SFD To Launch Restricted Speculation System To Finance SMEs in Egypt

Ghada Wali,  general secretary of the Social Fund for Development (SFD), has announced on Monday that the fund will be activating next month the Restricted Speculation system in accordance with the US$ 50 million loan provided by the Islamic Development Bank (IDB). IDB’s loan has been designated to finance the Small and Medium Enterprises (SMEs) in Egypt.

On the sidelines of ‘The Innovative Financing Mechanisms for SME in Egypt’ conference, Ms. Wali stated that the Restricted Speculation services draft has been sent to the Egyptian Ministry of International Cooperation following the Upper House (Shura Council)’s approval.