NBE considering funding used cars purchasing

The National Bank of Egypt may create a product to finance the purchase of second-hand vehicles, head of the bank’s Retail Credit Risk department Karim Sous says, according to Al Mal. NBE isn’t the only bank getting in on the used car action as the sector as a whole is apparently expanding in this line of business, Federation of Egyptian Industries’ transport manufacturing division VP Samir Allam says. The move comes as sales of new cars has stalled post-float.