EFSA receives tender offer from Orascom to purchase Sarwa Capital shares

Sun, 18 Nov 2018 - 03:10 GMT

The Egyptian Financial Supervisory Authority (EFSA) announced Sunday that it has received a tender offer from Orascom Investment Holding (OTH) to buy capital shared of the Sarwa Capital company.

Bitcoin is illegitimate in Egypt: EFSA

Sun, 17 Dec 2017 - 06:45 GMT

EFSA allows mere transactions involved in financial control laws.

Microfinance registers LE 6.1B in Q3 2017

Sun, 17 Dec 2017 - 10:43 GMT

A number of 840 entities were granted licenses by the EFSA to operate in the microfinance sector.

Al-Tawfeek Leasing requests listing 24% of shares on EGX

Wed, 06 Dec 2017 - 09:57 GMT

The company posted 13.45 percent decline in its consolidated profits to stand at LE 15.65 million in Q1.

Egypt's Ibn Sina Pharmaceuticals plans December IPO

Thu, 23 Nov 2017 - 09:49 GMT

The offering would range from 5.21 pounds to 5.95 pounds per share.

Mortgage finance contracts reach LE 8.2B

Wed, 22 Nov 2017 - 09:55 GMT

Omran called on firms to expand their work to include pre-delivered residential units.

EFSA studies establishing Transactions Risk Fund: Omran

Mon, 20 Nov 2017 - 01:36 GMT

Omran said the authority will also work on preparing the legal framework for new financial tools, such as the Green Bonds.

Business news wrap-up

Sun, 01 Oct 2017 - 06:01 GMT

A wrap-up for the most prominent business news of the day.

New vice chairman appointed for EFSA

Sun, 01 Oct 2017 - 12:52 GMT

“EFSA is currently imposing an inclusive strategy for non-financial services to boost the role of that sector and provide needed funds for projects,” Nasr said.

Cabinet ratifies law on financial leasing and factoring

Wed, 23 Aug 2017 - 12:42 GMT

The law decreases the fees of the financial leasing contracts by more than 70 percent with a maximum of LE 500 instead of LE 3,000.

Omran appointed as CBE board member

Tue, 22 Aug 2017 - 12:05 GMT

Mohamed Omran will serve as the representative of the Egyptian Financial Supervisory Authority in the Central Bank’s board.

Omran named acting Head of Financial Supervisory Authority

Mon, 21 Aug 2017 - 12:32 GMT

Mohamed Omran has been serving as the Head of the Egyptian Exchange (EGX) for two sessions since September 21, 2011 until August 6, 2017.

Financial regulators deny exchange of Bitcoin in Egypt

Thu, 17 Aug 2017 - 05:26 GMT

The CBE said it had no plans to launch a digital currency exchange.

Pharos Brokerage obtains license to trade in foreign markets

Wed, 09 Aug 2017 - 12:19 GMT

The license will enable Pharos to expand its services in a way that helps its clients and their long-term investment plans.

Amer Group, BNY Mellon ink deal to issue GDRs

Wed, 09 Aug 2017 - 10:44 GMT

Under the agreement, Amer Group will convert and transfer a part of its issued capital into global depository receipts (GDRs).

Microfinance sector grows 23% in 1H 2017

Sun, 06 Aug 2017 - 11:25 GMT

The number of beneficiaries from microfinance initiatives in that period increased 10 percent, registering 1.8 million, EFSA says.

Egypt launches 1st digital map for microfinance

Tue, 01 Aug 2017 - 03:22 GMT

Egyptian Financial Supervision Authority (EFSA) disclosed the 1st digital microfinance map, showing the licensed bodies that practice microfinance on Tuesday.

Financial leasing contracts’ value up 7% to reach in H1 2017

Mon, 31 Jul 2017 - 01:11 GMT

Financial leasing contracts’ value rose 7% to reach LE 11.8 billion in the first six months of 2017 from LE 11 billion in the same period last year.

Amer, Porto Groups to issue GDRs up to 1/3 of capital

Sun, 30 Jul 2017 - 07:37 GMT

Egypt’s Financial Supervisory Authority approves the issuance of Amer and Porto Groups for global depository receipts (GDRs) up to one-third of their capital.

Mohsen Adel appointed temporary chairman for EGX

Sun, 30 Jul 2017 - 06:38 GMT

Mohsen Adel will hold the post as a Chairman for the Egyptian Exchange (EGX) for a transitional period.