By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    World-leading UK hospital signs partnership with specialist healthcare investment firm, Elevate
    World-leading UK hospital signs partnership with specialist healthcare investment firm, Elevate
    March 28, 2023
    EFG Hermes closes EGP 193.65m securitized bond issuance for Premium International
    March 28, 2023
    Australian government strikes deal on climate policy
    Australian government strikes deal on climate policy
    March 28, 2023
    EGX signs MoU to expand scope of regional climate action
    EGX signs MoU to expand scope of regional climate action
    March 28, 2023
    Gold prices drop 1% globally due to measure to contain SVB crisis: Gold Bullion
    Gold prices drop 1% globally due to measure to contain SVB crisis: Gold Bullion
    March 28, 2023
  • Politics
    PoliticsShow More
    Iranian, Saudi FMs discuss imminent bilateral meeting in phone call
    Iranian, Saudi FMs discuss imminent bilateral meeting in phone call
    March 28, 2023
    Kenyan police clash with anti-government protesters
    Kenyan police clash with anti-government protesters
    March 28, 2023
    Russia to stay in World Trade Organization: Russian diplomat
    Russia to stay in World Trade Organization: Russian diplomat
    March 28, 2023
    Israeli PM calls for calm amid turmoil over government's judicial overhaul
    Israeli PM calls for calm amid turmoil over government’s judicial overhaul
    March 28, 2023
    Libyan parties agree to unify all state institutions: UN
    Libyan parties agree to unify all state institutions: UN
    March 28, 2023
  • Interviews
    InterviewsShow More
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: FRA approves three issuances of securitisation bonds worth EGP 23bn
Share
Notification
Latest News
World-leading UK hospital signs partnership with specialist healthcare investment firm, Elevate
World-leading UK hospital signs partnership with specialist healthcare investment firm, Elevate
Business
EFG Hermes closes EGP 193.65m securitized bond issuance for Premium International
Business
Australian government strikes deal on climate policy
Australian government strikes deal on climate policy
Business
Iranian, Saudi FMs discuss imminent bilateral meeting in phone call
Iranian, Saudi FMs discuss imminent bilateral meeting in phone call
World Politics
Kenyan police clash with anti-government protesters
Kenyan police clash with anti-government protesters
World Politics
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 > FRA approves three issuances of securitisation bonds worth EGP 23bn
Business

FRA approves three issuances of securitisation bonds worth EGP 23bn

Daily News Egypt
Last updated: 2022/10/02 at 12:35 AM
By Daily News Egypt 4 Min Read
Share
FRA approves three issuances of securitisation bonds worth EGP 23bn
SHARE

The Financial Regulatory Authority (FRA) approved on Saturday three issuances of securitisation bonds with a total value of EGP 23bn distributed among three companies, of which only one issuance — with a value of about EGP 20bn — is the largest so far.

The recent period has witnessed an increase in the demand of public economic entities in various activities to diversify the sources of funding for their expansions to raise the efficiency of their operations.

This is evident in the steady rise in the values ​​of securitisation bonds and sukuk issuances, as well as other forms of financing provided by non-banking financial markets through the activities the FRA monitors for the safety and stability of its dealings.

The value of the first issuance is EGP 20bn, which is the largest volume of securitisation bonds ever since the regulation of the practice of securitisation operations.

This is the seventh issuance of Tameer Securitisation for financial rights and deferred dues for “a real estate portfolio transferred from the New Urban Communities Authority (NUCA),” according to the FRA’s statement.

The authority also approved the second issue of the first programme for a securitisation company in exchange for a real estate financing portfolio transferred from a real estate financing company with a value of EGP 1.598bn, as well as the second issue of the first programme of Global Corp for securitisation in exchange for a financing lease portfolio transferred from Global Corp for Financial Services with a value of EGP 1.284bn.

FRA Chairperson Mohamed Farid said that the current stage is witnessing an increasing demand by economic entities operating in various productive activities for financing forms provided by non-banking financial activities, which reflects the importance of the non-banking financial sector, as it provides innovative financing solutions that take into account the needs of companies for growth and expansion.

Farid added that the authority is moving forward in adopting and implementing policies and action plans to develop and revitalise the capital market in an integrated manner, including debt instruments represented in corporate bonds, securitisation bonds for future financial rights, in addition to sukuk.

The aim is to deepen the stock market in a manner that is commensurate with the development of the authority’s comprehensive strategy for non-banking financial activities, which seeks to provide various financing solutions to entities licensed to practice real estate financing, consumer financing, financial leasing, factoring, and microfinance in a manner that achieves integration between non-banking financial activities subject to the authority’s supervision.

He added that these financial solutions are financing and investment tools for institutions and individuals, which requires the continuation of improving and developing the procedures for issuing these tools for their prominent role in financing companies, bodies, and public legal persons.

Moreover, Farid explained that allowing trading on them to be issued and registered in an orderly and legal manner encourages many individuals and institutions to consider it as one of the appropriate alternatives to access the necessary financing for growth and expansion, as well as for investment and savings.

You Might Also Like

World-leading UK hospital signs partnership with specialist healthcare investment firm, Elevate

EFG Hermes closes EGP 193.65m securitized bond issuance for Premium International

Australian government strikes deal on climate policy

EGX signs MoU to expand scope of regional climate action

Gold prices drop 1% globally due to measure to contain SVB crisis: Gold Bullion

TAGGED: FRA
Share this Article
Facebook Twitter Email Print
Previous Article EFG Hermes closes second issuance of a securitisation bond worth EGP 2bn for subsidiary Corp-Solutions EFG Hermes closes second issuance of a securitisation bond worth EGP 2bn for subsidiary Corp-Solutions
Next Article Egypt concluded development financing agreements worth $20bn over 2020/21, $5bn of which went to private sector Egypt concluded development financing agreements worth $20bn over 2020/21, $5bn of which went to private sector
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

World-leading UK hospital signs partnership with specialist healthcare investment firm, Elevate
World-leading UK hospital signs partnership with specialist healthcare investment firm, Elevate
Business
EFG Hermes closes EGP 193.65m securitized bond issuance for Premium International
Business
Australian government strikes deal on climate policy
Australian government strikes deal on climate policy
Business
Iranian, Saudi FMs discuss imminent bilateral meeting in phone call
Iranian, Saudi FMs discuss imminent bilateral meeting in phone call
World Politics
//
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?