Arab Finance: The Financial Regulatory Authority (FRA) has approved the incorporation, registration, or licensing of 11 companies and entities across several non-banking financial activities, as per a statement.

The decisions span special purpose acquisition companies (SPACs), investment funds, reinsurance brokerage, debt collection, and third-party administration (TPA) services for healthcare programs.

The FRA cleared the establishment of Tafra Investments as a SPAC operating in acquisition-focused venture capital and licensed Spark Acquisition Corporation to undertake the same activity. The approvals are intended to broaden investment opportunities and support market activity.

In the real estate segment, Emtelaak received a license to operate as a real estate investment fund, expanding the range of specialized investment instruments linked to the property sector.

The regulator also approved the establishment of Morooj Agricultural Investment Fund as a multi-tranche private equity fund, alongside Medmark.

Moreover, four companies were added to the FRA’s registry of businesses authorized to collect financial dues on behalf of non-banking finance companies and entities. The newly registered firms are Zain Inquiry and Collection, Al-Riyada, SAZ Collection, and Abushady Collection, bringing the total number of registered debt collection companies to eight.

The FRA also granted temporary licenses to Misr Healthcare Network and SehaOne Egypt to provide TPA services for healthcare programs. The latest approvals raised the number of temporary licenses issued for the activity to 11.

The approvals fall within the FRA’s mandate to supervise and regulate non-banking financial markets and instruments, including capital markets, futures exchanges, insurance, mortgage finance, financial leasing, factoring, and securitization.