Cairo – Mubasher: The board of directors of Beltone Financial Holding decided to establish a new company ‘Beltone SME’ with an initial capital of EGP 30 million.

The board also approved the updated guidelines of anti-money laundering and countering the financing of terrorism as well as the prevention of conflict of interest, according to a bourse statement on Tuesday.

It is noteworthy that for the full-year 2019, Beltone Financial Holding incurred net losses of EGP 91.5 million, up from EGP 82.4 million in the prior year, including minority shareholders’ rights.