Cairo - Mubasher: The value of Egypt's financial leasing contracts increased by 31% during the first ten months of 2017, chairman of the Financial Regulatory Authority (FRA) Mohammed Omran said in a statement on Monday.
The value of the financial leasing contracts grew to EGP 22 billion compared to EGP 16.7 billion during the same period a year ago, the statement added.
However, the number of contracts declined by 24% to 1496 contracts in October 2017, from 1964 in the same period a year earlier, Omran said.
The real estate sector came first in terms of the financial leasing value, making up 71% or EGP 15.5 billion of contracts, followed by the cargo vehicles with 6.6% or EGP 1.44 billion, FRA chairman added.
Moreover, four financial leasing companies were registered by October 2017, brining total registered firms to 226, including 27 firms were active during the 10-month period.
