2.2 million clients received microfinance by end-September 2017

Daily News Egypt
1 Min Read
These projects can benefit from the Social Fund or financial leasing companies and venture capital firms, or even associations that are specialised in microfinance.

The number of clients who obtained microfinance services reached 2.2 million by the end of the third quarter of 2017, according to Shahinaz Rashad, head of the Financial Services Institute affiliated with the Egyptian Financial Supervisory Authority (EFSA).

She explained that ladies acquire 70% of these funds, praising the role that the microfinance law played in supporting this activity.

She noted that this law focused, in its articles, on production activities rather than consumer activities.

According to Rashad, the law and regulatory issuances of the EFSA have contributed to supporting non-banking financial activities, noting that the non-banking financial sector represents about 8.11% of the total financial sector in Egypt.


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