Arab Finance: The Financial Regulatory Authority (FRA) has approved the incorporation, registration, or licensing of 12 companies and entities across investment funds, securities services, debt collection, and medical insurance, as per a statement.

The approvals include the establishment of Taj Misr Tourism Real Estate Assets Investment Fund Company and Taj Misr Real Estate Fund Company as real estate investment funds. The FRA also approved the establishment of Taj Misr Securities and Real Estate Investment Fund Management.

In capital markets, Lantis Company for Portfolio and Investment Fund Management received a license to form and manage securities portfolios, manage investment funds, and promote and underwrite securities offerings. Al Ahly Green Agricultural Investment Fund Company was licensed to operate an open-ended agricultural investment fund.

The FRA also approved the establishment of Al-Manzalawi Venture Capital Company to acquire equity stakes in entities or special purpose acquisition companies (SPACs). Meanwhile, MNT-Halan and Azimut Investments Egypt received licenses to provide securities custody services.

Three companies were added to the FRA’s registry of debt collection firms serving the nonbanking financial sector: Trusty for Debt Collection and Field Inquiries, Prime Solutions Middle East for Debt Collection, and Taswya for Consulting and Debt Collection. This brings the total companies included in the registry to 11.

CarePlus Medical Network received a temporary license to provide specialized medical insurance, becoming the second company to hold a temporary license for the activity under the Unified Insurance Law No. 155 of 2024.