Belton Leasing and Factoring, a subsidiary of Belton Holding, has officially announced its membership in FCI, a leading global entity representing factoring services and financing for international trade stemming from accounts receivable related to open account transactions, Invest-Gate reports.
FCI provides an integrated international network that fosters collaboration and partnerships, accounting for approximately 60% of the global factoring volume. The organization also emphasizes sector growth through advanced training programs and the promotion of best practices and international standards.
Belton’s membership in FCI is part of its strategy to enhance its position in both local and regional markets, taking advantage of the opportunities provided by this affiliation. This membership will enable the company to leverage the advanced technological platforms offered by FCI, such as “EDIFACTORING 2.0” and “FCIreverse,” further augmenting its role in supporting global trade and international supply chains.
In this context, Amir Ghannam, Vice President of Non-Banking Financial Services for leasing, factoring, and consumer finance at Belton Holding, stated, “Joining FCI presents us with the opportunity to collaborate with over 400 financial institutions across 90 countries worldwide. This partnership will undoubtedly bolster our international expansion, allowing us to benefit from the global expertise and extensive networks that FCI offers. Furthermore, the statistics and studies published by the organization will provide us with deeper insights into market trends and sector challenges, supporting our strategic plans for regional expansion and enabling us to offer the best financing solutions to our clients.”
Niall Harn, Secretary-General of FCI, remarked, “We are pleased to welcome Belton Leasing and Factoring into our global network. Their membership marks an important step towards enhancing cooperation both within the region and beyond. As one of the leading companies in the Egyptian market, Belton will undoubtedly benefit from FCI’s extensive global network and expertise to drive innovation and growth within the factoring sector, contributing to the development of international trade and establishing new standards for the industry.”
It is worth noting that Belton Leasing and Factoring received its factoring license from the Financial Regulatory Authority in September 2023 and recently increased its paid-in capital to one billion Egyptian pounds. Since the start of operations until November 2024, the volume of factored receivables has reached approximately 5.8 billion Egyptian pounds.