Egypt’s Financial Regulatory Authority (FRA) has granted regulatory approvals to six companies to expand the use of financial technology across the country's non-banking financial sector.

The decisions, issued through the FRA's committee responsible for reviewing fintech applications, cover securities brokerage, custodial services, consumer lending, financing for small and medium-sized enterprises (SMEs) and outsourced financial technology services.

The approvals form part of the regulator's efforts to broaden access to financial products, encourage digital service delivery and support the development of Egypt's non-banking financial industry.

Paymob and MIDBANK Receive Approval for SME Financing Ventures

Among the latest decisions, the FRA has approved the establishment of Paymob for SME Financing and MIDBANK for Digital SME Financing as fintech startups.

The two ventures will focus on financing small and medium-sized businesses, a market where digital platforms could help simplify the application process and improve access to funding.

The authorisations create opportunities for technology-based financing providers to develop services targeting businesses that require alternatives to conventional bank lending.

The regulator expects greater use of digital financial services to support the development of micro, small and medium-sized enterprises while encouraging further investment in Egypt's fintech market.

Wilzy Companies Gain Approval for Digital Securities Services

In the capital markets sector, Wilzy Financial Holding has been authorised to undertake securities custody activities using financial technology.

The FRA has also approved Wilzy Securities Brokerage to conduct its licensed securities trading activities and use authorised operating mechanisms through fintech systems.

The decisions will allow the companies to incorporate digital processes into their existing financial services, supporting the wider adoption of technology across Egypt's capital markets.

By extending fintech authorisations to custody and brokerage activities, the regulator is seeking to modernise financial market operations while maintaining oversight of licensed providers.

Fawry Registered as Fintech Outsourcing Provider

The FRA has also added Fawry for Banking Technology and Electronic Payments to its register of authorised fintech outsourcing service providers.

Under the approval, Fawry may provide these services exclusively to its subsidiaries. The authorisation does not permit the company to extend the same outsourcing services to unrelated businesses operating in Egypt's non-banking financial sector.

The restriction establishes a defined scope for Fawry's activities under the regulatory framework.

The approval nevertheless represents another development in the company's involvement in Egypt's regulated financial technology market.

Souhoola Cleared to Use Digital Consumer Finance Services

The regulator has separately authorised BM Consumer Finance, operating under the Souhoola brand, to conduct its consumer financing activities through fintech solutions provided by V-Lens.

Souhoola's application was submitted before the FRA introduced Resolution No. 43 of 2026 in February, which temporarily suspended the acceptance of new applications for establishing and licensing fintech-based consumer finance businesses for one year.

The company was therefore able to proceed with its application despite the subsequent restriction on new submissions.

The approval will enable Souhoola to integrate digital technology into its authorised consumer finance operations within the regulator's existing supervisory framework.

Egypt Expands Digital Oversight of Non-Banking Finance

The latest approvals highlight the FRA's continuing efforts to bring more financial activities within a regulated technology-based operating environment.

Led by Chairman Islam Azzam, the authority oversees a broad range of non-banking financial markets, including securities, insurance, mortgage finance, financial leasing, factoring and securitisation.

Its responsibilities extend to approving the establishment and licensing of financial institutions and supervising their operations, whether services are delivered through conventional channels or digital platforms.

The regulator expects the wider adoption of fintech to improve the accessibility and efficiency of financial services while supporting Egypt's financial inclusion objectives.

For the country's fintech industry, the latest decisions create opportunities across business lending, securities services and financial infrastructure. They also demonstrate the importance of regulatory authorisation as financial technology companies expand into activities traditionally handled by established financial institutions.

The commercial impact of the approvals will depend on how effectively the authorised companies develop their services, attract customers and meet the operating requirements set by the FRA.