FRA Approves Egypt’s First SPAC and Establishes New Regulatory Framework

October 29, 2024
On September 25, 2024, the Egyptian Financial Regulatory Authority (FRA) marked a milestone by approving the country’s first Special Purpose Acquisition Company (SPAC) under Decree No. 2323/2024. This move comes on...

Egypt’s New Unified Insurance Law: A Transformative Step for the Insurance Sector

October 29, 2024
Egypt introduced the Unified Insurance Law No. 155 of 2024, marking a significant overhaul of the regulatory framework governing the insurance and reinsurance sector. This comprehensive law, which consists of 224 ar...

Egypt – Consumer Finance Companies to Provide Payment Services Using Prepaid Cards

May 3, 2023
The Financial Regulatory Authority (“FRA”) issued Decree No. 61 for 2023 (“Decree”) to allow licensed consumer finance companies to provide payment services using prepaid cards on behalf of banks. The Decree authori...

Egypt Regulates the Enforcement of Startups Share Transfer under Convertible Instruments

June 18, 2022
The Egyptian Financial Regulatory Authority (FRA) issued Decree 68 for 2022 to amend the Rules of Trading of Unlisted Shares issued by virtue of Decree 94 for 2018 (the “Rules”). The amended Rules allowed Misr for C...

Egypt Allows SPAC Listing

November 20, 2021
With the accelerated rise of special purpose acquisition companies (SPACs) over the past years, the Financial Regulatory Authority (FRA) in Egypt has given its green light for the establishment and licensing of SPAC...