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EFC Finance Presents "Balad" Expansion Plans
EF GQ Finance, the non-bank financial platform affiliated with EF GQ Holding Group, announced its plans to strengthen the growth of "Balad," the company specializing in developing infrastructure for remittances from Egyptians abroad. Since its establishment in 2022, Balad has developed an infrastructure platform that offers faster, safer, and regulation-compliant money transfer services, aiming to enhance the efficiency of financial remittances and foster stronger connections between Egyptians abroad and the local economy. By February 2025, Balad became Egypt’s first fully operational remittance aggregation platform, approved by the Central Bank through its partnership with Cairo Bank. EF GQ Finance intends to support Balad’s expansion and develop its partnership networks to enhance digital services and improve accessibility for Egyptians abroad, leveraging the expertise of seasoned investors and previous investment holders. Remittances from Egyptians abroad are a major source of foreign currency for Egypt, and the focus is on building an organized and efficient remittance system to ensure a steady flow of foreign currency and promote financial inclusion.
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