The Financial Regulatory Authority (FRA), under Islam Azzam, has approved eight companies to engage in a range of non-banking financial activities as part of its ongoing efforts to enhance the efficiency and competitiveness of sectors under its supervision and expand financial services to support investment attractiveness and broaden the beneficiary base.
The approvals include the establishment of Beltone Real Estate Assets Investment Fund and Lantis Company for portfolio management, securities underwriting promotion and coverage, as well as investment fund management. The FRA also approved the licensing of Business Community Financial Investments Company to conduct venture capital activities.
In addition, licenses were granted to Al Salem Holding and Amgad Holding to participate in the establishment of companies issuing securities or in increasing their capital. The approvals also include licensing SAFE Company to conduct securities underwriting promotion and coverage activities, in addition to managing real estate investment funds.
The authority further approved granting Med Mark TPA a temporary license to engage in healthcare programs management activities (Third Party Administrator - TPA), as stipulated in the Unified Insurance Law No. 155 of 2024 and the FRA’s Decision No. 229 of 2025 concerning the regulatory framework governing the activity.
The approvals also included licensing Malaz Company to engage in consumer finance activities. The company had submitted its application for establishment and licensing before the issuance of FRA Decision No. 43 of 2026 in February, which suspended the acceptance of new incorporation requests and preliminary approvals for companies seeking licenses to operate in the consumer finance sector.