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I-Score to enroll installment selling financiers among its clients base

Tuesday 25 September 2018 09:09 PM


By Ahmed El-Desouky & Sayed Badr
I-Score Egypt is set to add up installment financing firms to its clients base in the upcoming period in observance of guidelines set forth by the Central Bank of Egypt for loans extended by banks to such firms.
"Up to 10 firms  financing installment selling are already registered as clients of I-Score Egypt," I-Score chairman Mohmed Kafafi told Al-Mal newspaper.
Kafafi lauded the new regulations unleashed by the Central Bank of Egypt, adding that earmarking no more than  35 percent of income for the payment of the monthly installments shall relieve clients from mounting financial burden.   
On the same vein, Kafafi noted that a meeting with factoring companies will be held tomorrow in order to add them  up to I-Score client base and to make them eligible for subscribing in Financial supervisory Authority's Movable Guarantees Registry.
I-Score Egy is poised to seal a deal with Traffic General Authority and CBE for computerizing letters issued by MGR, he continued.