Egypt's FRA expands non-banking financial services and sustainable finance mandate

The Egyptian Financial Regulatory Authority (FRA) is implementing several initiatives to expand and refine the nation's non-banking financial sector. The authority is currently working to enhance the Egyptian Movable Collateral Registry by engaging with stakeholders and creditors to improve its electronic operating system and procedures, aiming to facilitate easier financing through movable assets.

Additionally, the FRA has expanded the mandate of the Regional Centre for Sustainable Finance and Carbon Markets. The centre will now serve as a technical and research hub focused on climate funding, emissions reporting, and carbon expert training to support a low-carbon economy.

In a separate regulatory move, the FRA approved 11 new companies and entities to conduct various non-banking financial activities. These approvals include the establishment of special purpose acquisition companies (SPACs) like Tafra Investment Group and Spark SPAC, real estate investment funds, agricultural investment funds, and several debt collection and healthcare third-party administration companies.