The Financial Regulatory Authority (FRA), led by Dr. Islam Azzam, has just given the green light to 10 new approvals for non-banking financial activities. This is a big step aimed at expanding the range of activities the FRA oversees, making non-banking financial markets more efficient, and boosting their ability to attract investments. It also means more financial services will be available for both individuals and companies. **Second company for credit rating in the Egyptian market** Among these approvals, International Credit Rating Solutions Company received a license to evaluate, rate, and rank securities. This makes them the second company to operate in this field within the Egyptian market, and the first to get licensed under the FRA's Resolution No. (178) of 2025, which sets the criteria for licensing applications. The FRA also approved licenses for Sigma Securities Trading and Aspire Securities and Bonds Trading to operate as brokers for futures contracts. This brings the total number of licensed companies in this activity to 8 since the derivatives market launched on the Egyptian Exchange. **First specialized medical insurance license and approvals in the healthcare sector** The Authority granted a temporary license to MedRight Health Solutions Company to operate in specialized medical insurance. This makes them the first company to receive such a license under the Unified Insurance Law No. (155) of 2024 and the FRA's Resolution No. (90) of 2025. Additionally, NextCare Company received a temporary license to manage healthcare programs. This increases the number of companies with temporary licenses in this activity to 8 since the Unified Insurance Law came into effect. **Approvals for real estate investment funds and financing activities** The approvals also included licensing the "Co-Wealth" Fund Company to operate as a real estate investment fund. Co-Wealth also received a license to promote and underwrite securities and manage real estate investment funds. Furthermore, Thunder Real Estate Asset Investment Fund Company was licensed to operate as a real estate investment fund. The FRA also approved a license for Commercial International Finance Company to engage in financial leasing activities, in addition to its current operations, provided it adheres to the FRA's approved financial leasing contract templates. Meanwhile, Hala Non-Banking Finance Services Company received a license to operate in both real estate finance and factoring activities. The Authority emphasized that these approvals are part of its supervisory and regulatory role over non-banking financial markets and activities. This includes capital markets, futures exchanges, insurance, real estate finance, financial leasing, factoring, and securitization. It also covers regulating and licensing companies working in these areas, all to support the growth and boost the competitiveness of the non-banking financial sector.
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