Aman Microfinance in talks for EGP 1 bn facility

Raya Holding subsidiary Aman Microfinance is negotiating an EGP 1 bn credit facility with four banks, Raya IR head Ahmed Nour Eldin told Enterprise, confirming a story first reported by Amwal Alghad. Aman is in talks with Credit Agricole, United Bank, Abu Dhabi Islamic Bank and Al Ahli Bank of Kuwait for the facility, which will fund working capital, Nour Eldin said.

Negotiations shouldn’t take long: “It normally takes us only 2-3 months to negotiate credit facilities and receive approvals from banks since they are particularly supportive when it comes to providing credit facilities for microfinancing,” Nour Eldin said.