Wednesday 18/February/2026 – 02:31 PM
The Committee approved the establishment and licensing of companies subject to the supervision of the General Authority for Supervision Finance And its branches, to establish and license 6 entities to practice activities subject to the supervision of the Authority, which are participation in establishing companies that issue securities or in visiting their capital, brokerage in insurance, dealing, mediation and brokerage in bonds, and promotion and coverage of securities subscriptions.
The committee issued approval to license Olive Misr Holding Company to practice the activity of participating in establishing companies that issue securities or in increasing their capital. It also approved a license to Taqa Financial Investments Company and Fawry Holding Company for Financial Investments to practice the same activity.
Establishing companies operating in the field of non-banking financial activities
The committee also approved a license for Tharaa Company to practice insurance brokerage activity, and the committee approved a license for Beltone Securities Trading Company to practice the activity of dealing, mediation and brokerage in bonds. In addition, the committee approved a license for Emirates NBD Bank to practice the activity of promoting and underwriting securities subscriptions.
The Committee for Establishment and Licensing of Companies Subject to the Authority’s supervision is concerned, in accordance with the Chairman of the Authority’s Decision No. 3060 of 2023, with approving the establishment of companies operating in the field of non-banking financial activities subject to the Authority’s supervision and control, and licensing them to practice the activity.
The committee’s powers include amending the bylaws of companies subject to the Authority’s supervision and control, issuing initial or final approval for them, approving reward and incentive systems and the amendments thereto, and expressing an opinion on halting the decisions of the general assemblies of companies operating in the field of securities and consumer finance companies.
The committee is also responsible for approving requests to add activities and mechanisms for companies operating in the field of non-banking financial activities, and changing the umbrella of the law, whether entering or exiting companies operating in the field of securities, and companies operating in the field of consumer finance.
As well as approving the opening, transfer and closure of branches of companies operating in the field of non-banking financial activities, in addition to approving requests for liquidation and temporary suspension of activity and moratorium, in addition to approving requests for the registration, renewal and cancellation of agents of founders of companies operating in the field of non-banking financial activities.
