FRA Approves Ten Firms to Conduct Non-Banking Financial Activities

Egypt’s Financial Regulatory Authority has approved licences for 10 companies to operate across a range of non-banking financial activities, as part of efforts to strengthen governance and support sector development.

The approvals cover multiple segments within the financial services market, including venture capital, brokerage, portfolio management, custody and insurance services.

Among the licensed firms, OG Capital Acquisition Investments Company was authorised to conduct venture capital activities, while Arabia Online Brokerage Company received approval for dealing and brokerage in bonds.

Sawari Ventures Company was licensed to manage portfolios and investment funds, and Acumen Holding for Financial Investments was approved to engage in investment fund activities independently or in partnership.

Additional approvals include Halan Securities Brokerage Company for handling subscriptions in investment fund units and Wellesley Financial Holding Company for custody services.

Beltone Securities Trading Company was authorised to conduct futures brokerage after adding the activity to its corporate objectives.

In healthcare and insurance-related services, Smart Care Medical Services received a temporary licence to manage healthcare programmes, while Riyada Insurance Brokerage and E-Guardians Insurance Brokerage were approved for registration in the insurance brokers registry.

The approvals were issued by the Committee for the Establishment and Licensing of Companies, formed under FRA Chairperson Decision No. 3060 of 2023, which oversees the incorporation and licensing of companies operating in non-banking financial activities.