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Hani Tawfiq warns of risks in consumer loans
The article states that the rapid growth of consumer finance in Egypt poses significant risks, as the value of financing granted during the first half of 2026 increased by 88.5% to reach approximately 71.8 billion Egyptian pounds, with the number of beneficiaries rising to 8.5 million customers by 75.7%. The focus of this financing primarily revolves around purchasing consumer goods such as electronics and home appliances, accounting for 22.7%, as well as cars and vehicles at 22.3%. At the same time, the domestic savings rate has declined to 1.2% of GDP in the fiscal year 2024/2025, compared to higher rates in previous years, leading to a widening gap between investment and savings. Experts indicate that some of the money traditionally saved has been diverted into other assets, as the Financial Regulatory Authority begins implementing customer behavior assessment procedures to better monitor risks.
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