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Thursday, 5 August 2021

New state registry for financial intermediaries

Some things we’re keeping an eye on this morning:

  • All financial intermediaries, including brokers, financial advisors, underwriters and the like, acting as go-betweens between SMEs and lenders will need to sign on to a state registry under a bill (pdf) approved by the Financial Regulatory Authority (FRA) yesterday.
  • 3k citizens so far have received new natgas-run cars to replace their old ones, with 1.7k additional cars to be delivered in August.
  • Raya’s Aman Holding and cashback app Lucky have signed a cooperation agreement to provide installment services over six to 24 months to Lucky’s 5 mn users, according to an emailed statement (pdf).
  • Vodafone Egypt has signed (pdf) an MoU with Microsoft to connect entrepreneurs, startups and freelancers with SMEs through its digital platform, Begin, in efforts to develop young people’s digital skills and employability.
  • Japan will increase its grant to Abu Al Reesh Hospital to USD 19 mn, which will be put towards building outpatient clinics.

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