Arab Finance: The committee to establish and license companies under the supervision of the General Authority approved Financial oversightTo grant several licenses and amendments in the activities of a number of companies working in non -bank financial activities.
The approvals included the license of Al -Ahly of Al -Ahly – Egypt Financing Leasing by adding the dispensation activity to its purposes, and it also agreed to the license of the IFS Financial Solutions to add the financing leasing activity to its basic activity of the factoring.
Aspire Capital Holding Company for Financial Investments also obtained a license to start the investment funds activity, whether by itself or in partnership with others, in addition to granting the license to Ur Real Estate Finance to practice the activity.
In the same context, the committee agreed to reconcile the conditions of both the Arab African International Bank and the Alexandria Bank to register in the authority’s record, allowing them to deal with government financial papers and tools within the secondary market.
The committee is concerned, according to the decision of the Chairman of the Authority No. 3060 of 2023, to agree to the establishment and license of companies operating in the field of non -banking financial activities, in addition to considering requests to add or amend activities, and change the scope of companies' work, whether by entering under the umbrella of the law or leaving it.
The committee also includes the amendment of the basic systems of controlled companies, the approval of the installation and motivation systems and the amendments of public associations, as well as decisions related to opening, transporting or closing branches, liquidation requests or temporary or optional endowment of activity, in addition to deciding on restriction, renewal and deletion of corporate institutional agents.
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