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MENA

EFG Hermes Holding posts net profit of EGP345m in...

EFG Hermes Holding announced a strong first-quarter performance in 2022, with revenues increasing by 55% year-on-year (y-o-y) to EGP 1.9bn. The group's net profit after tax and minority interest increased 18% year on year to EGP345m, owing to strong performance...

#EFG Hermes#financial services#interest

UAE factoring industry records a difficult year in 2020

The UAE is the world’s 30th largest economy, and enjoys strong financial reserves... (more…)

#bad debts#bank#risk


Israeli start up raises US$100m and plans launching invoice...

Unit, an Israeli start up, announced on Tuesday that it has raised ... (more…)

#financial services#invoice#software


Amethis, EBRD and SPE Capital acquire factoring player in...

A consortium of investors made up of Amethis, the European Bank for Reconstruction and Development (“EBRD”), and.... (more…)

#GlobalCorp


Abu Dhabi Commercial Bank joins UAE Trade Connect fintech...

Abu Dhabi Commercial Bank (ADCB) has joined the UAE Trade Connect (UTC) consortium... (more…)

#bank#blockchain#invoice


Afreximbank releases consolidated financial results for 2021

African Export-Import Bank (“Afreximbank” or the “Bank”) has released the consolidated financial statements of the Bank ... (more…)

#bank#guarantees#management


Egypt runs trial e-invoice system

Egyptian Finance Minister Mohamed Maait announced that on April 15, a trial run of the "e-invoice" system would be introduced…

#e-invoice system#invoice#risk


Banque Misr in Egypt automates trade finance with Finastra

Finastra today announced that Banque Misr, the second largest national bank in Egypt with international presence... (more…)

#Finastra


Zomato chooses Invoice Bazaar to bring working capital to...

Invoice Bazaar, the Dubai-based inclusive finance platform owned by fintech holding company Triterras Inc., and food delivery leader Zomato, one…

#Invoice Bazaar#Triterras


UAE Factoring Law: A framework to support a growing...

Federal Decree Law No (16) of 2021 (Factoring Law) was issued on 29 August 2021 and came into effect... (more…)

#factoring law#Trade Finance Market#trade receivables finance


Contact Factoring of Egypt plans factoring development in 2022

Contact Factoring, a subsidiary of Contact Financial Holding, intends to grow the size of its factoring portfolio to EGP 1bn…

#3M#interest#smes


Emirates Development Bank and Dubai Islamic Bank sign MoU...

The Emirates Development Bank (EDB), a key financial enabler of the country’s economic diversification and industrial transformation agenda, and Dubai…

#bank#guarantee#guarantees

CI Capital Egypt plans to launch factoring services in...

In order to develop the existing offer and expand the company’s portfolio, CI Capital Holding (CI Capital) will launch factoring…

#acquisition#bank#WHO

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