Arab Finance: The Financial Regulatory Authority (FRA) has issued controls regulating the operation of the Robo-Advisor for Investment program, as per a statement on May 26^th.

The program allows securities portfolio management companies licensed by the FRA to offer automated financial advisory services regarding investment in securities listed on the Egyptian Exchange (EGX).

As per the controls, securities portfolio management firms seeking to use the Robo-Advisor program shall have a minimum issued and paid-up capital of EGP 15 million to obtain the license.

Moreover, the company’s equity shall not be lower than its paid-up capital when it applies to the authority.

On April 22^nd, The FRA announced its plan to license the Robo-Advisor program to aid investors in managing investment as a digital financial advisor.

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