True finance Leasing & Factoring takes legal action against those impersonating its name and files a complaint with «FRA» against Shahry For Consumer Finance

True finance Leasing & Factoring Co. announced that it has initiated legal action against entities that are unlawfully exploiting its name or trademark, stressing that it will not tolerate any reticence in protecting its legal and commercial rights.

In an official statement, the company stated that it has filed a complaint with the Financial Regulatory Authority against Shahry For Consumer Finance for using a name and trademark similar to “True Finance.”

The company uses the name “Tru Finance” without obtaining a license or prior permission, in violation of the applicable laws and regulations.

True finance explained that «Shahry» uses the name and trademark in its marketing and commercial activities in a manner that creates confusion among customers and misleads them about the service provider.

Moreover, True Finance filed an additional complaint with the General Authority for Investment and Free Zones, stating that this impersonation directly harmed its reputation and caused significant confusion in customer transactions across the market.

True finance also filed another complaint with the General Authority for Investment and Free Zones, stating that this impersonation directly harmed it and led to significant confusion in customer transactions in the market.

The company emphasized that it has no legal or commercial relationship or partnership with Shahry For Consumer Finance or its application, issued under the name TRU Finance, and affirmed that it completely disclaims any liability for any transactions conducted through this application.

The company has provided financing exceeded EGP one billion pounds as of June 30, achieving a 110% year-on-year growth in profits.

As part of its expansion, True finance Leasing & Factoring recently entered the factoring sector, targeting the education, energy, and industrial sectors. In a strategic move, it led a EGP 1.5 billion financing consortium for one of the largest real estate entities, serving as the financing manager and promoter.

Emirates NBD established Emirates NBD Leasing in 2008 as a subsidiary of the bank. In early 2022, Taj Holding for Financial Investments acquired the company and rebranded it as True Finance Leasing & Factoring.

Meanwhile, Mr. Mohamed Afifi chairs the board of directors, bringing extensive experience in both the banking and non-banking financial sectors.

Currently, the company operates from its headquarters in the South Business Park at Cairo Festival City, New Cairo.