نورهان فؤاد
- The Egyptian Financial Regulatory Authority (FRA) has officially licensed Thunder Technology Holding to operate investment portfolio management and investment fund management.
- The licensing decision was issued by the FRA’s Founding and Licensing Committee, the body responsible for supervising non-banking financial activities.
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The committee’s powers include approving activity additions, amending company bylaws, authorizing branches, and handling liquidation or temporary suspension requests.
The Egyptian Financial Regulatory Authority (FRA) has approved a new license for Thunder Technology Holding for Financial Investments, allowing the company to engage in investment portfolio formation and management, as well as investment fund management, as an addition to its primary business activities.
The decision was issued by the Founding and Licensing Committee—the committee responsible for overseeing companies operating in non-banking financial activities, in accordance with FRA Chairman’s Decision No. 3060 of 2023. This committee has the authority to approve the establishment and licensing of companies operating under FRA supervision, as well as authorize the addition of new activities and mechanisms.
The committee’s responsibilities also include amending company bylaws, granting initial or final approvals for such amendments, and approving employee incentive and reward systems. It is also responsible for reviewing decisions issued by general assemblies of companies operating in the securities and consumer finance sectors.
Furthermore, the committee has jurisdiction over approving the opening, relocation, or closure of branches for companies operating in non-banking financial activities. It also reviews applications for liquidation, temporary suspension of activity, voluntary suspension, and the registration, renewal, or removal of founding agents of such companies.
This new license strengthens Thunder Technology Holding’s position within Egypt’s non-banking financial services sector and supports its expansion into broader investment management activities.
