By: Ahmed Allam
Cairo – Mubasher: The Egyptian Financial Supervisory Authority (EFSA) and the Egyptian Credit Bureau (I-Score) on Sunday signed a protocol to establish and manage movable guarantees.
The signing took place with the attendance of the Egyptian minister of investment and international cooperation Sahar Nasr and the representative of the Central Bank of Egypt (CBE) at EFSA’s headquarters in Smart Village.
I-Score won the deal after competing with five other companies to win the deal to set up and manage movable guarantees, EFSA chairman Mohamed Omran said, revealing I-Score was committed to activate the movable guarantees within six months of signing the contract.
I-Score chairman and CEO Mohamed Kafafi commented that his company won the deal owing to its strong technical abilities.
Activating movable guarantees will help improve Egypt’s rank in the business reports issued by the World Bank, Kafafi highlighted.
Translated by: Mai Ezz El-Din
