{"id":566833,"date":"2021-07-15T13:54:15","date_gmt":"2021-07-15T13:54:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/15\/raya-establishes-aman-for-technology-nbfs-and-electronic-payments\/"},"modified":"2021-07-15T13:54:15","modified_gmt":"2021-07-15T13:54:15","slug":"raya-establishes-aman-for-technology-nbfs-and-electronic-payments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/15\/raya-establishes-aman-for-technology-nbfs-and-electronic-payments\/","title":{"rendered":"Raya establishes Aman for Technology, NBFS, and Electronic Payments"},"content":{"rendered":"<p><strong>Raya to consolidate Aman subsidiaries into a holding company following FRA approval: <\/strong>Raya Holding gained approval from the Financial Regulatory Authority (FRA) to create a holding company for its subsidiaries Aman for E-Payments, Aman for Microfinance, and Aman for Financial Services, according to an <a href=\"https:\/\/ent.news\/2021\/7\/Raya-Aman.pdf\">EGX disclosure (pdf)<\/a> released today. The holding company will be under the name Aman for Technology, NBFS, and Electronic Payments and will help increase investments in the company and expand its activities.<\/p>\n<p><strong>Aman is working to roll out two new subsidiaries<\/strong>, Aman for Consumer Finance which will be established with EGP 110 mn in capital as well as Aman for Securitization with a capital of EGP 5 mn, the disclosure added.<\/p>\n<p><strong>MARKET WATCH-<\/strong><\/p>\n<p><strong>The EGX30 fell 0.4% at today\u2019s close<\/strong> on turnover of EGP 1.61 bn (24.9% above the 90-day average). Local investors were net sellers. The index is down 2.6% YTD.<\/p>\n<p><strong>In the green: <\/strong>AMOC (+4.3%), Cleopatra Hospitals (+0.9%) and Sodic (+0.9%).<\/p>\n<p><strong>In the red: <\/strong>TMG Holding (-2.5%), Export Development Bank of Egypt (-2.5%) and Fawry (-2.3%).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Raya to consolidate Aman subsidiaries into a holding company following FRA approval: Raya Holding gained approval from the Financial Regulatory Authority (FRA) to create a holding company for its subsidiaries Aman for E-Payments, Aman for Microfinance, and Aman for Financial Services, according to an EGX disclosure (pdf) released today. The holding company will be under [&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":[7219],"tags":[616,633,76,642,614],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566833","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-aman-financial-services","tag-enterprisepm","tag-financial-regulatory-authority","tag-go-with-the-flow","tag-raya-holding","wpautop","entry"],"acf":{"mongo_id":"368677e5-e358-489a-832c-973c05b03546","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[566822],"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>Raya establishes Aman for Technology, NBFS, and Electronic Payments - 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\/07\/15\/raya-establishes-aman-for-technology-nbfs-and-electronic-payments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Raya establishes Aman for Technology, NBFS, and Electronic Payments\" \/>\n<meta property=\"og:description\" content=\"Raya to consolidate Aman subsidiaries into a holding company following FRA approval: Raya Holding gained approval from the Financial Regulatory Authority (FRA) to create a holding company for its subsidiaries Aman for E-Payments, Aman for Microfinance, and Aman for Financial Services, according to an EGX disclosure (pdf) released today. The holding company will be under [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/15\/raya-establishes-aman-for-technology-nbfs-and-electronic-payments\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-15T13:54:15+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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/15\/raya-establishes-aman-for-technology-nbfs-and-electronic-payments\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/15\/raya-establishes-aman-for-technology-nbfs-and-electronic-payments\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Raya establishes Aman for Technology, NBFS, and Electronic Payments\",\"datePublished\":\"2021-07-15T13:54:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/15\/raya-establishes-aman-for-technology-nbfs-and-electronic-payments\/\"},\"wordCount\":173,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Aman Financial Services\",\"EnterprisePM\",\"Financial Regulatory Authority\",\"Go with the Flow\",\"Raya Holding\"],\"articleSection\":[\"GO WITH THE FLOW\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/15\/raya-establishes-aman-for-technology-nbfs-and-electronic-payments\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/15\/raya-establishes-aman-for-technology-nbfs-and-electronic-payments\/\",\"name\":\"Raya establishes Aman for Technology, NBFS, and Electronic Payments - 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The company is going to find it hard to get regulatory\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/110.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567026,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/09\/egypts-raya-holding-sets-up-parent-company-for-nbfs-businesses\/","url_meta":{"origin":566833,"position":1},"title":"Egypt\u2019s Raya Holding sets up parent company for NBFS businesses","author":"enterpriseam admin","date":"9 January 2020","format":false,"excerpt":"Raya Holding has set up a new parent company for its three non-banking financial service businesses, the company said in an EGX filing (pdf). The new company, Aman Holding, has EGP 375 mn in capital and holds 99% stakes in Aman for Financial Services and Aman for E-Payments, and a\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594380,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/28\/raya-holding-subsidiaries-to-issue-securitized-bonds-worth-egp-500-mn\/","url_meta":{"origin":566833,"position":2},"title":"Raya Holding subsidiaries to issue securitized bonds worth EGP 500 mn","author":"enterpriseam admin","date":"28 October 2019","format":false,"excerpt":"Raya Holding for Financial Investments subsidiaries Raya Electronics, Aman Financial Services, and Aman Microfinance are planning to issue EGP 500 mn of asset-backed securities, according to the local press. CIB and the National Bank of Egypt will manage the securitization process and Dreny & Partners Law Firm will act as\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":593025,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/14\/raya-to-issue-securitized-bonds-worth-egp-500-mn\/","url_meta":{"origin":566833,"position":3},"title":"Raya to issue securitized bonds worth EGP 500 mn","author":"enterpriseam admin","date":"14 November 2019","format":false,"excerpt":"The Financial Regulatory Authority has signed off on Raya Holding\u2019s plans for its second EGP 497.5 mn securitized bond issuance for its subsidiaries, Raya Electronics, Aman Financial Services, and Aman Microfinance, the company said in a bourse disclosure (pdf). The four-tranche issuance will include bonds with maturities of six, nine,\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":602218,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/21\/raya-holding-reports-fy2018-earnings-names-ahmed-hassan-and-hossam-hussein-as-ir-managers\/","url_meta":{"origin":566833,"position":4},"title":"Raya Holding reports FY2018 earnings, names Ahmed Hassan and Hossam Hussein as IR managers","author":"enterpriseam admin","date":"21 March 2019","format":false,"excerpt":"EARNINGS WATCH- Raya Holding reported a net profit of EGP 89.1 mn in 2018, down from EGP 103.2 last year, according to its earnings release (pdf). Revenues for the year were up to EGP 7.9 bn from EGP 6.7 bn in 2017.The company also announced it has set up non-banking\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/194.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559013,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/05\/aman-holding-wants-to-ipo\/","url_meta":{"origin":566833,"position":5},"title":"Aman Holding wants to IPO","author":"enterpriseam admin","date":"5 January 2021","format":false,"excerpt":"Raya subsidiary Aman Holding is eyeing an IPO in the coming two years, by which time it hopes to have captured more market share, Al Mal reports, citing unnamed sources. The news comes after the National Bank of Egypt\u2019s acquisition of a 24% stake in Aman last week. 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