Banque Du Caire has approved to offer a finance of EGP 75 million to a finance leasing company in Egypt. Such loan will be used to finance the company’s finance leasing services approved by the company for its customers working in the industrial sector, sources said, but declined to say the name of the company.
Banque Du Caire pays great attention to financing finance leasing companies because of the increasing demand on these services, sources said, expecting the finance leasing sector to flourish in the upcoming period after allowing Islamic banks to offer Ijara (Islamic lease) services.
The bank earlier approved to offer credit facilities of EGP 50 million to the Universal Engineering Industries and credit facilities of EGP 25 million to a company subsidiary to Taqa Arabia.
