FRA Approves 12 New Entities to Expand Non-Banking Financial Activities
Real Estate & Agricultural Funds, Investment Portfolio Licenses, and Acquisitions
The Financial Regulatory Authority (FRA), chaired by Dr. Islam Azzam, issued a set of decisions approving 12 new companies and investment entities to join the non-banking financial sector. Approvals included the establishment of "Taj Misr Tourism Real Estate Investment Fund Company," "Taj Misr Real Estate Fund Company," and "Taj Misr for Promotion and Underwriting of Securities and Management of Real Estate Investment Funds."
To bolster the capital market, "Lantis for Securities Portfolio and Investment Fund Management" was licensed to manage portfolios and funds as well as promote and underwrite securities. Additionally, "Ahli Green Group Investment Fund" was licensed as an open-ended agricultural investment fund, and "Al Monzelawy Venture Capital" was established to acquire equity stakes in special purpose acquisition companies (SPACs).
Expansion in Custody Services and Debt Collection
Strengthening market infrastructure, "MNT-Halan Holding for Financial Investments" and "Azimut Investments Egypt" received licenses to operate as custodians. In the collection and credit sector, three new companies joined the registry for financing debt collection and non-banking finance entities: "Trusty for Debt Collection and Field Survey," "Prime Solutions Middle East for Debt Collection," and "Tasweya for Consultations and Debt Collection," bringing the total number of registered collection companies to 11.
Second License for Specialized Medical Insurance and Incorporation Committee Operations
In the insurance sector, "Care Plus for Medical Care" received a temporary license to conduct specialized health maintenance organization (HMO) medical insurance under Unified Insurance Law No. 155 of 2024, becoming the second company to obtain this license.
These steps follow recommendations by the Companies Incorporation and Licensing Committee—responsible for evaluating company applications, branch operations, and structural amendments—and fall within the FRA's regulatory role to develop non-banking financial markets and diversify financing tools.