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FRA approves establishment of national credit rating companies

The Board of Directors of Egyptian Financial Regulatory Authority (FRA), in its last session, approved the inclusion of a new amendment to the controls for granting licenses and the rules for owning shares in securities evaluating and grading companies.

That’s allowing the establishment of national credit rating companies.

Dr. Mohamed Omran, Chairman of FRA, said that the amendment will increase the existence of national credit rating companies in the non-banking financial sector in Egypt.