Arab African International Leasing (AAIL) plans to issue securitized bonds worth EGP 500-600 mn by the end of 2023, Chairman Mahmoud El Sakka told Enterprise, confirming a report by Al Mal. AAIL is the leasing arm of the Arab African International Bank (AAIB).

The firm is also planning to enter the factoring market: AAIL has obtained initial approval from the Financial Regulatory Authority (FRA) to set up a factoring arm, El Sakka said. It expects to receive final approval after it completes its operating structure.

The local securitization market has stepped up a gear this year: Total corporate issuances totalled around EGP 9.2 bn (based on our calculations) in 1Q2022 — 58% of the EGP 15.8 bn taken to market in the whole of 2021.

Want to know more about factoring? We have an explainer on the third-oldest profession here.

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