Egyptian Financial Regulatory Authority Approves Six Fintech Companies
The Egyptian Financial Regulatory Authority has approved six companies to conduct non-banking financial activities using financial technology, including Wealthy, Paymob, Fawry, and Souhoola.
Egypt's Financial Regulatory Authority has approved six companies to engage in non-banking financial activities using financial technology, according to The Paypers.
The approvals included "Wealthy Finance Holding" for custody services, "Wealthy Securities Brokerage," as well as "Paymob Finance" and "MIDBANK Digital Finance" for small and medium-sized enterprise financing.
The authority also approved "Fawry" as a registered outsourced provider for financial technology services, and "Souhoola" for consumer financing via the "V Lens" platform, according to the source.
The Paypers noted that Souhoola's application preceded a decision issued in 2026 suspending new licenses for fintech consumer financing for a year, making the approval an exception based on the submission timing of the application.
What do these terms mean?
Financial Technology: The use of software and digital services to provide or improve financial services, such as payments, financing, and trading.
Non-Banking Financial Activities: Financial services provided by non-bank entities, such as consumer financing, leasing, and trading.
Custodian: An entity that holds securities for its clients and manages them on their behalf in accordance with regulatory controls.
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