Cairo - Mubasher: The Egyptian minister of investment and international cooperation said on Monday that work is underway to issue a number of draft laws that allow new financial instruments in the Egyptian market, and activate leasing tools.
Sahar Nasr added on the sidelines of her meeting with the chairman of the Egyptian Financial Supervisory Authority (EFSA) that the legislative agenda suggested by the EFSA aims at easing financing businesses, as well as updating insurance regulations.
Providing microfinance is among the ministry’s top priorities, Nasr indicated, adding that expanding finance for small- and medium-sized enterprises comes hand in hand with that of big businesses.
The chairman of the EFSA previously said that financial leasing activity grew by 11% in 2016, noting that leasing contracts reached EGP 21.5 billion compared to EGP 19.4 billion in 2015.
