In late 2018, the Financial Regulatory Authority (FRA) announced that it has embarked on drafting a new law to organise the activity of consumer financing in the Egyptian market.
Actually, this draft law is considered as the first one to clearly (...)
Financial Markets Adviser and former Chairperson of the FRA, Sherif Samy, said that every country in the world is keen to protect its consumers and to control markets through drafted laws, including activities of services and trade sectors.
But for (...)
According to the CEO and chairperson of B Tech, Mahmoud Khattab, consumer financing in Egypt, or what is known as purchasing on instalment, is an old activity in the Egyptian market which has been practiced since the end of the 1940s. Furthermore, (...)
According to Trading Economics-a leading tracker of 196 countries for more than 20m economic indicators, exchange rates, stock market indexes, government bond yields and commodity prices-consumer credit in Egypt increased to EGP 317,376m in January (...)
For his perspective, the managing director of valU for consumer finance at EFG Hermes, Walid Hassouna, stressed that the new draft law will control consumer finance in the domestic market in a way that can make this sector thrive and attract (...)
Since the Ministry of Petroleum and Mineral Resources has announced the winners in the last gold ore exploring tender conducted in April 2017, the four winning companies have not yet received their five concessions.
Without revealing the reasons (...)
Egypt, undoubtedly, has made progress in eradicating Hepatitis C through a national campaign in this regard. This effort has been acknowledged by all renowned health organisations around the world.
According to The Atlantic, despite the availability (...)
Within the past few years, a number of emerging businesspersons, in their late 20s and early 30s, proved themselves in various fields, employing the implementation of the economic reform policy to play a role in supporting the state to continue its (...)
To meet the demands of the IMF to grant Egypt the $12bn loan, curb the budget deficit, and to deal with the increasing inflation rate, fuel subsidies underwent non-recurrent stages to be phased out, toward being fully suspended in 2019 according to (...)
As former governor of two large governorates, Qaliubiya and Menoufiya, and someone who contributed in drafting the new local community management bill, Adli Hussein introduced an integrated vision of the forthcoming bill, depicting the monitoring (...)
Optimistic for the future of Egypt's economic growth and the performance of the sector, export manager of the Ready Made Garments Export Council of Egypt (RMGEC), Mohamed Al Sayad, said that the RMGEC's exports can hit $1.6bn by the beginning of (...)
In his election programme, President Abdel Fattah Al-Sisi, in first and second term, has undertaken the task to eradicate one of the most significant and critic problems in Egypt which are informal settlements.
Beyond any doubt, this undertaking is (...)
Ambassador Gamal Bayoumi, secretary-general of the Arab Investors Union (AIU), said that injecting more direct Egyptian investments in the African market will significantly help in boosting Egypt's presence in the continent.
He added in an interview (...)
The ministry of finance has announced that the custom dollar price will follow dollar exchange price set by the Central Bank of Egypt for non-essential commodities, raising it by about 15%, while it remains stable for essential and strategic (...)
Amid the current controversy, Maged George, head of the Export Council for Pharmaceutical Industries ‘ECPI,' highlighted that the Egyptian medicine exports sector is going through a serious situation.
He informed Daily News Egypt that this sector is (...)