180 million in a month.. Egyptians' bills for jewelry and eyeglasses
Egyptians spent about 180 million pounds on installments of jewelry, glasses, watches, bags, clothes, and shoes, within one month.
Shrouq
While many citizens suffer from high prices, we find that Egyptians' bills of jewelry and eyeglasses exceed 180 million in one month.
Recently, a report issued by the Financial Supervisory Authority for the month of September 2022 revealed that the Egyptians spent about 180 million pounds on installments of jewelry, glasses, watches, bags, clothes, and shoes, within one month.
2.59 billion pounds in September installments
The report also revealed the Financial Supervisory Authority, indicating that the total consumer financing activity recorded for the month of September 2022 “installments” amounted to 2.597 billion pounds, for a total number of beneficiaries of 228.6 thousand.
4.7% for “jewelry” eyeglasses and watches
It also turned out that 4.70% of the total value of consumer financing consisted of installments for jewelry, eyeglasses, watches, clothes, bags and shoes, which were paid in September 2022, indicating that the largest share of consumer financing went to the purchase of electrical appliances and electronics by installments of 35.57%, then purchase Cars and vehicles by 27.26%.
89.7% growth rate among beneficiaries
While the number of beneficiaries of the installment system witnessed a growth of 89.7% in September 2022 compared to September 2021, when the latter recorded 120.5 thousand beneficiaries, and the total value of financing witnessed a growth of 62.7% in September 2022 when it recorded 2.597 billion pounds, from 1.596 billion in September 2021.
It is noteworthy that the General Authority for Financial Supervision issued today the latest reports issued for the month of September 2022, indicating that the total values of financing granted through the entities subject to the authority’s supervision amounted to 104.4 billion pounds.
