Cairo – Mubasher: Aman Electronic Payment, a subsidiary of Raya Holding, plans to hold talks with four local banks over getting an EGP 481 million loan to finance small- and medium-sized enterprises (SMEs) as of 2019.

The company aims to increase its capital to EGP 50 million within a year from commencing operations, financed by main shareholders in Raya, CEO Hazem Moghazy told Almal News.

Aman had recently obtained the final licence from the Financial Regulatory Authority (FRA) to conduct microfinance activities.

In January, the company had announced it will launch its operations in the second half of 2018 after getting the FRA’s final approval.