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بوابة الشروق
CEO explains credit score requirements
The article discusses the approval conditions for consumer finance applications in Egypt. Mohamed El Shabrawy, the CEO of the Consumer Finance Company, explained that companies refuse to deal with customers who show difficulties in their credit file, known as "I-Score." Customers must successfully pass an assessment process based on personal and financial data, including their credit history and current financial commitments. He emphasizes that the outcome depends on how regularly the customer makes payments. He also noted that the minimum amounts granted range between 10,000 and 15,000 Egyptian pounds in the first year. Contrary to popular belief, companies do not frequently issue large sums; instead, they rely on personal evaluations and accurate data to ensure the customer's repayment ability. Additionally, he stresses that a customer's financial hardship prevents them from obtaining financing from any institution.
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