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Financial Authority approves 11 firms
The General Authority for Financial Control approved the establishment and licensing of 11 companies and entities to carry out non-banking financial activities, including the founding of investment funds and specialized companies. Among the decisions, licenses were granted to "Tafara" and "SparRK" to participate in venture capital and takeover activities, aiming to diversify investment opportunities and stimulate markets. Additionally, the "Emlak" real estate fund and the "Murooj" agricultural fund were licensed, along with the establishment of MideMark Reinsurance Brokerage Company. In the collection activity, four new companies were registered, bringing the total number of registered companies to eight. Furthermore, the health activity "TPA" received a temporary license for two companies, raising the total number of temporary licenses to 11. These decisions are part of the efforts to regulate the non-banking financial markets and strengthen supervision over them.
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