New facilities to beneficiaries of vehicle replacement initiative: Finance Minister

New steps aim to reduce time required for issuing final approval for new vehicle financing

Egypt's Minister of Finance Mohamed Maait has confirmed that several new facilities have been approved for beneficiaries of the presidential initiative to replace vehicles with ones using a dual fuel system.
The move implements presidential directives to expand the base of beneficiaries under the initiative to replace obsolete vehicles with those that work with natural gas.
In a statement issued by the Ministry of Finance, on Tuesday, Maait said that the credit inquiry procedures carried out by banks have been facilitated.
This is aimed at helping reduce the time required for issuing the final approval for financing the vehicle, and reducing the number of refusals for not inferring the place of residence or workplace.
Spaces have been allocated on the initiative's website to record additional data, including the place of work, current residence, net income, and the customer's landline phone number.
Amgad Mounir, Chairperson of the Vehicle Replacement Fund at the Ministry of Finance, said that some new amendments have been made to the website. This includes consideration of some data relating to the old car as optional, including the car model.
The move aims to overcome the problems that some citizens were facing due to the fact that their old car models were not registered on the car licence.
Mounir pointed out that the new amendments allow citizens to retrieve the "replacement request" number through the website by entering some basic data, including the national number and the phone number registered on the site.
He also said that the website's home page has been enriched with additional information to form a complete idea of the initiative's details. He stressed that the participants in the presidential initiative can now access the website at any time to view the status of their requests.
Mounir added that the new amendments contribute to facilitating coordination and electronic communication between the Ministry of Finance and all parties involved in providing the initiative's services.
He explained that these new amendments on the website come as part of the dynamism that has characterised this initiative since its launch. It also reflects the keenness of those in charge of the initiative to closely follow up the complaints of citizens dealing with the website and respond to their requests.