The Financial Regulatory Authority (FRA) has received two applications from unnamed microfinance companies looking to obtain a license to to begin offering nano lending services, microfinance development expert at the FRA Ahmed Abdel Gawad said. The authority is expected to issue the licenses by next month, Abdel Gawad added. Nano lending services were greenlit by the regulator in November. Among the few lenders ready to offer the services is Tamweely Microfinance, we noted last month.

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