Arab Finance: Three consortia of local firms, in cooperation with international institutions, are competing to obtain securities evaluation, classification, and arrangement activity license in Egypt, Asharq Business reported, citing the Financial Regulatory Authority (FRA).
The FRA has received three requests submitted by I Score consortium, in cooperation with Standard & Poors; Beltone Capital consortium, in cooperation with Crif Ratings; and MGM Financial & Banking Consultants consortium, in cooperation with Infomerics Valuation and Ratings.
The FRA stated that it seeks to select the best candidate, technically and financially speaking, adding that the submitted requests are currently under study by a committee formed by the authority.