{"id":549952,"date":"2022-10-09T04:08:14","date_gmt":"2022-10-09T04:08:14","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/09\/future-flow-securitization-regs-are-out-fawry-wants-a-piece-of-the-bnpl-market\/"},"modified":"2022-10-09T04:08:14","modified_gmt":"2022-10-09T04:08:14","slug":"future-flow-securitization-regs-are-out-fawry-wants-a-piece-of-the-bnpl-market","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/09\/future-flow-securitization-regs-are-out-fawry-wants-a-piece-of-the-bnpl-market\/","title":{"rendered":"Future flow securitization regs are out + Fawry wants a piece of the BNPL market"},"content":{"rendered":"

<\/a> Future flow securitization has officially arrived: <\/strong>The Financial Regulatory Authority (FRA) has issued its regulations for future flow securitization, the regulator said in a statement (pdf)<\/a>, paving the way for the country\u2019s first issuance.<\/p>\n

This opens the door to our first future flow securitization issuance, courtesy of CIRA: <\/strong>EGX-listed private sector education outfit CIRA in July became the first company to receive approval<\/a> from the FRA to take a EGP 2 bn future flow securitized bond program<\/a> to market. Amendments to the Capital Markets Act that introduce future flow securitization were signed into law<\/a> in March, after the FRA approved the instruments for use in May 2021<\/a>.<\/p>\n

It\u2019s good news for public-sector projects, too: <\/strong>Public agencies will be able to use future flow issuances to raise funds for new projects and to improve existing services without depleting state coffers, FRA chief Mohamed Farid said in the statement. He singled out utilities including water, electricity, gas, and recycling, national railway and subway projects, and the telecoms sector as among those well placed to take advantage of future flow issuances.<\/p>\n

Missed our explainer on future flow<\/strong>?<\/strong> Future flow securitization differs from traditional securitization<\/a> in that it allows the securitization of payments that aren\u2019t yet on the company\u2019s balance sheet, giving companies access to liquidity without needing a big portfolio of accounts receivables (think: home and car financing, leasing portfolios and the like). Future income \u2014 whether from club memberships, phone bills, utility payments, tuition fees or rents \u2014 is packaged into securities and offered to investors in order to raise capital. Tap or click here to check out our full explainer.<\/a><\/strong><\/p>\n

FAWRY EYES BNPL MARKET-<\/strong><\/p>\n

E-payments giant Fawry is planning to launch its consumer finance business in <\/strong>1Q 2023<\/strong>, Chief Investor Relations Officer Hassan Abdel Gelil told Enterprise. Fawry has earmarked around EGP 400 mn from the proceeds of a recent EGP 800 mn capital increase to tap the consumer finance market with its new buy-now-pay-later (BNPL) platform, Abdel Gelil told us. The EGX-listed company had previously said it would launch<\/a> Fawry Consumer Finance in 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"

Future flow securitization has officially arrived: The Financial Regulatory Authority (FRA) has issued its regulations for future flow securitization, the regulator said in a statement (pdf), paving the way for the country\u2019s first issuance. This opens the door to our first future flow securitization issuance, courtesy of CIRA: EGX-listed private sector education outfit CIRA in […]<\/p>\n","protected":false},"author":1,"featured_media":549953,"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":[8313],"tags":[72,2523,76,503],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-services","tag-enterpriseam","tag-fawry-consumer-finance","tag-financial-regulatory-authority","tag-financial-services","wpautop","entry"],"acf":{"mongo_id":"7142dae1-7b88-4296-9d8b-0d3813973c8f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/10\/156.jpg","photo_position":"above","related_issue":[549939],"teaser":"","voice_url":""},"yoast_head":"\nFuture flow securitization regs are out + Fawry wants a piece of the BNPL market - 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\/10\/09\/future-flow-securitization-regs-are-out-fawry-wants-a-piece-of-the-bnpl-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Future flow securitization regs are out + Fawry wants a piece of the BNPL market\" \/>\n<meta property=\"og:description\" content=\"Future flow securitization has officially arrived: The Financial Regulatory Authority (FRA) has issued its regulations for future flow securitization, the regulator said in a statement (pdf), paving the way for the country\u2019s first issuance. 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The securities will be backed by\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/249.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548172,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/28\/ciras-maiden-future-flow-bond-issuance-could-close-next-month\/","url_meta":{"origin":549952,"position":1},"title":"CIRA\u2019s maiden future flow bond issuance could close next month","author":"enterpriseam admin","date":"28 July 2022","format":false,"excerpt":"It\u2019s official: CIRA\u2019s future flow securitization program has gotten the nod from the Financial Regulatory Authority (FRA), which has given EFG Hermes the final go-ahead to take EGX-listed education provider CIRA\u2019s planned EGP 800 mn issuance to market. The offering is Egypt\u2019s first-ever future flow securitization, CIRA and the regulator\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/305.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547778,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/cira-moves-one-step-closer-to-future-flow-securities\/","url_meta":{"origin":549952,"position":2},"title":"CIRA moves one step closer to future flow securities","author":"enterpriseam admin","date":"6 July 2022","format":false,"excerpt":"CIRA shareholders greenlight future flow securitization: Shareholders of EGX-listed education provider CIRA have approved the company\u2019s plans for a EGP 2 bn future flow securitization program, moving it a step closer to debuting the asset-backed securities in Egypt, it said in an EGX disclosure (pdf) on Monday. At a general\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/137.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547163,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/12\/our-first-ever-future-flow-issuance-could-be-just-around-the-corner-rayas-aman-eyes-egp-500-650-mn-securitized-issuance\/","url_meta":{"origin":549952,"position":3},"title":"Our first-ever future flow issuance could be just around the corner + Raya\u2019s Aman eyes EGP 500-650 mn securitized issuance","author":"enterpriseam admin","date":"12 June 2022","format":false,"excerpt":"CIRA could issue Egypt\u2019s first future flow securitized bonds next month: The Financial Regulatory Authority (FRA) has approved a program that would see EGX-listed private sector education outfit CIRA issue EGP 2 bn of future flow securitized bonds over three years, CIRA CEO Mohamed El Kalla told Enterprise. The first\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/226.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544785,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/make-way-for-future-flow-securitization\/","url_meta":{"origin":549952,"position":4},"title":"Make way for future flow securitization","author":"enterpriseam admin","date":"21 March 2022","format":false,"excerpt":"Future flow securitization is officially here: President Abdel Fattah El Sisi has ratified amendments to the Capital Markets Act that introduce future flow securitization, according to a decree published in the Official Gazette (pdf).What is future flow securitization? Future flow securitization differs from traditional securitization in that it allows the\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/277.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577027,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/we-finally-got-our-first-future-flow-issuance-courtesy-of-cira\/","url_meta":{"origin":549952,"position":5},"title":"We finally got our first future flow issuance, courtesy of CIRA","author":"enterpriseam admin","date":"7 November 2022","format":false,"excerpt":"CIRA Education closes Egypt\u2019s maiden EGP 800 mn future flow securitization issuance: EGX-listed education provider CIRA Education has closed its maiden EGP 800 mn future flow issuance as part of a larger EGP 2 bn future flow securitized bond program, the company said in a statement (pdf) yesterday. The full\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/110.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\/549952","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=549952"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549952\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549939"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/549953"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549952"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549952"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}