Granite Financial Holding, an asset management company, has received a fintech licence from the Financial Regulatory Authority (FRA), preparing to launch Granite MMA.
Fra’s decision was issued a few days ago, authorising Granite to utilise fintech solutions to receive fund subscriptions and make purchase and redemption orders for open-ended investment funds. This positions the company as a financial institution powering digitalisation in Egypt’s asset management sector.
Improving asset management solutions
Granite MMA (Money Market Account) was launched following a shift in Egypt’s financial ecosystem. With approximately USD 41.94 billion in savings certificates expected to mature starting January 2026, liquidity management has become significant as banks and FIs compete to retain deposits as interest rate conditions change.
Rather than competing for locked-in savings, Granite MMA is designed for people and institutions holding significant idle liquidity who are looking to keep their cash accessible while generating competitive daily returns in a regulated money market framework, with no lock-in periods.
For corporate clients, the company offers a modern digital dashboard that delivers real-time visibility over liquidity positions and cash flows. This, combined with a tax-free return structure, enables companies to move towards a more disciplined and efficient approach to treasury management.
Granite believes that securing the licence is a key step in executing its vision to contribute to the evolution of Egypt’s financial ecosystem compliantly. The company aims to modernise asset management through client-focused solutions, delivering a platform designed for secure and simple digital financial services. Through the app, individuals can complete an e-KYC procedure in minutes and open their account without the need for paperwork or branch visits.
Users have 24/7 access to their funds and daily compounded returns, as well as no lock-in requirements. The app can also be linked to any Egyptian bank account, allowing for easier transfers. The company will further focus on security, compliance, and performance as it caters to the needs of its clients.
