Jordan’s Ethmar for Islamic Microfinance eyes Egypt entry – CEO

16 May 2018

Jordan-based Ethmar for Islamic Microfinance is planning to invest in Egypt in the coming three or five years, CEO Zayad Al Refai has said.

About 40% of credit seekers in the North African nation want to obtain sharia-compliant financing, compared to 30% in Jordan, Alborsanews newspaper reported, citing Al Refai as saying.

The Jordanian Islamic microfinance firm has investments amounting to $7 million, while it finances more than 3,000 clients with a combined sum of around $4 million.

Ethmar for Islamic Microfinance is at pains to raise its financing portfolio to $38 million by 2020, as well as increase its clients to 25,000.


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