{"id":546461,"date":"2022-05-17T04:00:52","date_gmt":"2022-05-17T04:00:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/17\/banking-and-rail-news-aplenty-edita-is-looking-at-microfinance\/"},"modified":"2022-05-17T04:00:52","modified_gmt":"2022-05-17T04:00:52","slug":"banking-and-rail-news-aplenty-edita-is-looking-at-microfinance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/17\/banking-and-rail-news-aplenty-edita-is-looking-at-microfinance\/","title":{"rendered":"Banking and rail news aplenty + Edita is looking at microfinance"},"content":{"rendered":"<p><strong>There\u2019s plenty of banking news:<\/strong> <strong>The Central Bank of Egypt has joined the global <\/strong><strong><a href=\"https:\/\/www.ngfs.net\/en\">Network for<\/a><\/strong><strong><a href=\"https:\/\/www.ngfs.net\/en\">Greening the Financial System (NGFS)<\/a><\/strong>, a network of central banks and financial regulators that aims to mobilize green finance and manage climate risks in the banking sector, it announced in <a href=\"https:\/\/ent.news\/2022\/5\/%D8%A8%D9%8A%D8%A7%D9%86-%D8%B5%D8%AD%D9%81%D9%8A-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%8A%D9%86%D8%B6%D9%85-%D8%A5%D9%84%D9%89-%D8%B4%D8%A8%D9%83%D8%A9-%D8%A7%D9%84%D9%86%D8%B8%D8%A7%D9%85-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A-%D8%A7%D9%84%D8%A3%D8%AE%D8%B6%D8%B1-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A%D8%A9.pdf\">a statement (pdf)<\/a> yesterday. Meanwhile, <strong>Midbank<\/strong> has received approval from the Financial Regulatory Authority to <a href=\"https:\/\/ent.news\/2022\/5\/MIDBANK-Consumer-Finance-.docx.pdf\">launch (pdf)<\/a> consumer finance company Mid Installments, and the <strong>National Bank of Egypt<\/strong> has <a href=\"https:\/\/ent.news\/2022\/5\/whatsapp-business.docx.pdf\">launched (pdf)<\/a> a WhatsApp service for customer enquiries.<\/p>\n<p><strong>WATCH THIS SPACE<\/strong><strong>: <\/strong><strong>Edita to launch two new companies:<\/strong> Edita\u2019s board of directors has <a href=\"https:\/\/ent.news\/2022\/5\/Edita-16-05-2022.pdf\">signed off (pdf)<\/a> on a proposal from management to establish a new holding company and a EGP 15 mn micro lender.<\/p>\n<p><strong>The Anti-Money Laundering Act <\/strong><strong>received a nod <\/strong>from the House Legislative Committee, with the bill up for discussion in the House\u2019s plenary session on 22 May. (<a href=\"https:\/\/english.ahram.org.eg\/News\/466289.aspx\">Ahram Online<\/a>)<\/p>\n<p><strong>German rail company Vossloh will supply rail fastening systems for Egypt\u2019s <\/strong><strong>high-speed railway<\/strong> under a EUR 40 mn contract, the company said in a <a href=\"https:\/\/www.vossloh.com\/en\/press\/press-releases\/detail\/pressdetail_49984.html\">statement<\/a> yesterday. The first deliveries will begin this year and continue through to 2024.<\/p>\n<p><strong>REMINDER- We\u2019re set to sign contracts for the second and third phase of the railway with <\/strong><strong>Siemens by <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/187aee54-7d59-42d7-a333-1ee0064d1443\">the end of May<\/a><\/strong><strong>.<\/strong> The German conglomerate, Orascom Construction and Arab Contractors signed a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13c77944-a194-421e-b52d-c3ab09523df6\">USD 4.5 bn contract<\/a> with the government last September for the first phase of the line, which will run 660 km between Ain Sokhna and Marsa Matrouh and is due to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d59bb6a-b1fa-481e-8fda-6347ecb8587b\">open in June 2024<\/a>. The later phases will link Cairo, Aswan, the North Coast and the Red Sea, running 1.8k km across the country.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Industry is safe from higher gas prices for now:<\/strong> There is no intention to raise natural gas prices for the industrial sector in the current period in response to rising international prices, Oil Minister Tarek El Molla said yesterday. (<a href=\"https:\/\/www.asharqbusiness.com\/article\/37508\">Bloomberg Asharq<\/a>)<\/li>\n<li><strong>AT Lease eyes EGP 1 bn+ securitization bonds: <\/strong>Shari\u2019ah-compliant leasing company AT Lease plans to issue more than EGP 1 bn worth of securitization bonds this year. (Amwal Al Ghad)<\/li>\n<li><strong>A new authority for regulating airspace:<\/strong> The Official Gazette has published a presidential decree to set up the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c49f1cd0-4568-491c-a6cd-87d5e920b80c\">National Center for Airspace Management<\/a>. (<a href=\"https:\/\/tinyurl.com\/4hnsx4bs\">Youm7<\/a>)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>There\u2019s plenty of banking news: The Central Bank of Egypt has joined the global Network forGreening the Financial System (NGFS), a network of central banks and financial regulators that aims to mobilize green finance and manage climate risks in the banking sector, it announced in a statement (pdf) yesterday. Meanwhile, Midbank has received approval from [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,1181,514,72,1088,180,1884,265,1037,85,207,1885],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546461","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-at-lease","tag-consumer-finance","tag-enterpriseam","tag-high-speed-rail","tag-legislation","tag-midbank","tag-money-laundering","tag-network-for-greening-the-financial-system","tag-securitization","tag-transport","tag-vossloh","wpautop","entry"],"acf":{"mongo_id":"9fab1d7a-ea9b-47d1-afab-8b4fb98f4dd9","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[546443],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Banking and rail news aplenty + Edita is looking at microfinance - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/17\/banking-and-rail-news-aplenty-edita-is-looking-at-microfinance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banking and rail news aplenty + Edita is looking at microfinance\" \/>\n<meta property=\"og:description\" content=\"There\u2019s plenty of banking news: The Central Bank of Egypt has joined the global Network forGreening the Financial System (NGFS), a network of central banks and financial regulators that aims to mobilize green finance and manage climate risks in the banking sector, it announced in a statement (pdf) yesterday. Meanwhile, Midbank has received approval from [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/17\/banking-and-rail-news-aplenty-edita-is-looking-at-microfinance\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-17T04:00:52+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/17\/banking-and-rail-news-aplenty-edita-is-looking-at-microfinance\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/17\/banking-and-rail-news-aplenty-edita-is-looking-at-microfinance\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Banking and rail news aplenty + Edita is looking at microfinance\",\"datePublished\":\"2022-05-17T04:00:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/17\/banking-and-rail-news-aplenty-edita-is-looking-at-microfinance\/\"},\"wordCount\":383,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"ALSO ON OUR RADAR\",\"AT Lease\",\"consumer finance\",\"EnterpriseAM\",\"high-speed rail\",\"legislation\",\"MIDBank\",\"money laundering\",\"Network for Greening the Financial System\",\"securitization\",\"transport\",\"Vossloh\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/17\/banking-and-rail-news-aplenty-edita-is-looking-at-microfinance\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/17\/banking-and-rail-news-aplenty-edita-is-looking-at-microfinance\/\",\"name\":\"Banking and rail news aplenty + Edita is looking at microfinance - 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The rebranding aims to mitigate the impact on the bank\u2019s business from the US\u2019 sanctions on Iran, which has reportedly had a negative effect on the bank\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555159,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/ntra-slaps-telcos-with-fines-for-poor-quality\/","url_meta":{"origin":546461,"position":1},"title":"NTRA slaps telcos with fines for poor quality","author":"enterpriseam admin","date":"3 November 2021","format":false,"excerpt":"NTRA slaps telecom companies with EGP 25 mn in fines for subpar quality: The National Telecommunications Regulatory Authority (NTRA) has handed out EGP 25 mn in fines to telecom companies after their voice call services failed to meet the required quality standards, the regulator said in its quarterly quality of\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":605741,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/05\/egypts-future-credit-rating-agency-2-plus-news-from-midbank-banque-misr-egypt-air-and-more\/","url_meta":{"origin":546461,"position":2},"title":"Egypt\u2019s future credit rating agency #2? PLUS: news from MidBank, Banque Misr, Egypt Air and more","author":"enterpriseam admin","date":"5 September 2023","format":false,"excerpt":"The chairman of MGM Financial and Banking Consultants is partnering with investors to form a rating agency","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/334.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595587,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/09\/kharafi-national-borrows-egp-1-65-bn-to-expand-in-the-local-market\/","url_meta":{"origin":546461,"position":3},"title":"Kharafi National borrows EGP 1.65 bn to expand in the local market","author":"enterpriseam admin","date":"9 August 2023","format":false,"excerpt":"ADI Capital was the financial advisor on the loan","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/421.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549695,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/27\/elsewedy-electric-secures-egp-2-bn-in-islamic-financing\/","url_meta":{"origin":546461,"position":4},"title":"Elsewedy Electric secures EGP 2 bn in Islamic financing","author":"enterpriseam admin","date":"27 September 2022","format":false,"excerpt":"Elsewedy Electric has secured EGP 2 bn in Islamic financing from a banking consortium led by Abu Dhabi Islamic Bank (ADIB), according to a statement (pdf). The financing will help the company and its subsidiaries expand activities, the statement read. Who else is involved? Al Baraka Bank, Al Ahli Bank\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":616337,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/04\/contact-to-expand-in-saudi-in-2025-plus-news-from-b-investments-talaat-moustafa-group-adib-mashreq-madinet-masr-idea-verde-azimut\/","url_meta":{"origin":546461,"position":5},"title":"Contact to expand in Saudi in 2025. PLUS: News from B Investments, Talaat Moustafa Group, ADIB, Mashreq, Madinet Masr, Idea Verde, Azimut","author":"enterpriseam admin","date":"4 March 2024","format":false,"excerpt":"The investment will fund Basata\u2019s regional expansion plans","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/167.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546461"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546461\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546443"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546461"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546461"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}