Al Tadamun Microfinance, CIB sign credit facility agreement worth EGP 150m
Al Tadamun Microfinance Foundation, a leader in financing micro-enterprises for women, announced that it had signed an agreement with the Commercial International Bank – Egypt (CIB) to renew a credit facility agreement worth EGP 150m. This agreement aims to expand
FRA clarifies suspension of new applications for consumer, microfinance companies
The Financial Regulatory Authority (FRA) has detailed the reasons for halting the acceptance of new applications for licences to establish companies aimed at providing micro-project financing or consumer finance through traditional methods. The Authority explained that this step stems from
Egyptian microfinance records EGP 87.5bn in 2023: CBE
The Central Bank of Egypt (CBE) recently reported that the microfinance in the Egyptian market, provided by banks and other financing entities, reached EGP 87.5bn in December 2023. During the period from July 2021 to December 2023, banks injected EGP