Latest in Tag: SME Highlight

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Latest in Tag: SME

Egypt’s Financial Regulator approves 1st SME funding licence in NBFC sector

Egypt’s Financial Regulatory Authority (FRA) has agreed to grant the first licence for small and medium enterprise (SME) funding to a company operating in the microfinance sector.  This licence allows the company to provide financing to SMEs for the first time in the non-banking financial sector (NBFC).  This implements the latest legislative amendment issued in …

Alyaa Stohy

FRA reduces fees for SME examination, study services by 50%

The discount will be applied in a range of circumstances when SMEs apply to obtain the FRA’s approval for public offering prospectuses. It is to be applied during incorporation or capital increase, and when shares are issued for a merger, split, or in case of issuing shares in excess of profits or reserves.

Alyaa Stohy

Attijariwafa Bank, Global Lease sign SME support protocol

Attijariwafa Bank Egypt and Global Lease Company have signed a joint protocol to support the small and medium-sized enterprises (SMEs), through financing the capital expansions and providing financial leasing services. Under this protocol, Attijariwafa Bank will focus on regulating, financing, and collecting the agreed instalments, while Global Lease will act as the lessor and collateral …

Hossam Mounir

Egyptian banks increase their SME credit by EGP 136bn in 3 years

Egyptian banks increased their SMEs credit by EGP 136bn from end-2015 till end-2018, benefiting about 522,000 foundations, Gamal Negm, deputy governor of the Central Bank of Egypt (CBE), said on Tuesday. The banking sector allocated 65% of its loans to the private sector, Negm said before an IMF conference on its paper about Financial Inclusion …

Hagar Omran