The approval comes pursuant to the decision of the FRA No 268 of 2019 issued in February to regulate the practice of borrowing securities for the purpose of selling.
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The Egyptian Financial Regulatory Authority (FRA) has officially launched the electronic registry of movable assets that enables micro, small, and medium entrepreneurs to obtain additional financing for their projects by leveraging equipment and machines they own or what they intend to buy. Mohamed Omran, FRA chairperson, said at a press conference that Egypt was the …