Egypt’s FRA grants Standard Chartered custodian bank licence

By Aya Anwar On Oct 27, 2024

Egypt Financial Supervisory Authority (FRA)

Egypt’s Financial Regulatory Authority (FRA) announced on Sunday that it had granted Standard Chartered Bank a licence to operate as a custodian in Egypt.The move will enable the British institution to expand its services in the North African country.

FRA’s decision aligns with its regulatory framework, including Law No. 93 of 2000 and its subsequent amendments.

This decision underscores the FRA’s commitment to strengthening Egypt’s financial sector by attracting global financial institutions and enhancing the market’s appeal to both domestic and foreign investors.

Attribution: FRA emailed statement

Subediting: Y.Yasser

Egypt’s Central Depository and Registry Law for Securities (Law No. 93 of 2000)Financial Regulatory Authority (FRA)global financial institutions Standard Chartered Standard Chartered Bank Standard Chartered PLC