Banque Misr, SFD in Talks over EGP100mn Microfinance Contract

Banque Misr is currently holding talks with the Social Fund for Development (SFD) over an EGP 100 million contract to finance microenterprises in Egypt.

From her part, Nevine Badreldin – Head of SFD for Microenterprises Sector – said the negotiations are ongoing over the type of the financing.

The official expects that contract would be a Shariah-compliant financing and to be signed next February.

Furthermore, Badreldin told Amwal Al Ghad that SFD’s total cumulative portfolio of microenterprises reached EGP 5 billion in favour of around 1.5 million clients.