Cairo – Mubasher: Aman Holding, a subsidiary of Raya Holding for Financial Investments, intends to proceed with the incorporation of two companies under the name Aman for securitisation and consumer financing to complete its non-banking financial services system.
Aman Holding has issued three securitisation bonds worth a total value of EGP 1.65 billion during 2019-2021 to finance long-term projects, according to a recent bourse filing.
The subsidiary is expected to issue a fourth securitisation bond at a value ranging between EGP 500 and EGP 650 million to finance medium- and long-term activities.
In line with Aman’s strategy to increase the volume of small and medium-sized enterprises (SMEs) financing activity, the subsidiary plans to launch a Sukuk programme in the coming period.
The subsidiary also seeks to invest in the consumer financing market by obtaining credit facilities worth a range from EGP 500 to EGP 700 million.
Last year, the board of Raya Holding licensed Aman Financial Services to issue securitisation bonds worth EGP 550-600 million.