Beltone Leasing and Factoring, a subsidiary of Beltone Holding, announced its membership in (FCI,) the leading representative body for factoring and financing open account trade receivables. (FCI) facilitates a unique network for cross-border cooperation and accounts for nearly 60% of global international correspondent factoring volume. The organization focuses on connecting members through cross-border business collaboration, advancing industry growth and best practices through education, and advocating for the industry globally.
This membership positions Beltone Leasing and Factoring as a key player in both the local and regional markets. As an active member, the company gains access to advanced technological platforms such as FCI’s “Edifactoring 2.0” and “FCIreverse,” enhancing its role in global trade and international supply chains.
“Our membership with (FCI) opens new opportunities for collaboration with over 400 companies across 90 countries,” remarked Amir Ghannam, Deputy Head of NBFIs for Leasing, Factoring, and Consumer Finance at Beltone Holding. “It also strengthens our international expansion strategy by leveraging global expertise and the extensive network provided by the organization. Furthermore, the organization’s statistics and market studies will provide us with deeper insights into industry trends and challenges, supporting our strategic plans to deliver superior financial solutions to our clients.
Neal Harm, FCI Secretary General, said: “We are delighted to welcome Beltone Leasing and Factoring into the (FCI) network. Their membership marks an important step in fostering collaboration within the region and beyond. As a prominent player in the Egyptian market, Beltone will undoubtedly leverage FCI’s extensive global network and expertise to drive innovation and growth in the factoring sector, contributing to the development of international trade and setting new benchmarks for the industry.”
Beltone Leasing and Factoring received its factoring license from the Financial Regulatory Authority in September 2023. Recently, the company increased its paid-up capital to EGP 1 billion. Since its inception, the company has facilitated factoring transactions totaling approximately EGP 5.8 billion as of November 2024.
