Financial Authority approves 4 firms for tech-based non-banking activities
The General Authority for Financial Supervision has decided to grant approvals to four companies to engage in non-banking financial activities using financial technology, as part of its efforts to expand access to non-bank financial services and promote digital transformation. The license includes "Eshel Financial" for microfinance, "Manzel" for consumer and real estate financing, as well as "Menthum Holding," which will operate in the field of investment funds, and "Azimut Investments – Egypt," which will establish a digital platform for private equity and venture capital funds. These approvals aim to develop dedicated digital channels and enhance the use of technology in managing and servicing non-bank financial activities, supporting financial inclusion and increasing efficiency, while maintaining regulatory requirements.
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