Cairo – Mubasher: Egypt's financial leasing activity saw a slide in the first quarter of 2016 by 20% year-over-year to EGP5.6 billion from EGP7 billion, said the Egyptian Financial Supervisory Authority (EFSA).
Moreover, financial leasing contracts concluded during Q1-16 declined by 8% to 633 contracts, versus 690 ones made in Q1-15, EFSA chairperson Sherif Samy added.
In 2015, the authority indicated that total financial leasing activities registered a net of EGP19.4 billion, higher 177% year-over-year from EGP7 billion.
Earlier, the authority proposed to involve financial service companies, financial leasing ones in particular, in boosting SME financing initiatives.
