In a significant development for Egypt’s fintech sector, the Egyptian Financial Regulatory Authority (FRA) has granted Thunder Technology Holding a new license to manage investment portfolios and investment funds. This approval marks a pivotal step for the company, allowing it to broaden its scope within the country’s non-banking financial services landscape.
Expanding Financial Horizons
The new license officially permits Thunder Technology Holding to engage in the formation and management of investment portfolios and funds as an extension of its core business activities. This strategic expansion enables the company to offer a more comprehensive suite of investment products and services, catering to a wider range of investors and further solidifying its market presence.
Regulatory Green Light from the FRA
The approval was issued by the FRA’s Founding and Licensing Committee, the designated body responsible for supervising all non-banking financial activities in Egypt. Established under FRA Chairman’s Decision No. 3060 of 2023, this committee holds the authority to license new companies, approve the addition of new financial activities, and oversee amendments to company bylaws.
The committee’s mandate also includes supervising key corporate actions such as the opening or closing of branches, reviewing liquidation requests, and managing the registration of founding agents, ensuring a robust and well-regulated financial environment.
About Thunder Technology Holding
Thunder Technology Holding is the parent company of Thndr, a leading Egyptian digital investment platform. Thndr aims to democratize access to investment for individuals across the MENA region by providing a user-friendly mobile application to invest in stocks, mutual funds, and other financial instruments with no minimum investment requirements.
Source: entarabi
