FRA raises external auditor cap to five funds

13. heinäkuuta 2026

Raportoinut AI

Egypt's Financial Regulatory Authority has increased the number of investment funds that external auditors may review at once from three to five.

The Financial Regulatory Authority, chaired by Islam Azzam, issued the decision on 13 July 2026. It amends Article 7 (bis 2) of FRA Board Resolution No. 58 of 2018.

Azzam stated that the change gives greater flexibility to funds and auditors while cutting operating costs. He noted the sector has grown, with the number of funds reaching around 190 compared with 172 last year.

In the first quarter of 2026 the net asset value of Egypt's investment funds stood at approximately EGP 410.6bn, up from EGP 316bn in December 2025. Auditors seeking to exceed the new limit must obtain prior FRA approval.

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