1- Egyptian Leasing Association (ELA):
-The Egyptian Leasing Association (ELA) (under establishment) is a not-for-profit, member-driven professional association that was established in 2011 primarily to promote the leasing business in Egypt.
As the chief promoter of leasing in Egypt, ELA has been engaged in various programs aimed at spreading the essence of leasing in the country. Consistent media campaigns involving special features in major newspapers and magazines have been embarked upon. Also, we have partnership arrangement with other development organizations. Similarly, the Association organizes on a regular basis specialized forums in major sectors of the economy, and a leasing conference yearly to increase the awareness of leasing in the Egyptian market.
Pursuit of a Favorable Environment
The attainment of a favorable environment for leasing is one of the main challenges facing the industry. ELA has been working relentlessly to evolve a vibrant, healthy and a better leasing industry that will be beneficial to all stakeholders. For instance, ELA is at vanguard of efforts towards the enactment of a more favorable leasing law for the industry.
ELA aims to aid leasing companies by providing training / education programs, which are primarily designed to build capacity in the industry in line with international best practices and standards. ELA provides multiple opportunities for the equipment leasing and finance community to network and learn via a variety of channels, including face-to-face conferences and workshops and web-based programs. Our goal is to help the ELA membership ensure the competency of key personnel in the leasing industry.
Research and Publications
ELA conducts regular research on activities of the leasing industry and other economic matters. The research findings and other relevant leasing information are published in the Association's publications for the benefit of members and the general public. Information on leasing developments in Egypt shall bealso documented on an annual basis in major local websites and international publications such as Euromoney World Leasing Yearbook.
ELA provides advisory services on various aspects of leasing including taxation, accounting, legal, marketing and asset management. It also provides support for intending lessors in setting up leasing companies and packaging of lease proposals for prospective lessees.
2- ELA CODE OF ETHICS
The Egyptian Leasing Association represents equipment and vehicle leasing and asset based finance companies in Egypt. There are fundamental standards of practice, which should serve as guiding principles for all engaged in the business of leasing financing. At all times ELA conduct its activities with integrity, dignity and professionalism and encourage such conduct by others in the leasing industry. In addition, it maintains respect for fair competition and discourage discrimination, dishonest or unethical actions.
The Association is a fully independent body, and shall not, with any means, be affiliated to any entity/ entities, especially, but not limited to, the association is fully independent from any leasing company or/ and any other leasing association. The association is fully incorporated under the Egyptian law no. 84 of 2002, and shall be subject to its regulations. The Association shall be managed by a board of directors that will be selected according to the articles of incorporation within the common understanding as agreed upon by the majority of the founders. The Association will have its separate legal personality subject to the Egyptian law. The association, its Board of Directors, Employees shall work independently from any influence to any leasing company or/ and any governmental entity.
The Association shall provide its services, and operate, and to be managed in a neutral basis, and shall follow the appropriate code of conduct within the professional neutrality limits. It is fully understandable and acknowledged between the founders that the selection of the board of directors or/and the employees will be according to the categories set forth in the articles of incorporation and within the limits of neutral code of conduct. Such selection shall not with any means, serves the interest of one or more of leasing companies. It is fully agreed that the employees and the board of directors will act in good faith, and they will be subject to loyalty obligation that prevents any conflict of interest. No Leasing company/ companies may influence or dominate the board of directors, or/ and employees of the Association.
The Association, its members, employees, and the board of directors shall not disclose or disseminate any information they may have known that may affect the business of any given leasing company.
3- Vision, Mission and Strategic Objectives
Our vision is to be the sole acknowledged and trusted representative body for the leasing industry in Egypt.
Our mission is to represent our members' interests to government, regulators, policy makers, the Egyptian institutions, the media and the general public so as to improve the working environment in which our members do business an. ELA is a member-driven professional association whose sole purpose is to develop and promote the highest levels of ethical and professional standards and to foster best practices within the leasing industry.
In line with this vision and mission, our strategic objectives specifically include the following: