Arab Finance: AMAN Holding has approved raising its capital by EGP 450 million to reach EGP 1.065 billion, according to an emailed press release on November 7th.
The capital increase is part of AMAN's strategy to broaden its offerings and foster the advancement of electronic payments and non-banking financial solutions.
“We are allocating an EGP 150 million capital increase to AMAN for Financial Services, EGP 100 million to AMAN for Consumer Finance, EGP 50 million to AMAN for E-Payments, EGP 70 million to AMAN for Microfinance, and an additional EGP 80 million for investments in the Kingdom of Saudi Arabia," Hazem Moghazi, CEO of Business and Commercial at AMAN Holding, said.