Arab Finance: The Financial Regulatory Authority (FRA) approved 10 new non-banking financial activities licenses and approvals as part of its efforts to enhance the quality and competitiveness of the sectors under its supervision, attract investment, and expand access to financial services, as per a statement.
The approvals included licensing International for Credit Rating Solutions to operate in securities valuation, rating, and ranking, making it the second company licensed for this activity in the Egyptian market and the first to receive a license under FRA decision No. 178 of 2025, which sets the criteria for evaluating license applications in this field.
The FRA also licensed Sigma Capital and Aspire Securities and Bonds to operate as futures brokers, raising the total number of companies licensed to conduct this activity to eight since the launch of the financial derivatives market on the Egyptian Exchange (EGX).
In the insurance sector, the regulator granted a temporary license to Med Right to operate as a specialized medical insurance company, making it the first company to receive a temporary license under the Unified Insurance Law No. 155 of 2024 and FRA decision No. 90 of 2025.
The authority also issued a temporary license to Nextcare to operate as a healthcare program management company, bringing the total number of temporarily licensed companies in this activity to eight since the Unified Insurance Law came into effect.
The approvals further included licensing CO Wealth Advisory to operate a real estate investment fund, granting CO Wealth Advisory a license to promote and underwrite securities and manage real estate investment funds, and licensing Thndr to operate a real estate investment fund.
In addition, the FRA approved a license for Commercial International Finance Company (CIFC) to conduct financial leasing activities alongside its existing operations, subject to compliance with the authority's standard financial leasing contract templates. It also licensed Halan to carry out real estate finance and factoring activities.
These approvals fall within the FRA mandate to regulate and supervise non-banking financial markets and instruments, including capital markets, futures exchanges, insurance, real estate finance, financial leasing, factoring, securitization, and the licensing of companies operating in these sectors.
