Beltone Holding (“Beltone”), announced that its wholly owned subsidiary, Beltone Capital, has signed a joint-venture agreement with CRIF S.p.a. (“CRIF”) – a global company specializing in credit and business information systems, analytics, outsourcing and processing services, as well as advanced digital solutions for business development and open banking- to launch a new entity offering a holistic set of solutions in the Egyptian market, with potential to expand services into the MENA region.
Read also – ADB Approves Additional Support for Financing Infrastructure Development in Bangladesh
The newly launched company will commence operations upon receiving the final approval from the Financial Regulatory Authority (FRA), it will offer debt capital market instrument ratings, SME & corporate borrower ratings, NBFI portfolio ratings, ESG services, unsolicited ratings, and onboarding technology for lenders.
Read also – QIB Partners with PayLater to Introduce Shari’a-Compliant BNPL Solutions in Qatar
Carlo Gherardi, Chairman, at CRIF stated:
Partnering with Beltone aligns with our vision to generate value and create new opportunities by providing reliable ratings, business information services and cutting-edge solutions. This cooperation leverages our multi-decade experience in scoring and business information systems as we enter a rapidly-growing market with the perfect partners.
Dalia Khorshid, Group CEO and Managing Director of Beltone Holding stated:
This partnership reflects Beltone’s commitment to serving the market with innovative, data-backed solutions. Together, we will deliver unmatched services that combine CRIF’s credit rating track-record with Beltone’s on-ground knowledge and data-driven approach.
The newly established company will provide comprehensive services by the stipulations outlined in the Financial Regulatory Authority’s Decision No. 151 of 2023.
About Beltone Holding
Beltone Holding is a leading financial services provider with a multi-decade track record of success in the MENA region. The Company offers a comprehensive and growing set of financial solutions such as brokerage, investment banking, asset management, equity research, and private equity, in addition to end-to-end non-banking financial institutions (NBFIs) including leasing, factoring, consumer finance, venture capital, mortgage finance, microfinance and small to medium enterprises.
The Company is driven by a vision to redefine the financial ecosystem in the region by capitalizing on global expertise, knowledge, and disruptive, value-accretive solutions that unlock limitless opportunities for clients, to drive market value and impactful results.
About CRIF
CRIF is a global company specializing in credit bureau and business information systems, analytics, outsourcing and processing services, as well as advanced digital and open banking solutions. Founded in Bologna (Italy) in 1988, today CRIF has an international presence, covering 37 countries across 4 continents with over 6,400 professionals.
CRIF aims to create value for consumers, businesses and financial institutions by providing information and solutions that enable more powerful decision-making, improve access to credit and accelerate digital innovation. CRIF also offers fraud prevention and cybersecurity services to consumers and SMEs.
