Egypt – Granite Financial Holding, a digitally enabled asset management company, has received a fintech licence from the Financial Regulatory Authority (FRA), paving the way for the immediate launch of its proprietary mobile application, the Granite Money Market Account (Granite MMA).
The launch follows an FRA decision issued on Thursday authorising Granite to use fintech solutions to receive fund subscriptions and execute purchase and redemption orders for open-ended investment funds. The approval positions Granite among the leading financial institutions driving full digital adoption in Egypt’s asset management sector.
The introduction of the Granite Money Market Account comes at a pivotal time for Egypt’s financial landscape. With an estimated EGP 1.3trn in savings certificates set to mature starting January 2026, liquidity management has become a key focus, as banks and financial institutions compete to retain deposits amid shifting interest rate conditions.
Granite targets a different segment. Rather than competing for locked-in savings, the Granite Money Market Account is designed for individuals and institutions holding significant idle liquidity who seek to keep their cash fully accessible while generating competitive daily returns within a regulated money market framework, without lock-in periods.
For corporate clients, Granite offers an advanced digital dashboard providing real-time visibility over liquidity positions and cash flows. Combined with a tax-free return structure, the platform enables companies to move beyond passive cash holding towards a more disciplined and optimised approach to treasury management.
Founder and CEO of Granite Financial Holding Hisham Akram said that securing the fintech licence marked a critical milestone in the company’s strategy.
“Securing this digital licence is a crucial step in executing our vision. It reinforces our commitment not only to regulatory compliance, but also to contributing to the evolution of Egypt’s financial ecosystem. With this foundation in place, we are well positioned to modernise asset management through technology-led, client-centric solutions,” he said.
The platform aims to set a new benchmark for digital financial services by delivering a secure, seamless and trusted user experience. Through the mobile application, individuals can complete fully digital account opening and electronic know-your-customer (e-KYC) procedures within minutes, without paperwork or branch visits.
Users have 24/7 access to their funds, benefit from daily compounded returns, and face no lock-in requirements. The Granite Money Market Account can also be linked to any Egyptian bank account, allowing smooth transfers in and out.
Co-Founder and Managing Director Hussein El Sheikh said the product was designed with practical, everyday usability in mind.
“If you have excess cash that you want to keep liquid and accessible, the Granite Digital Money Market Account offers a safe, secure and easy-to-use solution,” he said.
Meanwhile, Co-Founder and Chief Technical Officer Mahmoud Moursy said the company prioritised security and compliance from the outset.
“We focused on security, compliance and performance at the infrastructure level, not as add-ons. We are not building another fintech app; we are building the next generation of regulated financial accounts,” he said.
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