FRA approves Beltone’s new financial leasing, mortgage finance arms

The Financial Regulatory Authority has approved Beltone Financial’s plans to establish financial leasing and mortgage finance subsidiaries, Beltone’s Director of Investor Relations Osama Rashad, the local press reports. Beltone will hold a 98% stake in the two companies. The company will disclose the value of the two new arms once they’re launched, Rashad said, without providing a timeframe for the launch.