The Egypt Financial Regulatory Authority (FRA) issued approvals for three companies to undertake microinsurance, mortgage finance and consumer finance, including establishing the first specialised microinsurance company and granting initial fintech startup authorisations in mortgage and consumer finance. FRA’s board approved the establishment of Sawa as the first microinsurance company as part of implementing the Unified Insurance Law (Law No. 155 of 2024) and its executive decisions. In parallel, the FRA committee responsible for applications to use financial technology in non-banking financial activities approved the first licence for Manzel Fin to carry out mortgage finance as a startup, alongside its consumer finance activity, and approved the establishment of Lucky as a consumer finance startup. The authority framed the approvals as reflecting compliance with technological and regulatory requirements and as supporting broader access to non-banking financial services.
Egypt Financial Regulatory Authority 2025-12-16
Egypt Financial Regulatory Authority approves first microinsurance company and authorises fintech startups for mortgage and consumer finance
The Egypt Financial Regulatory Authority approved the establishment of Sawa as the first microinsurance company under the Unified Insurance Law. It also granted initial fintech startup authorizations to Manzel Fin for mortgage and consumer finance, and to Lucky as a consumer finance startup. These approvals aim to enhance compliance with technological and regulatory standards and expand access to non-banking financial services.