Egypt's Financial Regulatory Authority approved six companies to conduct fintech based nonbank financial activities, expanding digital delivery across custody, securities trading, small and medium sized enterprise finance, consumer finance and outsourced technology services. Welzy Financial Holding may provide custody services using financial technology, while Welzy Securities Trading may use it for its authorized activities and mechanisms. The authority also approved the establishment of Paymob SME Finance and MIDBANK Digital SME Finance as fintech startups. Fawry for Banking Technology and Electronic Payments was added to the authority’s fintech outsourcing service provider register, but may serve only its subsidiaries. BM Consumer Finance, known as Souhoola, may conduct its activity through V.Lens because its application preceded the February 2026 decision suspending new applications for fintech based consumer finance companies and licenses for one year.
Egypt's Financial Regulatory Authority approves six companies for fintech based nonbank financial activities
Egypt's Financial Regulatory Authority approved six companies for fintech based activities spanning custody, securities trading, SME finance, consumer finance and outsourcing services. The approvals include two fintech startups, a restricted outsourcing registration for Fawry and permission for BM Consumer Finance to operate through V.Lens based on an application filed before the one year licensing suspension.