30th of August, 2015
New Detailed Regulation on Capital Solvency of Mortgage Companies
Keywords: Financial Institutions, Infrastructure & Projects, Commercial, Banking & Finance
The Board of Directors of the Egyptian Financial Supervisory Authority (EFSA) issued Decision 77/2015 that provides detailed regulations on the criteria for Capital Adequacy Ration (CAR) of Mortgage companies. A recent amendment to the Internal Regulations of the Mortgage Law 148/2001 delegated EFSA’s Board to determine these criteria.
New Detailed Regulation on Capital Solvency of Mortgage Companies
The Board of Directors of the Egyptian Financial Supervisory Authority (EFSA) issued Decision 77/2015 that provides detailed regulations on the criteria for Capital Adequacy Ration (CAR) of Mortgage companies. A recent amendment to the Internal Regulations of the Mortgage Law 148/2001 delegated EFSA’s Board to determine these criteria.
The main highlights of the Board decision are the following:
- The company shall prepare a report on the CAR of the company on a quarterly basis based on the financial sheets.
- The company shall maintain a statutory percentage of 10% ratio between “capital base” and “risk assets”. The appendix (1) to the decision illustrates the assets considered as capital base and the assets associated with risk.
- Mortgage companies shall start applying this decision on the financial sheets submitted on 30/9/2015.
A copy of the decision (Arabic) can be accessed here.
| New Detailed Regulation on Capital Solvency of Mortgage Companies |
| The Board of Directors of the Egyptian Financial Supervisory Authority (EFSA) issued Decision 77/2015 that provides detailed regulations on the criteria for Capital Adequacy Ration (CAR) of Mortgage companies. A recent amendment to the Internal Regulations of the Mortgage Law 148/2001 delegated EFSA’s Board to determine these criteria.
The main highlights of the Board decision are the following:
A copy of the decision (Arabic) can be accessed here. |
New Detailed Regulation on Capital Solvency of Mortgage Companies
30 August, 2015
Keywords: Financial Institutions, Infrastructure & Projects, Commercial, Banking & Finance
The Board of Directors of the Egyptian Financial Supervisory Authority (EFSA) issued Decision 77/2015 that provides detailed regulations on the criteria for Capital Adequacy Ration (CAR) of Mortgage companies. A recent amendment to the Internal Regulations of the Mortgage Law 148/2001 delegated EFSA’s Board to determine these criteria.
New Detailed Regulation on Capital Solvency of Mortgage Companies
The Board of Directors of the Egyptian Financial Supervisory Authority (EFSA) issued Decision 77/2015 that provides detailed regulations on the criteria for Capital Adequacy Ration (CAR) of Mortgage companies. A recent amendment to the Internal Regulations of the Mortgage Law 148/2001 delegated EFSA’s Board to determine these criteria.
The main highlights of the Board decision are the following:
- The company shall prepare a report on the CAR of the company on a quarterly basis based on the financial sheets.
- The company shall maintain a statutory percentage of 10% ratio between “capital base” and “risk assets”. The appendix (1) to the decision illustrates the assets considered as capital base and the assets associated with risk.
- Mortgage companies shall start applying this decision on the financial sheets submitted on 30/9/2015.
A copy of the decision (Arabic) can be accessed here.
| New Detailed Regulation on Capital Solvency of Mortgage Companies |
| The Board of Directors of the Egyptian Financial Supervisory Authority (EFSA) issued Decision 77/2015 that provides detailed regulations on the criteria for Capital Adequacy Ration (CAR) of Mortgage companies. A recent amendment to the Internal Regulations of the Mortgage Law 148/2001 delegated EFSA’s Board to determine these criteria.
The main highlights of the Board decision are the following:
A copy of the decision (Arabic) can be accessed here. |
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