Egyptian consumer finance firm Sarwa looks to set up transferable value fund

Sarwa Capital filed with the Financial Regulatory Authority (FRA) to set up a “transferable value” fund, a new type of fund through which it can transfer receivables, the local press reports. The market regulator had issued a decision last month allowing the creation of these funds, which are dedicated to providing liquidity to leasing, mortgage and consumer finance, factoring, and microfinance companies. The decision is designed to help these firms access liquidity. Our friends at ALC Alieldean Weshahi & Partners are legal advisors to Sarwa on the fund.