Minister of Planning Ashraf El-Araby will participate in the second conference on financial leasing, A New Vision for Activating Financing Instruments, which is taking place on 11 October in Cairo and will see the participation of a large number of bankers, investors, and major government officials.
During the main session, El-Araby will confer about the financial leasing mechanism from which the government benefits in financing the projects it is currently working on, and the possibility of benefiting from that tool in restructuring its companies. He will also confer about integrating financial leasing in the comprehensive development.
The state seeks to rely on the non-conventional financing instruments, including financial leasing to finance programmes to develop the assets of public sector companies and national projects, without relying on the state’s budget.
The conference will see the participation of more than 500 managers from the major companies operating in Egypt and representatives of financial leasing companies. The conference will focus on issues related to competitive and financial sustainability of the financial leasing sector across different economic sectors, such as real estate, transportation, software, tourism, and industry.
The Egyptian Financial Supervisory Authority (EFSA) announced earlier that the business of financial leasing grew by 12% in the first half of 2016 compared to the same period last year as the value of contracts reached EGP 11bn this year, compared to EGP 9.88bn in 2015. However, the number of contracts decreased from 1,367 to 1,239.