FRA
The license enables oliv to offer fully digital factoring and reverse factoring services to Egyptian businesses, a move that could revolutionize access to working capital for the country’s SMEs.
Consumer financing involves providing funds for purchasing goods and services for personal use, with repayment terms spanning at least six months.
The sandbox seeks to support startups offering smart digital solutions, making it easier for them to enter the financial market while enhancing the regulatory framework for fintech.
He reaffirmed the FRA’s dedication to creating a supportive regulatory environment and advancing innovative solutions in line with Egypt’s Vision 2030.
With this approval, Beltone, in collaboration with its partner CRIF — an international leader in credit and business information analytics — will establish Egypt’s second credit rating agency.
According to a recent FRA report, the loan balances granted to MSMEs increased to LE 66.8 billion by the end of July 2024, compared to LE 46.143 billion by the end of July 2023.
CPME aims to complete acquisitions of target companies within two years from the date of its listing, explained the FRA statement.
Ongoing efforts are directed towards expediting digital transformation and fostering financial inclusion within this sector.
Trading started today, August 13th, with oversight provided by financial authorities in Egypt and across Africa.
They recently signed a memorandum of understanding (MoU) that outlines their shared commitment to promote climate practices and sustainable financing in Egypt.
In its report, the FRA explained that total loans for micro, small, and medium enterprises (MSMEs) in Egypt surged to LE 62.8 billion in March 2024 from LE 40.9 billion in March 2023
Additionally, the committee approved the creation of V.Lens, a company specializing in electronic identification, verification, and authentication services.
“Robo-advisors for Investment” framework has been set by the Financial Regulatory Authority (FRA), regulating the new frontier for FinTech/asset management in Egypt
He emphasized the significant role these funds play in advancing the Egyptian government's efforts to promote financial inclusion.
Farid announced, during his speech at the annual summit of Capital Markets, Monday, the issuance of new rules for the listing and removal of carbon emissions reduction certificates in the coming days.
By the end of November 2023, the number of consumer finance clients also witnessed a growth of 22.8 percent, to reach 3.128 million beneficiaries, compared to 2.546 million clients at the end of November 2022
The primary objective of this resolution is to ensure the financial stability of these companies and their ability to deliver efficient services
The financial derivatives market will enable investors to better manage the risks associated with various investment instruments, and promote further investing in stocks and securities
He added that the authority has set rules focusing on buildings and administrative projects that generate income.
The new procedures are aligned with the government’s strategy to bolster foreign investment in the stock market, update the data of foreign investment institutions already engaged in the EGX, and increase trading of financial instruments and securities.
