The Financial Regulatory Authority (FRA) has raised the maximum limit for cash advances granted for consumer purposes to EGP 50,000, instead of EGP 10,000.

Contact Financial Holding announced that its digital consumer finance arm, Contact Creditech, has obtained a fintech license from the Financial Regulatory Authority (FRA).

B.TECH, a leading retailer of electronics and home appliances in Egypt, has signed a cooperation protocol with Valu, Egypt’s leading lifestyle-enabling fintech platform.

The Financial Regulatory Authority (FRA) has decided to suspend issuing new licenses for companies seeking to engage in consumer finance or microfinance for one renewable year starting October 11th.

The total value of capital market issuances in Egypt rose by 45% in the first seven months of 2024, reaching EGP 344.931 billion, versus EGP 237.826 billion during the same period last year, according to the Financial Regulatory Authority’s (FRA) report on non-banking financial activities for July 2024.

Talaat Moustafa Group Holding (TMG Holding) is looking forward to entering the consumer finance field through Orion Facility Management Services.

Al Ahly Capital, the investment arm of the National Bank of Egypt (NBE), announced the upcoming launch of a new consumer finance company by the end of this year or early 2025, CEO and Managing Director Karim Saada told Asharq Business.

The consumer finance firm MID Takseet has partnered with the financial services provider Paymob to promote access to top-notch consumer finance solutions in Egypt.

Egypt Post is planning to make new direct investments worth EGP 6 billion in 2024, Chairman Sharif Farouk said.

Contact Financial Holding (CNFN) has inked a partnership agreement with the financial services provider KashNow, a subsidiary of Noqood Holding, to provide consumer financing services, according to an emailed press release on October 10th.

Arab Finance: Contact Creditech, the digital consumer finance arm of Contact Financial Holding, has signed a cooperation agreement with the financial services provider Telda to offer consumer finance services to the latter’s customers.

Contact Creditech, the digital consumer finance arm of Contact Financial Holding, has signed an agreement with Vodafone Egypt to launch consumer finance services for the latter’s customers

Consumer finance company One Finance has signed a deal with the credit information company CRIF Egypt to access the latter’s services in the fields of business intelligence and credit risk management.

Old owners of BMW and MINI cars will also be able to benefit from the new insurance solutions and programs provided by Global Auto in cooperation with Contact Insurance Brokerage, as long as their cars have valid insurance coverage from any other insurance firm.