Maximum limit of micro-finance doubled to LE 200K: FRA

CAIRO – 22 May 2019: The Financial Regulatory Authority (FRA) has approved to increase the maximum limit of financing provided to the micro enterprises from LE 100,000 to LE 200,000.

The decision was made to help the emerging projects increase their activities, the matter which would contribute to creating more job opportunities for youths.

In a statement on Wednesday, the FRA said that its board of directors approved a draft amendment on some provisions of law No. 141/2014 on regulating micro-finance of the Micro, Small and Medium Enterprises (MSMEs) in order to allow entrepreneurs to benefit from the offered financial services.

The draft amendment will be presented to the prime minister for approval, the statement read.