Egypt’s Financial Regulatory Authority (FRA) has approved six companies to conduct a range of non-banking financial activities using financial technology. The committee that reviews applications to use fintech issued the decisions, which cover securities custody and trading, financing for small and medium-sized enterprises (SMEs), outsourced technology services, and consumer finance. The regulator said the approvals form part of its ongoing efforts to expand access to non-banking financial services, support digital transformation, and promote technological solutions across the sector.
Approvals cover custody, trading, and SME financing
In the capital markets segment, Wilzy Financial Holding has received approval to conduct securities custody activities using fintech. Wilzy Securities Trading has also been authorised to conduct its activities and use the mechanisms approved for it through fintech. According to the FRA, these decisions are expected to encourage wider use of digital solutions in capital market-related services.
The regulator has also approved the establishment of two fintech startups focused on SME financing: Paymob Financing for Small and Medium Enterprises and MIDBANK Digital Financing for Small and Medium Enterprises. Separately, Fawry for Banking Technology and Electronic Payments has been added to the FRA’s register of fintech outsourcing service providers. The registration has a defined scope, as Fawry’s services will be restricted to its own subsidiaries and will not extend to other companies engaged in non-banking financial activities.
Consumer finance approval follows 2026 licensing freeze
The FRA has further authorised Souhoola, the consumer finance arm of Banque Misr, to conduct its activities using fintech through V-Lens. Souhoola submitted its licensing application before the regulator issued Resolution No. 43 of 2026 in February 2026. That resolution suspended, for one year, the acceptance of applications to incorporate and license companies that conduct consumer finance activities using fintech, which means the Souhoola approval relates to a request filed before the freeze took effect.
The decisions fall within the FRA’s constitutional and legal mandate to regulate and supervise non-banking financial markets and instruments. Its remit covers capital markets, futures exchanges, insurance, real estate finance, financial leasing, factoring, and securitisation, as well as licensing companies in these markets, whether they operate through traditional methods or fintech. Together, the six approvals span custody, trading, SME lending, consumer finance, and technology outsourcing. They show the regulator extending fintech use across several segments of the market while setting limits on scope, as in Fawry’s case and in the temporary pause on new consumer finance applications.
