FRA indicated in a report, Saturday, that the number of microfinance beneficiaries reached 3.2 million by the end of 2020, up from 3.1 million during 2019.
Omran stated that the decision includes that direct trading on the stock exchange be limited to buying and selling without allowing the use of margin buying mechanisms or borrowing securities for the purpose of selling, according to a statement issued, Sunday.
The documents related to the purchase offer file are being prepared, in accordance with the provisions of Chapter 12 of the Executive Regulations of the Capital Market Law No. 95 of 1992.
Egypt’s Financial Regulatory Authority (FRA) chaired by Mohamed Omran decided, Monday to donate LE 250 million to support state’s efforts to provide coronavirus vaccines for people in-need
Azzam has a wide experience in fields of investment and financing.
These activities include money market activities, the stock exchange, real estate finance, micro, medium and micro finance, consumer finance, insurance and financial leasing and factoring, Omran clarified.
The contracts recorded LE 58.6 billion during 2020, compared to LE 55.9 billion during 2019, marking an increase of 4.8 percent.
The indicator of the cumulative development of the volume of total transactions (disbursement and payment of financing) through non-cash payment methods from the beginning of the application in December 2018 until the end of September 2020 reached a total value of LE 2.5 billion.
This initiative comes within the framework of facilitating the compliance of microenterprise finance agencies and their project owners to comply with the requirements of Law No. (18) of 2019 regulating the "use of cashless payment methods."
CAIRO – 13 December 2020: Volume of securitization bond issuance in Egypt amounted to about LE 15.7 billion by the end of November 2020, according to Head of the Egyptian Financial Supervision Authority Mohamed Omran.
The working group includes representatives from each of the Central Bank, the Egyptian Stock Exchange, the Egypt Central Clearing, Depository and Registry Company, the Federation of Egyptian Banks, the Egyptian Insurance Union, a representative of investment banks and the European Bank for Reconstruction and Development (EBRD).
This should make life easier for consumers who want to secure their needs of the new products, said FRA chairman Mohamed Omran in a statement Tuesday.
Nano finance is thus one way of supporting certain segments of society, such as women and youth, to become a productive social power, Omran said in a statement Sunday.
FRA included the amounts invested in treasury bills and government bonds within its budget under the income item, which resulted in the volume of its budget for the fiscal year 2021/2020 to reach a total amount of LE 1.054 billion.
The stress test is an analysis or simulation designed to determine the ability of a given financial instrument or financial institution to deal with an economic crisis.
Chairman of the authority Mohamed Omran said services charges on trading in listed bonds will be reduced to be 5 per 100,000 with a maximum limit of 250 pounds.
Cairo 3A’s MTO includes the purchase of up to 50.077 million shares, which represents 100 percent of the shares of the Egyptian starch and glucose capital, at a price of LE 8.61 per share.
The issuance is made through a deal of Ijara Sukuk that is compatible with the provisions of Islamic Sharia; it is a negotiable and expedited payment and is not transferable into shares with a maturity of 5 years.
No additional fees or fines will be imposed by the FRA over the delay of payments, Omran added.
The Financial Regulatory Authority (FRA) welcomed Saturday President Abdel Fattah El Sisi’s decision to issue consumer financing law.