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Chairman of the Egyptian Financial Supervisory Authority (EFSA) Sherif Samy said the amendments on the executive regulations of the capital market, which are expected to be approved by the parliament, will enable charitable funds to invest freely without adhering to specific investment schemes. The cash funds will have the right to invest in stocks, deposits, …
The EFSA announced on 19 August the approval of the Economic Legislation Committee of the Supreme Committee for Legislative Reform of the proposed amendments to the Capital Market Law, with only a few comments on the draft.
More bonds could be issued to finance mega projects, says Sherif Samy
The Egyptian Financial Supervisory Authority (EFSA) is participating in the “Mortgage Development Partners” conference, taking place on 12 May, as part of the “Partnership for Development” initiative. The conference targets community dialogue involving all professional sectors interested in mortgage activities and benefiting from it. It will discuss the opportunities and challenges facing the mortgage system …
EFSA expresses surprise at decision taken without GAFI approval
Rachid Mohamed Rachid has account in HSBC worth $31m illegally
Head of the Egyptian Financial Supervisory Authority (EFSA) Sherif Sami said on Thursday that four investment funds have been established in 2014; therefore the total amount of investment funds in Egypt is 95. The total amount of cash in these funds was valued at EGP 6.5bn by the end of 2014, increasing by EGP 851m …
Real estate firm aims to increase their capital from EGP 3.5bn to EGP 6bn
Resolution determined companies’ promulgated capital is not less than EGP 15m, paid-up capital not less than 50% of minimum rate of doubtful debts
Al-Nour Company for Dairy Product offers EGP 58 per share
The insurance sector contributed EGP 48.5bn to the national economy during the current year
Microfinance law is most important economic legislation issued since January 2011, claims Sherif Samy
Abraaj Group originally wanted to acquire at least 51% stake of Bisco Misr shares as per July announcement
The effect of the CBE mortgage finance initiative to finance low-income housing projects will be felt in the second half of the year, says Cairo University professor
The head of the Credit Agricole Treasury said that the bank will cover any government proposals for international bonds in a commentary on the government’s intention to put up bonds worth $750m in the near future.
Egypt’s Tourism Assistance Fund is looking for annual returns of 25% on investments, or $250m in the first phase of underwriting, according to Amr Askar, investment manager at Cairo Financial Holding. The first phase will take place directly after the Egyptian Financial Supervisory Authority (EFSA) adopts the prospectus. Askar added in a statement to Al-Borsa …
Hermes appoints financial advisor to assess share value in Sawiris purchase offer, financial oversight body asks for clarifications
Agreement aims to enhance cooperation between the two authorities
By Ahmed Abou El Saad and Eric Swats The Egyptian economy Since 2011, Egypt has been hit hard by both ongoing political volatility and social unrest. Four key economic indicators have underscored this reeling economy: an increase in T-Bill rates, a decrease in Net International Reserves, the depreciation of the Egyptian pound (EGP) and a …
Mutual funds will help boost economic growth, Omran says
The government amended the Real Estate Finance law to expand eligibility for mortgage subsidies and increase grants to low-income families
Three-day programme aims to deepen the awareness of risk management, accounting standards, investment policies, actuarial reports and financial solvency standards of private funds
The agreement applies to mortgage companies that fund individuals who are willing to purchase or construct properties in new cities affiliated with the New Urban Communities Authority.
T+0 more like gambling than trading, says one expert
A joint committee between the Customs Duty Officers Union in Alexandria and the city’s Customs Department will meet with EFSA within the next several days.
The president of EFSA called for the current sukuk law to be amended, as it does not adequately punish those who would launder money using sukuk
EFSA has approved QNB’s offer of EGP 38.65 per share for 100% of NSGB’s shares
Egypt hosting the summit reflects confidence in the country’s economic future, said keynote speaker and minister of finance, Al-Morsi Hegazy
The sovereign sukuk law released by the government is intended to organise the financing of the government, state budget, national projects and public institutions.
Draft law only regulates sukuk issued by companies and legal persons