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Financial Authority allocates 33.7B pounds for women microfinance
Finance Ministry statistics have shown that microfinance loans allocated to women reached 33.7 billion Egyptian pounds by the end of the second quarter of the year, representing approximately 45.4% of the total finance balances. Women accounted for 52.8% of the beneficiaries. Additionally, the authority has launched policies to enhance women's representation in the non-banking financial sector, including reducing fees and providing facilitation in issuing women’s empowerment bonds, along with implementing governance rules to ensure fair female representation on boards of directors. The authority is also working on developing customer protection measures, especially for women, to prevent defaults and combat fraudulent practices, through verification procedures and awareness activities. Furthermore, the head of the authority announced the upcoming launch of new financial tools, including a law for the sale of borrowed securities and regulation of hedge fund activities, aimed at improving liquidity and stimulating the Egyptian financial market, in order to promote financial inclusion and economically empower and protect women.
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