Egypt’s Financial Regulatory Authority (FRA) has barred consumer finance companies from financing gold and other precious metal products, while introducing quarterly reporting requirements for interest rates and administrative fees.
Under one circular, companies cannot finance gold bars, gold jewelry, or bars and jewelry made from other precious metals, including silver and platinum. The FRA said these products are not included among the consumer goods and services eligible for financing under Consumer Finance Law No. 18 of 2020.
A second circular requires companies to submit quarterly data on financing interest rates and administrative fees. The reports must also include the average rate of return and administrative fees calculated on customer financing. The requirement begins with data for 2025.
The measures narrow the categories of purchases eligible for consumer financing and give the regulator more regular visibility into rates and fees across the sector. According to the announcement, the reporting process follows procedures already used for financing micro, small and medium-sized enterprises.
Source: Waya
