FRA approves establishment of 2 firms for real estate fund, capital market services
Updated 11/30/2025 10:48:00 AM
Arab Finance: The Financial Regulatory Authority (FRA) has approved the establishment of two companies: one specializing in real estate funds and the other in the formation of firms issuing securities or increasing their capital, according to a statement issued by the authority.
The approvals cover Imtilak Real Estate Projects Fund Company, which will operate in real estate investment, and Fawry Holding for Financial Investments, which will participate in establishing companies issuing securities or raising their capital.
The approvals were issued by the committee for the establishment and licensing of companies subject to FRA supervision.
Under the FRA Chairman’s decision No. 3060 of 2023, the committee is responsible for authorizing the establishment and licensing of companies operating in non-banking financial activities, as well as approving requests to add activities or modify operating mechanisms.
Its mandate also includes overseeing changes related to the entry or exit of companies in the securities and consumer finance sectors.
The committee’s responsibilities extend to amending articles of association of supervised companies, issuing preliminary and final approvals, evaluating incentive and reward systems, and reviewing requests to suspend resolutions issued by general assemblies of companies in the securities and consumer finance sectors.
It also approves the opening, relocation, and closure of branches of non-banking financial companies, along with requests for liquidation, temporary suspension of activity, or voluntary suspension.
In addition, the committee handles the registration, renewal, and deregistration of founding agents for companies operating in the non-banking financial sector.
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