Chairman of the Financial Regulatory Authority (FRA) Mohammed Omran discussed in a meeting with a delegation from the American Chamber of Commerce in Egypt (AmCham Egypt) ways of luring investments to the non-banking financial sector.
Omran briefed the AmCham delegation on the measures taken by the FRA to attract foreign investments to this sector, citing a recent initiative launched last November to establish a financing mechanism for start-ups, innovations and digital technologies, according to a statement released by the authority on Sunday.
The FRA head welcomed the AmCham delegation’s interest in Special Purpose Acquisition Companies (SPACs) and their desire to coordinate with the authority to draw further green investments and set up new investment funds for start-ups, the statement added.
Omran promised to consider a proposal by the AmCham group to provide greater flexibility for investment funds, so that investment managers, especially private equity funds, could find emerging companies, whether they are on the SMEs exchange or from outside, the statement read.
