Email Address . 5th Floor Ingcamu Building, Mhlambanyatsi Road, P.O. This aims to reset the course, address challenges, spur aspirations, and recreate an inclusive, pro-growth, and autonomous non-banking financial sector, which ensures gender equality and prioritises financial inclusion and womenâs empowerment. The Non-Bank Financial Institutions Regulatory Authority Act and the Retirement Funds Act, Retirement Funds Regulations regulate the establishment, licensing and operation of retirement funds in Botswana. 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