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Arab Finance: The Financial Regulatory Authority (FRA) has approved the establishment and licensing of six new companies to operate across real estate investment funds, factoring, investment fund management, and real estate finance, according to a statement issued on December 17th.
The move comes as part of efforts to support the development of non-banking financial activities and broaden the base of service providers in the Egyptian market.
Among the decisions, the FRA's committee for the establishment and licensing of companies approved the establishment of Awaed Investment Fund for Real Estate Investment Company and Thndr Real Estate Asset Investment Fund, both of which will operate real estate investment funds.
It also licensed Nawi Shares Fund Company to engage in the same activity.
In the factoring segment, the committee approved licensing BFI Cash Company and registering it in the relevant register, enabling the company to provide financing solutions based on the purchase of short-term financial rights, a mechanism aimed at supporting corporate liquidity.
The committee also approved adding investment fund management to the scope of Okaz Asset Management Company, expanding its role in managing investment portfolios and funds.
In addition, it granted EFG Financial Solutions Company a license to operate in real estate finance, supporting the growth of long-term financing linked to the real estate sector.
