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Osool ESB signs EGP 350M MoU with ADIB’s ADILease

Osool ESB signs EGP 350M MoU with ADIB’s ADILease

ArabFinance: Osool ESB Securities Brokerage (EBSC) announced that it has signed a memorandum of understanding (MoU) with Abu Dhabi Islamic Bank-Egypt’s (ADIB) subsidiary, ADILease Company, to secure a 350 million loan, according to the company’s filing to the Egyptian Exchange on March 30th.

The loan will be allocated to refinance its clients with the margin purchase system through the factoring mechanism in the Egyptian capital market.

The MoU aims at benefiting from the mechanisms developed by the Financial Regulatory Authority (FRA).  

ADILease Company for leasing is an Egyptian joint stock company established in July 2010 as a subsidiary of Abu Dhabi Islamic Bank to provide Shari'a compliant leasing services.

Osool reported an EGP 581,502 net profit in 2020.

The listed company is an Egypt-based company engaged in the securities brokerage sector. The company offers a range of tools include snap tickets, trigger orders, saved orders, web market watch and customizable trading application, and online trading system training services.

 

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