Egypt grants six companies different permissions for financial technology
Egypt’s financial regulator approved six companies for technology-enabled financial activities, ranging from new small-business financing ventures to custody and brokerage. The decisions give each business a defined scope. Souhoola’s application predates a suspension on new consumer-finance applications, while Fawry’s outsourcing registration covers services to its own subsidiaries only.
Economics & Markets··Night
New financing companies receive establishment approval
Egypt’s Financial Regulatory Authority, the regulator overseeing non-bank financial activities, cleared six companies for different uses of financial technology. Its committee examining these applications approved a mix of new company establishments, technology use within existing licensed businesses and registration for outsourced services. The permissions cover financing for small and medium-sized enterprises, securities brokerage, custody and consumer finance, with a separate scope for each company.[1], [2]
Paymob for SME Financing and Midbank for Digital SME Financing received approval to establish financial-technology startups serving small and medium-sized businesses. For these two ventures, the authorized step is establishment of a company in the financing category. The decisions contain no announced customer total or completed lending volume under the new permissions; they set out which businesses may be formed and for what activity.[1], [2]
Custody and brokerage approvals have defined scopes
Wilzy Financial Holding received permission to provide custody services through financial technology. Wilzy Securities Brokerage was authorized to use technology within its licensed activities and approved operating mechanisms. These decisions concern the services and procedures already attached to the companies’ respective authorizations. The regulator’s announcement therefore assigns different functions to the custody and brokerage businesses rather than giving all six companies an identical set of powers.[1]
Souhoola’s earlier application and Fawry’s subsidiary limit
BM Consumer Finance–Souhoola received permission to operate using financial technology through V-Lens. Its application preceded the regulator’s Decision No. 43 of 2026, issued in February. That decision suspended acceptance of new applications to establish and license technology-based consumer-finance businesses for one year. Souhoola’s approval thus concerns an application submitted before the suspension, within the chronology described by the regulator.[1], [2]
Fawry for Banking Technology and Electronic Payments was entered in the regulator’s registry of financial-technology outsourcing providers. The registration allows services to Fawry’s own subsidiaries only. It does not authorize services to other companies conducting non-bank financial activities. That limit defines the clients covered by Fawry’s registration, alongside the activity-specific establishment and operating permissions granted to the other five businesses.[1], [2]
