Arab Finance: EFG Finance, a subsidiary of subsidiary of EFG Holding, is seeking to obtain licenses to provide the services of digital contracts and digital identity (ID) for non-banking financial activities within 2024, EFG Hermes’ CEO of Non-Banking Finance Sector Alaa Afifi told Asharq Business.
The company also aims to receive a small and medium-sized enterprises (SMEs) finance license, Afifi added.
Obtaining these licenses will serve the digital infrastructure of all of the group’s subsidiaries that run non-banking financial activities, Afifi said.