Egypt to finalise drafting new leasing, factoring bill in Sept: watchdog

The Egyptian Financial Supervisory Authority (EFSA) says it intends to finalise drafting a new bill on leasing and factoring activities and to launch a community dialogue round next September.

According to Sherif Samy, EFSA chairman, the new law aims to organise the financial activities and boost growth rates in both leasing and factoring activities in the coming period.

“I expect discussions on the new law will end within next October.” Samy said.

Leasing activities in Egypt recorded a 175 percent y-o-y rise throughout 2015; while factoring posted a 24 percent full-year growth, the Egyptian top official added.