Latest news with #FinancialRegulatoryAuthority
Tahya Masr
3 days ago
- Business
- Tahya Masr
Madinet Masr sets a new standard for fractional real estate investment in Egypt
Madinet Masr (EGX: one of Egypt's leading real estate development companies, announced that SAFE (Secure Assets for Fixed Earnings), a first-of-its-kind fractional real estate investment platforms, is among the first platforms to apply under the Financial Regulatory Authority's (FRA) initiative to regulate the fractional real estate market. This step reflects Madinet Masr's ongoing commitment to shaping a secure, transparent, and future-ready investment, while driving innovation and enhancing investment accessibility in Egypt and beyond. SAFE is emerging as a reliable and innovative investment channel for income-generating real estate assets. Since its launch in December 2024, SAFE has handled transactions totaling nearly EGP 300 million in inventory value, facilitated the sale of over 5,600 property shares, and attracted more than 65,000 users within its first six months of operation. More than 3,500 investors have begun earning monthly rental yields starting from the month following their investment, with average annual returns of 10%, many of which are linked to the USD exchange rate. These milestones underscore the application's strong market positioning as one of the fastest growing proptech ventures in Egypt. By offering entry points starting at EGP 50,000 per share, the application is expanding access to real estate ownership while advancing Madinet Masr's strategic objective of promoting financial inclusion, enabling wealth creation, advancing the sector and supporting long-term sustainable development. Commenting on the milestone, Eng. Abdallah Sallam, President and CEO of Madinet Masr, said: 'SAFE embodies our vision for delivering innovative concepts that revolutionize real estate market by pioneering fractional ownership in Egypt. It reflects our strategic ambition to reshape the future of property investment by making it more inclusive, accessible, and digitally enabled. The momentum we've seen in just a few months confirms the market's appetite for innovative, secure, and flexible investment models that respond to the evolving needs of today's investors. He added: 'As an application, SAFE is a cornerstone of our broader innovation roadmap, supporting our vision to drive financial inclusion and sustainable economic growth through fractional ownership. As it evolves, the application will continue to empower individuals to build wealth through accessible and smart real estate investment solutions with a robust pipeline of projects valued at over EGP 1 billion expected within its first year. We are pleased to be among the first companies to apply under the Financial Regulatory Authority's (FRA) initiative to regulate the fractional real estate market." For his part, Salah Katamish, Senior Vice President of Investment & Strategy at Madinet Masr, commented: 'SAFE was engineered to simplify real estate investment without compromising on security, returns, or user experience. From onboarding to portfolio tracking, every aspect of the application was built to meet the expectations of today's digitally savvy investors. The early numbers show a clear and growing demand for flexible, high-yielding, and trustworthy property-backed investments. We are currently expanding our property pipeline and introducing new features, further enhancing the application's value proposition. As it continues to grow, SAFE remains committed to transparency, trust, and long-term value creation for its users, partners, and stakeholders.' Developed by Minka Development, a subsidiary of Madinet Masr, and launched under the umbrella of Madinet Masr Innovation Labs, SAFE is an application that introduces fractional ownership to the real estate sector. It promotes transparency, aligns with national regulatory standards, and strengthens investor confidence in the Egyptian real estate market. SAFE continues to advance as a reflection of Madinet Masr's steadfast commitment to innovation and financial inclusion. With plans underway to introduce the application to regional markets, the company remains focused on expanding SAFE's impact and accessibility. Guided by a clear future vision, Madinet Masr is paving the way for broader investment participation and sustained value creation across the real estate sector.
Zawya
3 days ago
- Business
- Zawya
Egypt: FRA approves Dice's capital hike
Arab Finance: The Financial Regulatory Authority (FRA) greenlighted Dice Sport and Casual Wear's capital hike, bringing the authorized capital to EGP 2.5 billion, instead of EGP 500 million, according to a bourse filing. Dice will also increase its issued and paid-up capital to EGP 535.993 million from EGP 357.328 million. The company will allocate EGP 178.664 million, distributed over 893.322 million shares, with a nominal value of EGP 0.20 per share. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Daily News Egypt
4 days ago
- Business
- Daily News Egypt
FRA, Italian Embassy explore cooperation in Egypt's growing non-banking financial sector
Mohamed Farid, Chairperson of the Financial Regulatory Authority (FRA), met with Italian Ambassador to Cairo, Michele Quaroni, and his accompanying delegation to discuss opportunities for cooperation in Egypt's rapidly expanding non-banking financial sector and to enhance Italian investments in this promising market. The meeting was also attended by FRA Vice Chairperson Islam Azzam, senior FRA officials, and members of the Italian Embassy's economic and investment team. During the meeting, Farid gave a detailed presentation on the latest regulatory and structural developments in Egypt's non-banking financial markets, particularly highlighting the introduction of the Unified Insurance Law. He described the law as a key milestone in modernising Egypt's legislative and regulatory framework for insurance, aimed at streamlining procedures, expanding digitalisation, and strengthening investor protections. Farid emphasised that the new law is central to improving the quality of insurance services, ensuring policyholder rights, and making the Egyptian market more attractive to foreign investors. He underlined the law's role in supporting Egypt's shift towards a more sustainable and competitive economy. The FRA Chairperson also outlined the Authority's recent initiative to launch a regulated voluntary carbon market, the first of its kind in the region under capital market supervision. This initiative is part of Egypt's broader green transition strategy and presents significant opportunities for Italian companies in clean technology and renewable energy—not just as investors, but as strategic partners in establishing new climate finance mechanisms. Farid stressed that this carbon market is designed to contribute to Egypt's national efforts to transition to a low-carbon, climate-resilient economy, aligned with global carbon neutrality goals. On the topic of financial technology and digital transformation, Farid noted that the FRA is working to build a regulatory environment that supports innovation. He highlighted several initiatives aimed at enhancing the digital infrastructure of the non-banking financial sector to promote financial inclusion and unlock new investment avenues, especially for Italian companies engaged in fintech. He added that the digitisation of non-banking financial services—particularly in insurance, capital markets, and microfinance—is essential to expanding access for all societal segments and aligns with Egypt's broader goals of financial and digital inclusion. 'We are racing against time to digitise non-banking services in support of start-ups and entrepreneurship,' Farid said, emphasising that fintech is a core driver of inclusivity and sectoral efficiency. Ambassador Quaroni expressed appreciation for the FRA's reform momentum and the rapid transformation of Egypt's non-banking financial market. He reiterated Italy's keen interest—at both the governmental and private sector levels—in exploring investment and partnership opportunities, particularly in the carbon market and the digital finance space. The Ambassador affirmed his commitment to facilitating closer cooperation through a series of technical meetings between relevant stakeholders from both countries to move forward on joint initiatives. Concluding the meeting, Farid reaffirmed the Authority's full commitment to maintaining close coordination with the Italian side. He noted that the FRA is ready to provide detailed briefings on key areas of mutual interest in order to translate these discussions into concrete investment partnerships that contribute to economic development in both countries.
Zawya
20-06-2025
- Business
- Zawya
Egypt: FRA extends submission deadlines for insurance companies' financial statements
Arab Finance: The Financial Regulatory Authority (FRA) has issued decision No. 126 of 2025 extending the deadlines for submitting periodic financial statements for insurance companies and insurance pools, as per a statement. This comes as part of ongoing efforts to ease procedural requirements and support sector growth. The decision, issued by the FRA's board of directors under the chairmanship of Mohamed Farid, applies to financial periods ending in March, June, and September 2025. Specifically, the submission deadline for statements covering the period ending March 31st, 2025, has been extended by one month to July 30th, 2025. For the period ending June 30th, 2025, the deadline has been extended by 15 days to September 15th, 2025. Similarly, the deadline for the period ending September 30th, 2025, has been extended by 15 days to December 15th, 2025. The resolution also allows an additional 15-day extension for the submission of consolidated financial statements from companies that include affiliated insurance entities. The FRA noted that the extension is intended to give insurance sector entities sufficient time to prepare financial statements in accordance with the rules and requirements issued under the Unified Insurance Law. The decision also takes into account companies' need for a revised timeframe following the adoption of resolution No. 183 of 2024, which set the start and end dates for financial periods and required quarterly financial statements starting 2025. These quarterly reports must include comparative figures from the same period in the previous year and comply with Egyptian accounting standard No. 50 on insurance contracts. They are to be reviewed and submitted with a limited review report from the company's auditor. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
19-06-2025
- Business
- Zawya
Egypt: Erada Finance launches islamic financing services after securing FRA license
Arab Finance: Erada Finance has launched a suite of Islamic financing services following its receipt of a Sharia-compliant financing license from the Financial Regulatory Authority (FRA), as per an emailed press release. This step positions Erada among the first companies to provide such offerings in the Egyptian market. The launch aligns with the company's strategic plan to broaden its financing solutions and support entrepreneurs and business owners through flexible, technology-driven financial services. The goal is to enhance economic empowerment and contribute to job creation through sustainable financing tools. Erada's Islamic financing is currently offered through two main programs: Murabaha and Investment Agency (Wakala Bil Istithmar). These are part of a wider product portfolio aimed at advancing financial inclusion and catering to the diverse needs of customer segments. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
