The Egypt Financial Regulatory Authority has issued a board decision allowing an external auditor to review up to five investment funds at the same time, up from three, under the rules governing investment fund activity by banks and non-bank financial firms. Any review of more than five funds by the same auditor will require the authority's prior approval, based on criteria it will set. The change amends Article 7 bis 2 of the 2018 rulebook and is intended to give investment funds and auditors more flexibility while reducing costs as the market expands. The authority said the number of investment funds has risen to about 190 from 172 at the end of last year, and that it had received requests to let a single auditor cover more funds. It also referred to existing requirements under the executive regulations of the Capital Market Law and its own decisions on auditor independence and the minimum number of auditors depending on a fund's legal form. Net assets of investment funds reached about EGP 410.6 billion in the first quarter of 2026, compared with EGP 316 billion at the end of December 2025.
Egypt Financial Regulatory Authority2026-07-13
Egypt Financial Regulatory Authority raises the audit cap to five investment funds per auditor
The Egypt Financial Regulatory Authority has allowed one auditor to review up to five investment funds at once, instead of three, with prior approval required to exceed that limit. The change is meant to add flexibility and reduce costs as the number of funds has grown to about 190 and sector net assets reached EGP 410.6 billion in the first quarter of 2026.