الهيئة العامة للرقابة المالية

• Approvals expand custodian, securities trading, and SME digital financing activities.

Financial Regulatory Authority (FRA), chaired by Dr. Islam Azzam, has granted approval to six companies to offer non-bank financial activities using financial technology (fintech). Issued by the Fintech Committee, these decisions align with FRA’s ongoing efforts to expand the beneficiary base of non-banking financial services, accelerate digital transformation and foster tech-driven solutions across the non-banking financial sector.

As part of these approvals, Welzy Financial Holding was authorized to offer custodian services using fintech solutions, while Welzy Securities Brokerage received approval to conduct its authorized activities and mechanisms through digital applications. Additionally, the Authority granted preliminary incorporation approvals for two new fintech startups: Paymob SME Finance and MIDBANK Digital SME Financing.

In addition, the Authority approved the registration of Fawry for Banking Technology and Electronic Payments as a fintech outsourcing service provider, with its services strictly limited to its own subsidiaries engaged in non-banking financial activities.

 Furthermore, BM Consumer Finance (Souhola) was authorized to operate through “VLens” digital platform, as its license request was submitted prior to FRA Decision No. (43) of 2026—issued last February—which placed a one-year freeze on new fintech consumer finance licenses.

Overall, these regulatory approvals significantly reinforce the integration of digital solutions into capital market operations and drive technology adoption across consumer finance and micro, small, and medium enterprise (MSME) finance.

These approvals are issued pursuant to FRA’s constitutional and statutory mandate to regulate and supervise non-banking financial markets and instruments. The Authority’s regulatory oversight covers capital markets, futures exchanges, insurance, real estate finance, leasing, factoring and securitization. In addition to licensing companies operating via traditional channels or cutting-edge FinTech tools.