The ِEgyptian Financial Supervisory Authority (EFSA) issued the first Egyptian standards for the financial evaluation of buildings on January 24.
In a statement published on their website, EFSA Head Sherief Sami announced that the standards target objectivity, protecting investors, and boosting the trust of financial institutions or other market players when evaluating securities for the purposes of subtraction, acquisitions, capital increases, contributions of investment funds, as well as other investment and financing decisions.
Sami stressed that those standards issued by Decree No. 1 for the year 2017 are mandatory for all independent financial advisors and their assistants. They shall also apply to all cases in which the law of the capital market, its executive regulations or rules of entry, and cancellation of stock requires conducting an evaluation of companies, securities or other assets taking the form of a building or a project.