EFSA and EBRD look into developing short-term debt instruments in Egypt

The Egyptian Financial Supervisory Authority (EFSA) is looking into the prospect of issuing short-term debt instruments in cooperation with the European Bank for Reconstruction and Development (EBRD), EFSA boss Sherif Samy said on Wednesday. The move would facilitate financing of SMEs, particularly those whose products and services. The move would also help facilitate factoring operations in Egypt, he added. As it stands debt securities hold a 13-month limit, with the regulator looking to allow for the issuance of short-term bonds with a duration of less than a year.