SFD To Offer EGP 1.5 Bln SME Finances In 2013

The Social Fund for Development (SFD) targets to offer finances worth EGP 1.5 billion in 2013 to small and medium enterprises (SMEs), compared with EGP 1.3 billion in 2012.

Sources said SFD plans to offer Murabaha finance this month to meet the increasing demand for Islamic Sharia-compliant financing products in the current period.

SFD aims at restructuring all non-financial services to help individuals market their projects through establishing fairs and helping them in exporting their products, sources added.

Sources revealed that delinquency rate of SFD’s finances is less than 2.5% of the total value of finances offered by SFD to SMEs.