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Summary: Mumbai (Maharashtra) [India], Aug 16 (ANI): Liquidity risk is increasing for Indian real estate developers as non-bank financial institutions (NBFIs) including housing finance companies are shying away from lending to the sector, Fitch Ratings said on Friday.
"Halfway into the year, EFG Hermes continues to report solid results with our NBFI platform recording stellar growth and increasing its contribution to our top-line to 31% for the quarter up from 20% a year ago," said EFG Hermes Holding's Group CEO Karim Awad.
He thanked NBFI members who joined the risky search for the missing plane and student pilot in the jungles of Sierra Madre.
Ahmad, Chairman, NBFI and Modaraba Association while welcoming the chief guest and others, said that the core business of NBFI and Modaraba sector is SMEs, which is a backbone of Pakistan economy as this sector plays a significant role for economic development in the country.
We have repeatedly raised our voice at different forums to include the NBFI and Modaraba Sector in all the concessional schemes introduced by State Bank of Pakistan for SMEs so that the sector may play its due role in the growth of the SME sector.
NBFI and Modaraba Association is a representative body of all Modarabas, Leasing Companies and a few Investment Finance Services operating in Pakistan.
He added: "Our aim is to consolidate Nayifat's place as Saudi Arabia's premier NBFI, with key pillars of our expansion being consumer finance and our expansion in SME financing and credit card products."
Meanwhile, two listed banks and a non-bank financial institution (NBFI) declared dividend last week.
EFG Hermes launched the NBFI Platform, EFG Hermes Finance, which will overlook activities in the non-banking finance field through EFG Hermes Leasing, Tanmeyah Microfinance, valU and EFG Hermes Factoring.
Key leverage metrics under both the non-bank financial institutions (NBFI; gross debt/EBITDA at around 7.3x) and corporate criteria (8.1x FFO leverage) are not commensurate with the Long-Term IDR.
ISLAMABAD -- More than 500 professionals from the securities and commodities market, insurance sector, non-banking financial institutions (NBFI) and the Securities and Exchange Commission of Pakistan (SECP) attended 20 awareness sessions on anti-money laundering/counter financing for terrorism (AML/CFT).