Egypt Financial Regulatory Authority licensing committee grants new licences and activity expansions across real estate investment, custody, factoring and mortgage finance

The Egypt Financial Regulatory Authority’s committee for the establishment and licensing of supervised companies issued a set of licensing and authorisation decisions for several non-banking financial services firms, covering a new real estate investment vehicle, custody services, and expanded permissions in securities-related activities, factoring and mortgage finance. The committee approved the licensing of Awaed Real Estate Investment Fund Company and the incorporation of Grow Holding to undertake participation in the incorporation of companies issuing securities or in capital increases. Insight Holding for Financial Investments was licensed for the same activity. Tanmia for Financial Leasing (EGY Lease) was authorised to add factoring to its existing purpose, while preliminary approvals were granted to add factoring to El Nile Financial Leasing and to add mortgage finance to the purposes of QNB’s financial leasing and factoring business. CFH Holding was licensed to conduct custody services. The authority also outlined that the committee’s remit includes approvals for incorporation and licensing, additions of activities, and related corporate and operational changes for supervised non-banking financial services firms.