{"id":587632,"date":"2023-05-30T00:00:00","date_gmt":"2023-05-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/30\/valu-telda-partner-up-plus-tatweer-misr-signs-partnership-deal-to-enter-saudi-frs-approves-egx-futures-clearing-company\/"},"modified":"2023-05-30T00:00:00","modified_gmt":"2023-05-30T00:00:00","slug":"valu-telda-partner-up-plus-tatweer-misr-signs-partnership-deal-to-enter-saudi-frs-approves-egx-futures-clearing-company","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/30\/valu-telda-partner-up-plus-tatweer-misr-signs-partnership-deal-to-enter-saudi-frs-approves-egx-futures-clearing-company\/","title":{"rendered":"valU, Telda partner up. PLUS: Tatweer Misr signs partnership deal to enter Saudi, FRS approves EGX futures clearing company"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NBFS-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">valU, Telda offer new redemption, installment services: <\/span><span style=\"\">EFG Holding\u2019s BNPL platform valU <\/span><span>and digital payment app Telda have partnered to enable the users of valU cashback service Sha2labaz to redeem the value of their purchases through the Telda app, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/1568.pdf\" style=\"\">a joint statement<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/1568.pdf\" style=\"\">(pdf)<\/a><\/span><span style=\"font-weight:400;\">. Redeemed amounts can then be used to make online purchases, payments at brick-and-mortar stores, or ATM cash withdrawals, according to the statement. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It works both ways:<\/span><span style=\"font-weight:400;\"> \u201cTelda purchases can be redeemed through Sha2labaz and be refinanced through valU\u2019s installment plans of up to 60 months,\u201d the statement reads. These installments can be paid directly through the valU app.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">valU has a couple of financing plans in the pipeline:<\/span><span> The company intends to securitize more of its portfolio within a month or two, h<\/span><span>ead of Product Development Ahmed Seoudi<\/span><span> reportedly told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3OKTfSz\" style=\"\">Hapi Journal<\/a><\/span><span>, adding that the firm has not yet set an amount for the offering. The firm is also reportedly in talks with two banks to secure two new loans soon, Seoudi <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/hapijournal.com\/2023\/05\/29\/%da%a4%d8%a7%d9%84%d9%8a%d9%88-%d8%aa%d8%aa%d9%81%d8%a7%d9%88%d8%b6-%d9%85%d8%b9-%d8%a8%d9%86%d9%83%d9%8a%d9%86-%d9%84%d8%a7%d9%82%d8%aa%d9%86%d8%a7%d8%b5-%d8%aa%d9%85%d9%88%d9%8a%d9%84%d8%a7%d8%aa\/\" style=\"\">said<\/a><\/span><span style=\"font-weight:400;\"> at a press conference yesterday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER-<\/span><span> ValU closed its fourth securitized bond issuance in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bea9a220-6627-4e5a-b0ac-62f4578808fe\" style=\"\">March<\/a><\/span><span> and hopes to launch a<\/span><span> second securitization program worth EGP 5 bn later this year, CEO Walid Hassouna <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c21a385c-7d70-43ba-a680-2d1cc8ccf4bb\" style=\"\">told us<\/a><\/span><span style=\"font-weight:400;\"> in January. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">REAL ESTATE-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Tatweer Misr takes first step towards Saudi expansion: <\/span><span style=\"\">Tatweer Misr will establish a joint <\/span><span>venture with the Saudi investment firm <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/nalrajhi.com\/\" style=\"\">Naif Alrajhi Investment<\/a><\/span><span> under a strategic partnership <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/TatweerMisrDevelopments\/posts\/pfbid027dMpem5w6rUreSPTJRovkpft7n26sbSsUDnAw3Rsy7Xg5RerYG8gQ3vwBfyB44Mcl\" style=\"\">signed between the two sides<\/a><\/span><span> yesterday. The JV will focus on construction and real estate investment in Saudi Arabia and will mark Tatweer\u2019s first project outside Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">CAPITAL MARKETS-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EGX futures clearing company receives FRA approval: <\/span><span style=\"\">The Financial Regulatory Authority <\/span><span>(FRA) has granted the EGX the greenlight to launch the<\/span><span> clearing company<\/span><span> for its new futures exchange, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.alborsaanews.com\/2023\/05\/29\/1672817\" style=\"\">Al Borsa<\/a><\/span><span> reported yesterday, citing <\/span><span>EGX boss Ramy El Dokany. The EGX has tapped Evolve Investment Holding CEO Sameh El Torgoman (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/sameh-eltorgoman-6245b954\/\" style=\"\">LinkedIn<\/a><\/span><span style=\"font-weight:400;\">) as company chairman. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER- <\/span><span>The FRA, EGX, and Misr for Central Clearing and Depository (MCDR) are aiming to launch the long-anticipated futures exchange <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bcc168f-6fd3-410b-a287-8ced932fd01f\" style=\"\">by 4Q 2023<\/a><\/span><span>. <\/span><span>The FRA in March <\/span><span>issued amendments<\/span><span style=\"font-weight:400;\"> to rules on the establishment of the company that will manage the new futures exchange and the new clearing company. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EDUCATION-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">CIRA<\/span><span style=\"font-weight:700\"> partners with Think Big and CEA to launch visual arts education program:<\/span><span>CIRA Education is teaming up with Egypt-based <\/span><span>Think Big Media Production<\/span><span>, led by film director and founder, Rami Imam, and Canada-based the Center for Entertainment Arts (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thecea.ca\/\" style=\"\">CEA<\/a><\/span><span>), to offer accredited visual arts programs to students across a number of its campuses in both East and West Cairo, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/1595.pdf\" style=\"\">a press release (pdf)<\/a><\/span><span> yesterday. <\/span><span>The courses will cater to a wide range of students,<\/span><span> from 12 years-old up to those pursuing university degrees<\/span><span style=\"font-weight:400;\">.The program is expected to launch this summer with an estimated 150 students, CIRA Education CEO Mohamed El Kalla told Enterprise.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>valU is also planning a fresh securitization transaction soon<\/p>\n","protected":false},"author":1,"featured_media":587633,"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":[111,102,402,514,73,7107,68,72,76,183,929,619,595,2313,83,85,3224,515],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-587632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-capital-markets","tag-cira-education","tag-consumer-finance","tag-education","tag-efg-holding","tag-egx","tag-enterpriseam","tag-financial-regulatory-authority","tag-fintech","tag-futures","tag-mohamed-el-kalla","tag-non-banking-financial-services","tag-ramy-el-dokany","tag-real-estate","tag-securitization","tag-tatweer-misr","tag-valu","wpautop","entry"],"acf":{"mongo_id":"d618c524-4165-4e95-99f7-493fb5811d71","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1609.jpg","photo_position":"above","homepage_title":"","full_issue_title":"valU, Telda partner up. PLUS: Tatweer Misr signs partnership deal to enter Saudi, FRS approves EGX futures clearing company","related_issue":[587606],"teaser":"valU is also planning a fresh securitization transaction soon","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.7f4429e5-645c-4a0e-a6a0-ea6061efad5b.mp3"},"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>valU, Telda partner up. 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