FRA: Financial leasing contracts valued at LE 48B in June

CAIRO - 22 October 2019: Head of the Financial Regulatory Authority Mohamed Omran said the total value of financial leasing contracts reached LE 48 billion in June compared with LE 32 billion in the same month of the previous year.

Addressing the fourth session of the non-banking financing tools forum, Omran said the FRA strategy for non-banking financial activities for 2018/2022 aims at increasing the portfolio of financial leasing to hit LE 60 billion by 2022.

He went on to say that the volume of real estate financing rose to LE 12 billion in the first six months of this year, compared with LE 10.7 billion in December of 2018.

Meanwhile, the volume of micro-scale financing witnessed a notable growth, recording LE 13 billion which targeted 3 million beneficiaries, with 65 percent of them women, adding that the authority aims at increasing the volume of this financing category to LE 25 billion, Omran added.