{"id":600900,"date":"2019-02-13T04:17:43","date_gmt":"2019-02-13T04:17:43","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/13\/egypts-fra-makes-insurance-mandatory-for-microfinance-provider\/"},"modified":"2019-02-13T04:17:43","modified_gmt":"2019-02-13T04:17:43","slug":"egypts-fra-makes-insurance-mandatory-for-microfinance-provider","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/13\/egypts-fra-makes-insurance-mandatory-for-microfinance-provider\/","title":{"rendered":"Egypt\u2019s FRA makes insurance mandatory for microfinance provider"},"content":{"rendered":"

REGULATION WATCH- FRA makes insurance mandatory in micro- and SME finance: <\/b>The Financial Regulatory Authority (FRA) is forcing microfinance and SME finance players to provide insurance coverage for their borrowers, the authority said in a statement (pdf)<\/a>. The contracts will pay out an amount equivalent to the loans in the event of death or severe disability of borrowers, and lenders will not be allowed to mark up the cost of the coverage. The decision also includes provisions that allow microfinance lenders to demand that SMEs or the project that they would fund be insured.<\/p>\n","protected":false},"excerpt":{"rendered":"

REGULATION WATCH- FRA makes insurance mandatory in micro- and SME finance: The Financial Regulatory Authority (FRA) is forcing microfinance and SME finance players to provide insurance coverage for their borrowers, the authority said in a statement (pdf). The contracts will pay out an amount equivalent to the loans in the event of death or severe […]<\/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":[72,180,311,595,343,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-600900","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-legislation","tag-microfinance","tag-non-banking-financial-services","tag-regulation","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"58f4820f-ec34-4e4e-9b5b-f91ff143e66a","is_powered_by":true,"section_story_id":"20071d43-f184-42ad-9b78-98b135da37d4","story_type":"1","photo_url":"","photo_position":"above","related_issue":[600886],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s FRA makes insurance mandatory for microfinance provider - 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\/02\/13\/egypts-fra-makes-insurance-mandatory-for-microfinance-provider\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s FRA makes insurance mandatory for microfinance provider\" \/>\n<meta property=\"og:description\" content=\"REGULATION WATCH- FRA makes insurance mandatory in micro- and SME finance: The Financial Regulatory Authority (FRA) is forcing microfinance and SME finance players to provide insurance coverage for their borrowers, the authority said in a statement (pdf). The contracts will pay out an amount equivalent to the loans in the event of death or severe […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/13\/egypts-fra-makes-insurance-mandatory-for-microfinance-provider\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-13T04:17:43+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<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/13\/egypts-fra-makes-insurance-mandatory-for-microfinance-provider\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/13\/egypts-fra-makes-insurance-mandatory-for-microfinance-provider\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s FRA makes insurance mandatory for microfinance provider\",\"datePublished\":\"2019-02-13T04:17:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/13\/egypts-fra-makes-insurance-mandatory-for-microfinance-provider\/\"},\"wordCount\":103,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"legislation\",\"microfinance\",\"non-banking financial services\",\"regulation\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/13\/egypts-fra-makes-insurance-mandatory-for-microfinance-provider\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/13\/egypts-fra-makes-insurance-mandatory-for-microfinance-provider\/\",\"name\":\"Egypt\u2019s FRA makes insurance mandatory for microfinance provider - 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This will make the company \u2014 which also received the country\u2019s first SME microfinancing\u2026","rel":"","context":"In "SPEED ROUND: FINANCE"","block_context":{"text":"SPEED ROUND: FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/429.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598384,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/23\/egypts-fra-to-bring-sme-financing-under-2014-microfinance-law\/","url_meta":{"origin":600900,"position":1},"title":"Egypt\u2019s FRA to bring SME financing under 2014 microfinance law","author":"enterpriseam admin","date":"23 May 2019","format":false,"excerpt":"LEGISLATION WATCH- FRA to bring SME financing under 2014 microfinance law: Dedicated SME lenders including finance companies and NGOs could be governed under the 2014 microfinance law (pdf) after the Financial Regulatory Authority\u2019s (FRA) board of directors approved amendments to the legislation, the regulator said in a statement (pdf). 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":575952,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/04\/new-regulatory-framework-for-sme-lenders-announced\/","url_meta":{"origin":600900,"position":2},"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). Any company seeking an SME lending license must be at least 50% owned by juridical\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":578913,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/18\/new-fra-regulations-aim-to-help-insulate-ins-companies-from-credit-risk-of-borrowers\/","url_meta":{"origin":600900,"position":3},"title":"New FRA regulations aim to help insulate ins. companies from credit risk of borrowers","author":"enterpriseam admin","date":"18 January 2023","format":false,"excerpt":"FRA hands down new regulations controlling ins. against credit risks: The Financial Regulatory Authority (FRA) has issued new regulations designed to mitigate credit risk for ins. companies, it said in a statement on Monday. 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