Tasaheel concludes Egypt's largest corporate bond issuance worth EGP2.5bln
Tasaheel's issuance, which received an investment-grade BBB+ rating from Middle East Ratings and Investor Services (MERIS), comes in two tranches: the first tranche valued at EGP 2 billion with a tenor of 12 months, and the second tranche valued at EGP 500 million with a tenor of 36 months.
Mounir Nakhla, Founder and CEO of MNT-Halan, commented:
"Issuing Egypt's largest corporate bond marks a major milestone for MNT-Halan. It reflects the ambition of our management team and the strength of our financial and operational performance. More importantly, it opens a strategic new funding channel that will support our next phase of growth. It has been a complex and demanding process, and we are proud to have delivered it successfully."
Islam Ayyoub, Managing Director of Tasaheel, added:
"This issuance supports our ability to meet growing demand for business loans and reinforces the scale and efficiency of our lending operations. It reflects confidence in our business model and our commitment to serving more small and medium-sized businesses across Egypt."
CI Capital acted as the issuance manager and bookrunner, while KPMG – Hazem Hassan served as the financial auditor, and Matouk Bassiouny & Hennawy acted as the legal advisor for the transaction.
About MNT-Halan
MNT-Halan, Egypt and MENA's first fintech unicorn, was founded in 2018 with a mission to improve lives by revolutionizing access to financial services through technology. MNT-Halan provides business and consumer loans, prepaid cards, e-wallets, savings, and e-commerce services through the Halan app and a nationwide physical presence. Since inception, MNT-Halan has served more than 8 million customers globally by providing financial services for both individuals and businesses.
MNT-Halan holds Microfinance, SME finance, Consumer Finance, and Nano Finance licenses from the Egyptian Financial Regulatory Authority (FRA), as well as the first independent Electronic Wallet license from the Central Bank of Egypt (CBE) to disburse, collect, and transfer money digitally through mobile applications.
The company has received many accolades, including being named the Most Innovative Fintech Company in the Middle East and Africa by Global Finance Magazine, featured on the Financial Times' list of Africa's Fastest Growing Companies for three consecutive years, and listed in Forbes Middle East's The Middle East's Fintech 50.
Its Egyptian subsidiary has also been awarded the Bronze Client Protection Certificate by MFR Global Rating Agency (under the Cerise + SPTF framework) and holds ISO/IEC 27001 certification for meeting the highest international standards in data protection, risk management, and compliance.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
2 days ago
- Arabian Business
Saudi Arabia's Mukaab megaproject to get smart tech from PIF-backed firms in new deal
Two Saudi companies backed by the Public Investment Fund (PIF), New Murabba and Alat, have signed an agreement to work together on new technology for The Mukaab and other smart city projects planned in Riyadh's New Murabba district. The agreement focuses on the deployment of next-generation innovations aimed at delivering an immersive and intelligent experience for visitors and residents. Among the areas of collaboration are cutting-edge digital environments, AI-driven infrastructure, and advanced vertical mobility systems, including future-ready elevators and escalators. يسعدنا الإعلان عن توقيع مذكرة تفاهم جديدة مع شركة ألات، في خطوة جديدة نحو دمج أحدث التقنيات داخل #المكعب وفي المشاريع المستقبلية ضمن نطاق #المربع_الجديد ، سنعمل معًا لتقديم تجارب رقمية رائدة، واستكشاف فرص توطين الإنتاج التقني داخل المملكة، وتعزيز الابتكار بالتناغم مع مستهدفات… — New Murabba (@newmurabba) August 1, 2025 'This MoU marks a major milestone in our journey to deliver New Murabba and The Mukaab,' said Michael Dyke, CEO of New Murabba. 'Our partnership with Alat underscores our commitment to harnessing next-generation technologies that deliver exceptional experiences and support the creation of a smart urban destination.' The Mukaab is the centrepiece of the planned New Murabba development in Riyadh — a cube-shaped, immersive mixed-use structure touted as one of the most ambitious architectural projects in the Kingdom. In line with Saudi Arabia's Vision 2030, the agreement also seeks to identify optimal strategies for funding early-stage hardware investments and R&D. The two companies will assess the feasibility of establishing technology production facilities within the Kingdom to support localisation goals and deliver resilient, scalable hardware solutions. 'The MoU with New Murabba marks a bold step toward shaping the future of tech-enabled urban living,' said Amit Midha, CEO of Alat. 'By uniting Alat's AI-driven hardware with New Murabba's visionary approach, we aim to deliver intelligent infrastructure and transformative experiences.' The agreement also includes plans for long-term operational support, including post-installation upgrades, maintenance protocols, and warranty management for integrated systems. The collaboration reflects a broader PIF strategy to position Saudi Arabia as a global hub for future-facing technologies, economic diversification, and sustainable urban development. Both firms described the deal as a strategic move toward building a world-class smart city ecosystem, with The Mukaab envisioned as a 'Gateway to Another World.'
Zawya
07-07-2025
- Zawya
Egypt rolls out broader personal accident insurance policy for citizens abroad
Arab Finance: The Ministry of Foreign Affairs and Immigration, in cooperation with the Financial Regulatory Authority (FRA), has developed a more comprehensive personal accident insurance policy for Egyptians abroad and their families, according to a statement. This falls within President Abdel Fattah El-Sisi's directives to provide comprehensive care to Egyptians abroad. The compensation value in cases of death or total disability has been increased to EGP 250,000 from EGP 100,000, effective this July. On his part, Minister of Foreign Affairs and Immigration Badr Abdelatty stated that this move reflects the state's commitment to protecting Egyptians abroad as well as their families. The decision also provides a secure insurance umbrella that strengthens their connection to their homeland, Abdelatty added. He noted that the ministry will coordinate with the FRA to develop further mechanisms to protect the Egyptians' rights. Mohamed Farid, Chairman of the FRA, said the policy represents a successful model of institutional cooperation, emphasizing the expansion of coverage to include all Egyptians working abroad and their families, not just those with work permits. Hence, it promotes insurance fairness and financial inclusion. Egyptians abroad and their families can subscribe through the Egyptian Pool for Travel Insurance's website, app, or WhatsApp. Coverage includes natural or accidental death, as well as total disability. It also covers the cost of transporting the body or its equivalent in the event of burial abroad, up to a maximum of EGP 250,000. The insured must be at least 18 years old and no older than 70 at the time of the accident. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Arabian Business
02-07-2025
- Arabian Business
Saudi Arabia cracks down on bribes, kickbacks, frauds, kidnapping and more
Saudi Arabia's Oversight and Anti-Corruption Authority (Nazaha) revealed a number of criminal cases in which it has taken action against the offenders as part of its mandate to root out corruption and strengthen integrity across the country. The Authority stated that its latest investigations – involving customs, municipal affairs, the judiciary, education, healthcare, and security sectors – have resulted in multiple high-profile arrests. #هيئة_الرقابة_ومكافحة_الفساد تباشر عدداً من القضايا الجنائية والإدارية خلال شهر يونيو 2025م. — هيئة الرقابة ومكافحة الفساد (@nazaha_gov_sa) July 1, 2025 Nazaha reaffirmed its firm commitment to transparency, accountability, good governance, enforcing the law and preserving the public interest. It added that all individuals involved in these cases will be held fully accountable, regardless of rank, affiliation, or retirement status, reiterating that corruption-related crimes are not subject to a statute of limitations. Saudi authority exposes major corruption cases The Authority highlighted a particularly serious case, in which a Ministry of Interior security officer and an accomplice were arrested for kidnapping a company collector and stealing SAR 707,000 (US$188,535). Several of the cases involved corruption in customs and municipal services. Two customs employees and a broker were arrested after allegedly accepting SAR 400,000 (US$106,666) in bribes to expedite the import process for trucks. One municipal department head was found to have SAR 7.1 million (US$1.89 million) in personal accounts linked to the illegal cancellation of commercial fines. A police officer and a municipal employee were detained for allegedly receiving SAR 110,000 (US$29,333) from business owners in exchange for facilitating the illegal extraction and sale of metals from government buildings. The scheme, over the years, generated over SAR 4.6 million (US$1.23 million) for the perpetrators. Nazaha also unearthed the case of one official, who offered SAR 100,000 (US$26,666) to a colleague to manipulate contract outcomes. Other violations included municipal employees accepting bribes to overlook regulatory breaches, shop violations, and illegal construction activity. Judicial integrity also came under scrutiny, with a court clerk arrested after taking SAR 32,500 (US$8,666), half of a promised sum of SAR 65,000 (US$17,333) to influence the outcome of a criminal case and secure an acquittal. In the education sector, a resident was taken into custody for receiving over SAR 230,000 (US$61,333) to manipulate the awarding of subcontract work on Ministry of Education projects. The healthcare sector also came under the Nazaha radar. Senior procurement officials in regional health clusters were arrested for soliciting bribes in exchange for awarding contracts. Also, a doctor at a government hospital was arrested for issuing fraudulent medical leave documents in exchange of money.
