Egyptian Financial Regulatory Authority Approves 6 Non-Banking Finance Companies
The Egyptian Financial Regulatory Authority has approved six companies to conduct non-banking financial activities, including units affiliated with Fawry, Paymob, and Souhoola, in a move supporting digital transformation.
Egypt's Financial Regulatory Authority has approved six companies to engage in non-banking financial activities, including entities linked to fintech platforms.
The approvals included "Welzy" Holding for Financial Services and Custody Services, "Welzy" Securities Brokerage, "Paymob" for SME Financing, "MIDBANK" for Digital Small Business Finance, and "Fawry" as a provider of fintech outsourcing services restricted to its subsidiaries.
The Authority also approved BM Consumer Finance "Souhoola" to practice consumer financing through the "V-Lens" platform.
The Authority stated that these approvals support digital transformation and expand access to non-banking financial services, while Souhoola's request preceded Decision No. 43 of 2026, which suspended fintech consumer finance applications for one year.
What do these terms mean?
Financial Regulation: An Egyptian government agency that licenses and monitors non-banking financial activities such as insurance, financing, and the capital market.
Non-Banking Finance: Financial services not provided by banks, such as consumer finance, financial leasing, and insurance.
Custody Services: Safekeeping of clients' securities with a licensed entity instead of holding them personally.
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