Thndr Among 10 Companies Granted Licenses by Egypt's FRA
Egypt's Financial Regulatory Authority has licensed 10 companies including Thndr and Halan to operate in areas such as derivatives brokerage, real estate investment funds, and insurance. The approvals expand competition in non-banking financial services.
Egypt’s Financial Regulatory Authority (FRA), chaired by Dr. Islam Azzam, has granted 10 new licenses covering a range of non-banking financial activities, including capital markets, insurance, and alternative financing. The move deepens Egypt’s non-banking financial ecosystem and broadens competition across multiple sectors.
License Details
Among the approvals is a license for the International Company for Credit Rating Solutions to provide securities evaluation, rating, and ranking services, making it Egypt’s second operational credit rating agency. The regulator also approved Sigma Securities Brokerage and Aspire Securities and Bonds Brokerage to operate in futures brokerage, bringing the total number of companies licensed in derivatives to eight since the launch of the Egyptian Exchange’s derivatives market.
In the insurance sector, MedRight Health Solutions received a temporary license to practice specialized medical insurance, becoming the first company to obtain such a license under the Unified Insurance Law No. 155 of 2024 and FRA Resolution No. 90 of 2025. NextCare secured a temporary license to manage healthcare programs, raising the total number of temporarily licensed healthcare management companies to eight.
The FRA also licensed Co-Wealth Fund Company to operate a real estate investment fund and granted it approvals for securities promotion, underwriting, and real estate investment fund management. Thndr for Real Estate Asset Investment was also licensed to operate a real estate investment fund.
Commercial International Finance Company (CIFC), a wholly owned non-banking financial subsidiary of Commercial International Bank (CIB), received a license to practice financial leasing, subject to adherence to FRA-approved standard leasing contract templates. Additionally, Halan obtained licenses to offer both real estate finance and factoring services.
The approvals reflect the FRA’s continued implementation of recent regulatory frameworks, including the Unified Insurance Law and new criteria for credit rating agency licenses. The newly licensed companies are now expected to begin operations under the FRA’s supervision, expanding access to financial services in Egypt.
Source: Thndr