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Financial Authority approves 4 firms for fintech activities
The General Authority for Financial Supervision has issued approvals to four companies to use financial technology in engaging in non-banking financial activities, aiming to support digital transformation and expand the base of beneficiaries of financial services. These approvals included a license for "Eashel Finance" to operate in microfinance, as well as for "Manzel for Consumer and Real Estate Financing." Additionally, "Mansam Holding" was granted permission to carry out investment fund activities via financial technology, and a digital platform was established for private equity and venture capital funds for "Azimut Investments – Egypt." These decisions focus on developing non-banking financial services and promoting financial inclusion, while maintaining regulatory policies to protect investors and ensure market stability.
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