Microfinance in Egypt exceeds LE19B in 2020

Sun, 28 Feb 2021 - 11:09 GMT

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.

FRA sets maximum limit for young people under 21 years old to trade on EGX

Mon, 22 Feb 2021 - 03:43 GMT

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.

Banque Misr intends to bid for CI Capital shares

Mon, 08 Feb 2021 - 02:25 GMT

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 donates LE 250M to provide COVID vaccines for needy people

Mon, 01 Feb 2021 - 10:07 GMT

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

PM names new deputy to FRA chief

Thu, 21 Jan 2021 - 03:18 GMT

Azzam has a wide experience in fields of investment and financing.

Egypt aims to achieve comprehensive digital transformation of all non-banking financial activities: FRA

Tue, 19 Jan 2021 - 02:07 GMT

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.

Financial leasing contracts hike 19.7% during 2020

Tue, 19 Jan 2021 - 01:34 GMT

The contracts recorded LE 58.6 billion during 2020, compared to LE 55.9 billion during 2019, marking an increase of 4.8 percent.

Size of financing portfolio granted to micro-projects record LE18.2B by end of November

Sun, 03 Jan 2021 - 01:24 GMT

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.

Egypt launches initiative to contain informal economy using digital payment tools

Sun, 03 Jan 2021 - 11:59 GMT

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."

Securitization bond issuance in Egypt to hit LE25B in 2020

Sun, 13 Dec 2020 - 03:33 GMT

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.

Egypt studies structure of Futures Exchange, Settlement companies

Tue, 25 Aug 2020 - 02:24 GMT

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).

FRA agrees to add new products to consumer financing system

Tue, 07 Jul 2020 - 10:18 GMT

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.

FRA chairman says nano finance encourages new economic activities

Sun, 28 Jun 2020 - 04:18 GMT

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 targets revenues of LE 400M in 2020/21

Wed, 17 Jun 2020 - 04:39 GMT

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.

FRA conducts stress test of non-banking financial sector over COVID-19 crisis

Thu, 21 May 2020 - 12:55 GMT

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.

FRA reduces services charges on trading operations

Sun, 10 May 2020 - 01:30 GMT

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.

FRA approves Cairo 3A mandatory offer to acquire Egyptian Starch and Glucose

Sun, 26 Apr 2020 - 11:39 GMT

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.

EFG Hermes issues LE 2B- bonds for Talaat Mostafa’s subsidiary

Wed, 08 Apr 2020 - 04:19 GMT

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.

FRA defers payment of 50% of microcredit installments

Sun, 29 Mar 2020 - 10:33 GMT

No additional fees or fines will be imposed by the FRA over the delay of payments, Omran added.

FRA welcomes issuing consumer financing law

Sat, 21 Mar 2020 - 02:51 GMT

The Financial Regulatory Authority (FRA) welcomed Saturday President Abdel Fattah El Sisi’s decision to issue consumer financing law.