Egypt launches pricing reference index for MSMEs

Egypt has launched on Sunday its first official pricing reference index for financing micro, small and medium enterprises (MSMEs), chairman of the Egyptian Financial Regulatory Authority (FRA) Mohamed Farid announced in a statement.

The new system will be available on the authority’s website with a periodical update, in order to provide the public with accurate data of the total costs of financing to help them make more precise decisions, Farid added.

This indicator marks an important step with the growing  number of beneficiaries of micro, small and medium enterprises finance that reached 3.9 million residents. Funding amounted to 45.5 billion Egyptian pounds at the end of July 2023.

Funding rates of all entities financing MSMEs, licensed by the FRA all over the country, are listed on the index. 

The new index also enhances the authority’s vision to achieve transparency and improve the efficiency and competitiveness of the MSMEs financing market.

https://www.facebook.com/permalink.php?story_fbid=pfbid02UTcLfKzXWiurwetmsrshPFci2HVyxouukjQPDGFBLA4vhE123LW7QnJg7d5uxaXQl&id=100082154756277