Arab Finance: In light of the increasing economic challenges, consumer financing has become one of the most prominent financial solutions that allow individuals to meet their needs without bearing a significant financial burden at once, and with the high cost of living and the increasing need for innovative financing solutions, the consumer funding sector played a fundamental role in facilitating the access of consumers to products and services They want, and with the acceleration of developments in the Egyptian market, the name Saeed Zaatar, President of the Egyptian Federation for Consumer Finance, is accelerated as one of the influential leaders who contributed to the growth of the consumer financing sector, and they established a basis that guarantees its sustainability and enhances its role in supporting the Egyptian economy, according to the statement sent on February 12.
Four years after the Egyptian Consumer Federation was founded in May 2021, Saeed Zaatar proved his worth in his capacity as CEO of Contect Financial Holding Group, in addition to being a founder and the first president Removing the obstacles facing consumer financing companies and contributed to establishing the federation to be the link between these companies and the General Authority for Financial Supervision, with the aim of setting the regulatory frameworks and rules to regulate the sector in a more effective and more effective way to stabilize and protect customer rights.
The consumer financing sector in Egypt also witnessed a remarkable development under the leadership of Saeed Zaatar to the Egyptian Federation for Consumer Finance, as the value of funds jumped from 17 billion pounds in 2021 to about 55 billion pounds in November 2024, at a growth rate of 224%, and the number of customers benefiting from 1.346 million increased from 1.346 million In 2021 to 3.759 million in November 2024, registered 179%growth, thus thyme contributed to strengthening the organizational framework for consumer rights to protect and ensure fair competition between companies provided for financing services, which helped to create a stable and supportive environment for the sector's growth.
Saeed Zaatar effectively contributed to enhancing the awareness of consumer financing companies, as he worked in cooperation with the members of the Federation’s Board of Directors and the Financial Supervisory Authority to activate the role of the federation by organizing dialogue sessions with restricted companies and service providers, to discuss market developments and challenges, through several mechanisms. The most prominent of which is to spread awareness through organizing 14 training courses and workshop that dealt with major topics such as risk management, anti -fraud, credit inquiries, anti -money laundering, and non -banking financial companies, in cooperation with the Financial Supervisory Authority.
Saeed Zaatar believes in the role of entrepreneurship in developing societies and supporting the economy, and seeks to enhance the role of the Union by participating in youth events and conferences, with the aim of helping young people in dealing with regular installments and payments, which enhances their skills in financial management and increases their ability to properly planning and financial commitment, which contributes In achieving the financial independence of youth.
Zaatar also succeeded in enhancing financial inclusion and providing various financing options that contributed to improving the purchasing power of individuals and stimulating local markets, in addition to its main role in supporting digital transformation, for his belief that Fintech is the key to the future of consumer financing. He worked to integrate digital solutions into the financing services provided, which contributed to accelerating procedures, improving the efficiency of operations and providing innovative services that better meet customer needs.
It is worth noting that the thyme strategy was clearly and tangible CNFN Financial Holding As the group's CEO, where the company made great progress in the consumer financing sector, and this was evident through the high number of contracts signed on consumer financing products from 29,149 thousand contracts in 2020 to 127,788 thousand contracts in 2024, registering an exceptional growth rate of 338% This growth reflects the company's commitment to expanding its services and enhancing its ability to meet the increasing customer needs in the Egyptian market.
Thanks to his extensive experience and strategic vision and steadfastly, Zaatar looks forward to the future with optimism, as his initiatives contributed to the transformation of the consumer financing sector in Egypt into a more advanced and organized sector, which prepares it to achieve sustainable growth in the coming years, and with the continued cooperation with the General Authority for Financial Supervisory in improving systems Sharia, promoting digital transformation, and providing microcredit products, the sector will continue to grow and become an essential element in promoting the Egyptian economy and achieving the financial inclusion of various groups of society.
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