Leasing activity in Egypt may increase to 21.5 bln pounds at the end of 2017

Egypt’s leasing activity is expected to increase recording 21.5 billion Egyptian Pounds ($1.2 billion) by the end of the current year, Shahinaz Rashad Executive Director of the financial service institute.

She said on the side lines of a forum regarding the Islamic funding of the small and medium enterprises that the volume of leasing activity has reached 20 billion pounds by the end of the third quarter of the current year.

Rashad added that the laws and regulations issued by the financial supervisory authority have contributed with supporting the non-banking financial activities, referring that the non-banking financial sector represents 8.11 percent of the financial sector in the market.

On the other hand, the number of micro-finance clients have registered 2.2 million clients by the end of the third quarter of the current year. While the micro-finance accounts have achieved growth by 69.9 percent at Q3 2017.