Mubasher TV
Contact Us Advertising   العربية

EFSA: leasing contracts reached EGP15bn in 2016

EFSA: leasing contracts reached EGP15bn in 2016
EFSA chairman Sherif Samy during his speech to the second annual leasing conference

By: Mostafa Adel

Cairo - Mubasher: The Egyptian Financial Supervisory Authority (EFSA) chairman Sherif Samy said that financial leasing contracts in Egypt totalled EGP 15 billion in the first nine months of 2016, up from EGP 13 billion in 2015.

Samy’s remarks were made on the sidelines of the second annual leasing conference on Tuesday, where he said that real estate activity is leading in leasing contracts followed by transportation.

During the period between January and August 2016, leasing contracts reached around EGP 13.75 billion with a 7% year-on-year increased, Samy said earlier.

EFSA announced on the beginning of October, that the new financial leasing and factoring draft law will be subject to a society discussion with specialists, as well as financial institutions and business firms.

Translated by: Moslem Ali