Cairo - Mubasher: The Egyptian Financial Supervisory Authority (EFSA) is communicating with the government to provide grants for the non-banking financial services companies operating in underprivileged areas, according to EFSA’s chairman.
Sherif Samy added in his speech to the Portfolio Egypt conference on Sunday with the size of some of these companies, we hope to soon see some of it being listed on the Egyptian Exchange (EGX).
In the last couple of years financial services companies have expanded in non-banking activities such as leasing and real estate financing.
Non-banking financial services activities reached EGP 9 billion in the first quarter of 2017, with some Arab capitals recently entering the sector, Samy noted.
EFSA is also discussing with the Central Bank of Egypt (CBE) supporting small and medium enterprises (SMEs).
