Egypt Finalizes Microfinance Law

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Oct 2009
Egypt, October, 27 2009 - The Ministry of Investment finalized a law approving the establishing of microfinance companies.

The companies approved are to have a minimal capital of LE 5 million, while they are prohibited from accepting deposits and transferring or exchanging money.

Around 21 million people are expected to benefit from the new microfinance program, according to estimates from the ministry.



Source : ArabFinance
 

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