Politics
Egypt's Financial Regulatory Authority Raises Auditor Capacity to Five Funds, Citing Growth in Investment Funds
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Egypt's Financial Regulatory Authority Raises Auditor Capacity to Five Funds, Citing Growth in Investment Funds
The Financial Regulatory Authority (FRA) board has approved increasing the number of investment funds a single auditor may review from three to five.
- FRA Chairman Islam Azzam stated the decision aims to provide more flexibility and reduce financial burdens on funds as their total has risen to 190.
- Azzam added that the FRA received requests to allow auditors to handle more funds, reflecting the sector's expansion.
- As of the first quarter of 2026, net assets of investment funds reached 410.6 billion Egyptian pounds, up from 316 billion at end-2025.
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