{"id":594645,"date":"2019-09-03T04:07:57","date_gmt":"2019-09-03T04:07:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/03\/fra-to-issue-licenses-for-sme-credit-rating-agencies\/"},"modified":"2019-09-03T04:07:57","modified_gmt":"2019-09-03T04:07:57","slug":"fra-to-issue-licenses-for-sme-credit-rating-agencies","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/03\/fra-to-issue-licenses-for-sme-credit-rating-agencies\/","title":{"rendered":"FRA to issue licenses for SME credit rating agencies"},"content":{"rendered":"

<\/a> REGULATION WATCH- Market regulator paves the way for SME bond sales:<\/b> SMEs will soon be able to issue short- and medium-term bonds after the Financial Regulatory Authority (FRA) gave the go-ahead to SME credit rating agencies to obtain licenses, the regulator said in a statement (pdf)<\/a>. FRA Chairman Mohamed Omran said the move aims to make it easier for SMEs to finance capital expenditure.<\/p>\n

Background: <\/b>The FRA last year defined<\/a> the framework and regulations governing short-term debt instruments as part of amendments to the Capital Markets Act\u2019s executive regulations. According to the rules, the issuer must present financial statements going back at least two financial years that have been audited by an FRA-listed auditor. They must also have a credit rating of at least BBB- (or an equivalent) and must appoint a FRA-approved lead manager who should ensure buyers are in good financial standing. Qualified buyers must be solvent and, in the case of individual investors, have at least three years of investing, banking or finance experience.<\/p>\n","protected":false},"excerpt":{"rendered":"

REGULATION WATCH- Market regulator paves the way for SME bond sales: SMEs will soon be able to issue short- and medium-term bonds after the Financial Regulatory Authority (FRA) gave the go-ahead to SME credit rating agencies to obtain licenses, the regulator said in a statement (pdf). FRA Chairman Mohamed Omran said the move aims to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,76,343,287,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-594645","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-financial-regulatory-authority","tag-regulation","tag-smes","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"1cf3331a-3dd7-47ef-bc25-c62dfd263c73","is_powered_by":true,"section_story_id":"593a8a91-9e44-4e4c-a5e1-297518ef62e8","story_type":"1","photo_url":"","photo_position":"above","related_issue":[594633],"teaser":"","voice_url":""},"yoast_head":"\nFRA to issue licenses for SME credit rating agencies - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/03\/fra-to-issue-licenses-for-sme-credit-rating-agencies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FRA to issue licenses for SME credit rating agencies\" \/>\n<meta property=\"og:description\" content=\"REGULATION WATCH- Market regulator paves the way for SME bond sales: SMEs will soon be able to issue short- and medium-term bonds after the Financial Regulatory Authority (FRA) gave the go-ahead to SME credit rating agencies to obtain licenses, the regulator said in a statement (pdf). FRA Chairman Mohamed Omran said the move aims to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/03\/fra-to-issue-licenses-for-sme-credit-rating-agencies\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-03T04:07:57+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/03\/fra-to-issue-licenses-for-sme-credit-rating-agencies\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/03\/fra-to-issue-licenses-for-sme-credit-rating-agencies\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"FRA to issue licenses for SME credit rating agencies\",\"datePublished\":\"2019-09-03T04:07:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/03\/fra-to-issue-licenses-for-sme-credit-rating-agencies\/\"},\"wordCount\":177,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"Financial Regulatory Authority\",\"regulation\",\"SMEs\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/03\/fra-to-issue-licenses-for-sme-credit-rating-agencies\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/03\/fra-to-issue-licenses-for-sme-credit-rating-agencies\/\",\"name\":\"FRA to issue licenses for SME credit rating agencies - 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The contracts will pay out an amount equivalent to the loans in the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621744,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/18\/egypts-fra-says-consumer-credit-draft-in-final-stages\/","url_meta":{"origin":594645,"position":2},"title":"Egypt\u2019s FRA says consumer credit draft in final stages","author":"enterpriseam admin","date":"18 November 2018","format":false,"excerpt":"LEGISLATION WATCH- FRA says Consumer Credit Act is in its final stages: The Financial Regulatory Authority (FRA) is in the final stages of drafting the Consumer Credit Act, FRA boss Mohamed Omran said on Thursday, according to Al Mal. The legislation would bring companies selling consumer goods on installments under\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":627048,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/18\/fra-completes-capital-markets-act-regs-to-make-life-insurance-mandatory-for-sme-financing\/","url_meta":{"origin":594645,"position":3},"title":"FRA completes Capital Markets Act regs, to make life insurance mandatory for SME financing","author":"enterpriseam admin","date":"18 July 2018","format":false,"excerpt":"LEGISLATION WATCH- FRA completes Capital Markets Act regs allowing sukuks, margin trading, futures market, green bonds: The Financial Regulatory Authority (FRA) completed yesterday the final amendments on the executive regulations for the new Capital Markets Act, which include provisions that govern the issuing of green bonds, sukuk, margin trading, and\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597965,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/09\/egypts-fra-mulls-licensing-companies-and-intermediaries-to-act-as-sme-lenders\/","url_meta":{"origin":594645,"position":4},"title":"Egypt\u2019s FRA mulls licensing companies and intermediaries to act as SME lenders","author":"enterpriseam admin","date":"9 May 2019","format":false,"excerpt":"The Financial Regulatory Authority (FRA) is studying issuing licenses to allow companies and financial intermediaries to extend loans to SMEs, FRA boss Mohamed Omran told MENA, according to AMAY. The move comes as part of the authority\u2019s 2018-2022 strategy to promote financial inclusion through offering more diversified non-banking financial services.\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575952,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/04\/new-regulatory-framework-for-sme-lenders-announced\/","url_meta":{"origin":594645,"position":5},"title":"New regulatory framework for SME lenders announced","author":"enterpriseam admin","date":"4 November 2020","format":false,"excerpt":"REGULATION WATCH- SME lenders will need to be set up as joint-stock companies with a minimum capital of EGP 30 mn under a regulatory framework set out by the Financial Regulatory Authority (FRA) yesterday (pdf). 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