The non-banking financial service provider Tamweely Microfinance is preparing to launch its operations in the field of microfinance leasing within a few days after obtaining a license from the Financial Regulatory Authority (FRA), according to an emailed press release on March 7th.

Tamweely Microfinance seeks to achieve a good market share in this vital sector, which reflects the needs of small and micro enterprises in Egypt.

Ahmed Khorched, CEO and Managing Director of Tamweely, said that by obtaining this license, Tamweely would have turned into an integrated company to serve the micro, small, and medium enterprises (MSMEs).

He added that Tamwely currently serves 400,000 customers through 150 branches in 23 governorates.

Khorched said the total issued financing granted by Tamweely since its inception has reached more than EGP 8.5 billion.

Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).