By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Egypt invests trillions in infrastructure to boost economic future: Al-Sisi
    Egypt invests trillions in infrastructure to boost economic future: Al-Sisi
    September 26, 2023
    State Secretary for Economic Affairs Helene Budliger Artieda
    Opinion| Switzerland, a reliable partner of Egypt in a changing world
    September 26, 2023
    Tatweer Misr breaks sales record in H1 2023
    Tatweer Misr breaks sales record in H1 2023
    September 25, 2023
    Real estate exports boost Egypt’s economy, Cityscape panel reveals
    Real estate exports boost Egypt’s economy, Cityscape panel reveals
    September 25, 2023
    SODIC reports 22% sales growth in 2023
    SODIC reports 22% sales growth in 2023
    September 25, 2023
  • Politics
    PoliticsShow More
    Presidential election in Egypt set for 10-12 December
    Presidential election in Egypt set for 10-12 December
    September 25, 2023
    Defence Minister meets NATO Military Committee chief
    Defence Minister meets NATO Military Committee chief
    September 25, 2023
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    September 24, 2023
    Al-Sisi highlights opportunities for mutual benefit with China
    Al-Sisi highlights opportunities for mutual benefit with China
    September 24, 2023
    Egypt, India affirm their strategic partnership, discuss regional issues
    Egypt, India affirm their strategic partnership, discuss regional issues
    September 24, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Rawaj targets start of consumer finance operations by Q3 2021
Share
Notification
Latest News
AIIB’s investment portfolio in Egypt reaches $1.3bn with potential for over $1bn in various sectors: Maait
AIIB’s investment portfolio in Egypt reaches $1.3bn with potential for over $1bn in various sectors: Maait
Egypt
Egypt invests trillions in infrastructure to boost economic future: Al-Sisi
Egypt invests trillions in infrastructure to boost economic future: Al-Sisi
Business
State Secretary for Economic Affairs Helene Budliger Artieda
Opinion| Switzerland, a reliable partner of Egypt in a changing world
Opinion Business
Presidential election in Egypt set for 10-12 December
Presidential election in Egypt set for 10-12 December
Politics Egypt
Tatweer Misr breaks sales record in H1 2023
Tatweer Misr breaks sales record in H1 2023
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Rawaj targets start of consumer finance operations by Q3 2021
Business

Rawaj targets start of consumer finance operations by Q3 2021

Alyaa Stohy
Last updated: 2021/06/28 at 11:16 PM
By Alyaa Stohy 2 Min Read
Share
Rawaj targets start of consumer finance operations by Q3 2021
SHARE

A source has exclusively told Daily News Egypt that Rawaj, a subsidiary of Arabia Investments Holding (AIH), will start operating under its consumer finance licence by the third quarter (Q3) of 2021.

Rawaj is focusing on digitising the operations of the business to maintain simpler and easier operations with the customer. It will also implement a customer-centred approach within the new consumer finance activities that are expected to start in the second half (H2) of the year.

The source added that the management at AIH is planning to establish a fully-fledged non-bank financial service (NBFS) company in the near future, by adding new activities including insurance and mortgage financing.

The management is implementing sukuk issuance amounting to EGP 200-300m, which will be finalised by the end of this year. It also targets another two sukuk issuance during 2021, which will be one convertible and one callable.

It is looking to securitise a portion of the portfolio that is worth EGP 1.5bn. According to the management, this is expected to take place by the end of Q3 of 2021 or the beginning of Q2 of 2022, and is set to generate a one-time profit that will depend on the quality of portfolio

The source added that the management is planning to split AIH into two separate holding listed companies by Q1 of 2022. One company will include all the traditional investments (Construction and Materials), whilst the other will include all NBFS investments. 

This is in addition to AIH creating a single corporate identity for all the subsidiaries in the group, which will take place by launching a single corporate customer-facing brand.

You Might Also Like

Egypt invests trillions in infrastructure to boost economic future: Al-Sisi

Opinion| Switzerland, a reliable partner of Egypt in a changing world

Tatweer Misr breaks sales record in H1 2023

Real estate exports boost Egypt’s economy, Cityscape panel reveals

SODIC reports 22% sales growth in 2023

TAGGED: Rawaj
Share this Article
Facebook Twitter Email Print
Previous Article Egypt’s growth to rebound from 2.8% in FY 2021 to 5.2% in FY 2022: IMF
Next Article Egypt committed to supporting international efforts against ISIS: Foreign Minister Egypt committed to supporting international efforts against ISIS: Foreign Minister
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

AIIB’s investment portfolio in Egypt reaches $1.3bn with potential for over $1bn in various sectors: Maait
AIIB’s investment portfolio in Egypt reaches $1.3bn with potential for over $1bn in various sectors: Maait
Egypt
Egypt invests trillions in infrastructure to boost economic future: Al-Sisi
Egypt invests trillions in infrastructure to boost economic future: Al-Sisi
Business
State Secretary for Economic Affairs Helene Budliger Artieda
Opinion| Switzerland, a reliable partner of Egypt in a changing world
Opinion Business
Presidential election in Egypt set for 10-12 December
Presidential election in Egypt set for 10-12 December
Politics Egypt
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?