ArabFinance: Aman for Financial Services, Raya Holding's (RAYA) subsidiary, seeks to expand in micro-financing and consumer financing activities, according to Al-Mal news website.

Aman's expansion plan will be through raising targeted funds volume in 2020, increasing the nationwide branches or providing systems and mechanisms for collecting installments and disbursing funds.

In April, Aman obtained the Financial Regulatory Authority's (FRA) consumer finance license based on the New Consumer act No. 18/2020.

Aman aims to inject up to EGP 200 million funds in microfinance activities, while it targets financing installments to reach about EGP 100-150 million before the end of 2020.

The financial services arm aims to offer financing and e-payment solutions for SMEs.

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