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Fawry aims for top Saudi payment license
Fawry, the Egyptian company, is aiming to expand into the Saudi market by applying for the highest tier of payment company licenses from the Saudi Central Bank. These licenses allow the provision of various financial services excluding lending. The company expects that obtaining these licenses will open significant growth opportunities, especially through transactions involving Egyptian residents and their families in Saudi Arabia, as well as supporting small and medium-sized enterprises. Fawry plans to transfer its digital solutions developed in Egypt to the Saudi market, relying on establishing new companies through partnerships rather than acquiring existing ones. This approach comes amid its financial results for the second quarter of 2026, which showed growth in profits and revenues, along with an expansion of its banking and financial services in Egypt.
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