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Dr. Mohamed Omran held a Meeting with EFSA’s Employees


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• The Authority works in an institutional framework that completes the achievements of the former Chairmen
• Reducing the time required to complete transactions while adhering to the quality of work

Dr. Mohamed Omran, EFSA’s Acting Chairman met EFSA’s employees in presence of Counselor – Reda Abd ElMoaty Vice Chairman of the Authority and number of EFSA’s leaders. The meeting started by thanking Mr. Sherif Samy and appreciating his efforts as this period has witnessed major developments in the legislative structure of non-banking financial services, referring to the Council of Ministers’ approval on financial leasing and factoring laws after being presented by the Minister of Investment and International Cooperation Dr. Sahar Nasr. Dr. Omran noted that the new Laws will offer long-term financing and liquidity to provide a working capital cycle (WCC) in order to meet projects’ needs.

Omran confirmed that the Authority works in an institutional framework that is not connected to people and that the Authority in the coming period will complete the plan of former chairmen in developing the legislative structure and improving services provided to EFSA’ clients by reducing the time required to complete the transactions while adhering to the quality of work.

Dr. Mohammed Omran said that the Authority is working to carry out number of development researches related to its scope of work and to follow up the speed and accuracy of the tasks assigned to each department, stressing on the importance of upgrading the skills of the employees and providing them with training programs in order to help them in their supervisory and service role.
Omran added that a meeting was held yesterday with EFSA’s BOD. The Board was informed that the Authority chose the Egyptian Credit Information Company (I- SCORE) to establish and manage Movable Guarantees Registry. He noted that the contract is being finalized with the company within 10 working days. And the actual application will be held within six months from the contract’s date.

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Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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