FRA to launch movable collateral assets registry next week

The Financial Regulatory Authority (FRA) is planning to announce the launch a movable collateral assets registry at a press conference on Sunday, Al Mal reports. The FRA had signed an agreement with The Egyptian Credit Bureau (I-Score) last year to establish the registry, which is expected to facilitate SME funding and aid the government’s financial inclusion efforts by allowing machines, patents, and engineering designs to be used as collateral.