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FRA sets a minimum quota for SME leasing and insurance
Microinsurance and financial leasing firms will be required to create designated accounts of a minimum EGP 10 mn to support…
Banking + Finance
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Global Lease in talks to increase financing portfolio by EGP 500 mn
Global Lease is in talks with four local banks, including Attijariwafa and United Bank, to increase its financing portfolio by…
Al Marasem in talks with banks for EGP 1.6 bn Islamic finance
Al Marasem International for Development is in talks with several banks to get an EGP 1.6 bn Islamic loan to…
Egypt signs agreement with EBRD for EUR 79 mn Kitchener drain loan
The Local Development Ministry signed yesterday an agreement to release a EUR 79 mn tranche of the EUR 148 mn…
EGX approves issued capital increase for CIB, Orascom Development
The EGX has approved CIB’s c.EGP 2.92 bn issued capital increase, according to a bourse statement (pdf). The EGX also…
FRA sets up insurance policy holder’s bailout fund
The Financial Regulatory Authority (FRA) issued regulations establishing the country’s first insurance policy holder’s bailout fund, the market regulator said…
Ebtikar’s Vitas gets microfinancing license
Ebtikar for Financial Investment’s Vitas received a micro-financing license and will focus on projects that need up to EGP 100,000…
Sarwa Capital receives preliminary FRA approval to for sukuk issuer license
Consumer- and structured-finance player Sarwa Capital has received a preliminary approval from the Financial Regulatory Authority (FRA) for a license…
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