{"id":555758,"date":"2021-11-25T04:00:57","date_gmt":"2021-11-25T04:00:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/25\/securitize-that\/"},"modified":"2021-11-25T04:00:57","modified_gmt":"2021-11-25T04:00:57","slug":"securitize-that","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/25\/securitize-that\/","title":{"rendered":"Securitize that"},"content":{"rendered":"

<\/a> A new form of securitization is closer to being introduced to the Egyptian market<\/strong> after cabinet yesterday green-lit amendments<\/a> to the Capital Markets Act at its weekly meeting. The statement was short on details but the Financial Regulatory Authority later clarified<\/a> that the changes are related to its proposals from earlier this year<\/a> to allow utilities and other companies to raise capital by securitizing future cashflows.<\/p>\n

Introducing future flow securitization:<\/strong> The instrument allows companies that provide services to the public a new way of accessing liquidity. Unlike standard securitization which requires a large portfolio of accounts receivables, future flow transactions allow companies to sell securities backed by future income i.e. assets that do not yet exist on the company\u2019s balance sheet. This would open securitization to new companies in sectors such as utilities, telecoms, healthcare and education by allowing them to use future phone bills, utility payments, tuition fees and rental payments as securitizable assets.<\/p>\n

The changes could spur infrastructure spending:<\/strong> Companies that provide basic amenities will be able to issue tradable future-flow bonds to fund big-ticket spending on infrastructure, road, and transport projects without needing to wait for payments from their clients.<\/p>\n","protected":false},"excerpt":{"rendered":"

A new form of securitization is closer to being introduced to the Egyptian market after cabinet yesterday green-lit amendments to the Capital Markets Act at its weekly meeting. The statement was short on details but the Financial Regulatory Authority later clarified that the changes are related to its proposals from earlier this year to allow […]<\/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":[7306],"tags":[282,971,72,7111,180,85],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555758","post","type-post","status-publish","format-standard","hentry","category-cabinet-watch","tag-cabinet-watch","tag-capital-markets-act","tag-enterpriseam","tag-infrastructure","tag-legislation","tag-securitization","wpautop","entry"],"acf":{"mongo_id":"3fb31620-1cf4-4952-b018-deb2ab293138","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[555746],"teaser":"","voice_url":""},"yoast_head":"\nSecuritize that - 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\/2021\/11\/25\/securitize-that\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Securitize that\" \/>\n<meta property=\"og:description\" content=\"A new form of securitization is closer to being introduced to the Egyptian market after cabinet yesterday green-lit amendments to the Capital Markets Act at its weekly meeting. 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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":562273,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/18\/utilities-schools-and-landlords-could-securitize-cashflows-theyve-not-even-booked\/","url_meta":{"origin":555758,"position":1},"title":"Utilities, schools and landlords could securitize cashflows they\u2019ve not even booked","author":"enterpriseam admin","date":"18 May 2021","format":false,"excerpt":"A new type of securitization under consideration by regulators could stoke the Egyptian market: Utilities and other companies that provide ongoing services to the public may soon be able to raise capital by securitizing future cashflows under a new instrument greenlit by the Financial Regulatory Authority last week, the regulator\u2026","rel":"","context":"In "REGULATION WATCH"","block_context":{"text":"REGULATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/135.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546528,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/19\/cira-could-be-the-first-to-tap-the-future-flow-securitization-market\/","url_meta":{"origin":555758,"position":2},"title":"CIRA could be the first to tap the future flow securitization market","author":"enterpriseam admin","date":"19 May 2022","format":false,"excerpt":"CIRA could issue Egypt\u2019s first future flow securities: EGX-listed private sector education outfit CIRA is in talks with the Financial Regulatory Authority (FRA) to issue EGP 1.5 bn worth of future flow securities, a source with first-hand knowledge of the transaction told Enterprise yesterday. 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":555758,"position":3},"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":543893,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/a-busy-day-in-the-house-gives-us-future-flow-securitization-new-eviction-rules\/","url_meta":{"origin":555758,"position":4},"title":"A busy day in the House gives us future flow securitization, new eviction rules","author":"enterpriseam admin","date":"23 February 2022","format":false,"excerpt":"Say hello to future flow securitization: The House of Representatives\u2019 general assembly gave its final approval yesterday to amendments to the Capital Markets Act that will introduce future flow securitization, according to Al Borsa. Cabinet approved the amendments necessary to create the capital-raising tool in November after the Financial Regulatory\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\/internal\/536550.png?resize=350%2C200&ssl=1","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":555758,"position":5},"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. 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