As revealed by Dr. Mohamed Omran, Chairman of the Egyptian Financial Regulatory Authority (“FRA”), in a press release this morning, 11 May 2021, the Capital Market Law no. 95 for year 1992 shall be amended to introduce future-cash flows’ receivables securitization. Omran added that such securitization instrument shall be available to public entities and private entities offering public services. Such innovation shall enlarge the securitization sector in Egypt, on the one hand and, on the other, introduce a new financing instrument to the future-cash flows market.
The FRA is to be applauded for such significant and well needed measure that will introduce a new market for securitization. For several year, Dreny and Partners, has actively participated in realizing such innovation by consistently working closely with FRA with the objective of ensuring an effective introduction for such instrument.
On behalf of Dreny and Partners, we are very proud of this enormous step and of being an active member of this continuously improving sector.
Please do not hesitate to contact any of our team members if you need assistance.