Egypt is in the process of increasing the maximum loan size that microfinance institutions (MFIs) may disburse from EGP 100,000 (USD 6,000) to EGP 200,000 (USD 12,000). The goal of the change reportedly is to help microenterprises grow, thus “creating more job opportunities for youth.”
Non-bank microlenders in the country are regulated by Egypt’s Financial Regulatory Authority. The five MFIs that report data to the US-based, nonprofit Microfinance Information Exchange report an aggregate gross loan portfolio of USD 187 million serving 1.05 million borrowers. None accept deposits.
By the MicroCapital team
Sources and Additional Resources
Ahram Online article
http://english.ahram.org.eg/NewsContent/3/12/332082/Business/Economy/Egypts-FRA-doubles-maximum-credit-limit-for-micros.aspx
Financial Regulatory Authority of Egypt homepage
http://www.fra.gov.eg/
MIX Market profile on Egypt
https://www.themix.org/mixmarket/countries-regions/egypt
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