Egypt’s leasing contracts surge 48.9% in 9 months: FRA

The total value of leasing contracts recorded 40.5 billion Egyptian pounds in the first nine months of 2019 with a growth rate of 48.9 percent, the chairman of Financial Regulatory Authority, Mohamed Omran.

The number of beneficial investors from microfinance  reached 3 million beneficiaries with total granted loans of 14.9 billion Egyptian pounds.

He added that the total granted mortgage finance amounted to 1.92 billion pounds during the first nine months of 2019  with a growth rate of 37.5 percent.

The total granted mortgage finance has reached 10.7 billion pounds in the past ten years, he added. While the leasing contracts have amounted to 151.7 billion pounds.