Noqood Finance, a subsidiary of Noqood Holding, has received a final license from the Financial Regulatory Authority (FRA) for lending to small and medium enterprises (SMEs). This initiative is in line with the private sector's commitment to strengthening the national economy and supports FRA's mission to support the growth of start-ups and contribute to an influential Egyptian economy.
The company is dedicated to providing customized financial investments, innovative solutions, and advisory services to small and medium-sized businesses. These initiatives aim to respond to the needs of local communities, promote sustainable development, and improve Egypt's economic and social framework.
Hazem Anbar, CEO of Noqood Finance, said: Our goal is to help small and medium-sized businesses realize their ambitions and business goals. As a specialized platform, we are equipped to meet the varying financial requirements of these businesses, offering a wide range of innovative and accessible financial solutions. ”
He further added, “The steady increase in small and medium-sized enterprises (SMEs) emphasizes that adequate financing is critical. Noqood Finance's license acquisition will strengthen our ability to provide superior financial services in line with the market. It is a sign of confidence in the Egyptian government and strengthens the Egyptian government's financial inclusion and digitalization goals.”
Abdelrahman Ali, CEO of Noqood Holding, added: “This licensing is a strategic enhancement to our portfolio. We are committed to providing our clients with the tools to grow their businesses and devise financial strategies that advance the national economy. We are invested in the success of startups and prioritize supporting them as they navigate Egypt's fast-growing business environment.”
