The Clap
The Financial Regulatory Authority (FRA) has issued several decisions to aid in account opening at brokerage companies & ease the distribution of dividends.
Deets
Brokerage companies or companies with a custodian license can now leverage technology to better facilitate the account opening process.
The FRA will also allow companies whose shares are centrally deposited to distribute dividends to foreigners with no Egyptian bank accounts in the way the FRA sees best.
You should know
Centrally deposited shares are registered, recorded & maintained through an electronic system, rather than the old system when shares were physical paper.
So what
The first decision aims to increase the amount of EGX-registered accounts, while the second decision makes it easier for foreigners to collect their dividends.
Now what
The FRA is working toward improving the investing ecosystem, & has been making decisions that help ease the process of listing & trading.
