Granite gets fintech license from FRA; to launch Egypt’s first fully digital money market account

Arab Finance: The Financial Regulatory Authority (FRA) has granted a fintech license to Granite Financial Holding, a digitally-enabled asset management company, according to an emailed press release.

Receiving the license enables the company to immediately launch its proprietary mobile application, Granite Money Market Account (Granite MMA).

The FRA authorized the company to deploy fintech for receiving fund subscriptions and conducting purchase and redemption orders for open-ended investment funds.

Through this license, Granite will be at the forefront of financial institutions advancing full digital adoption within Egypt.

Setting a new benchmark for financial services, the digital platform offers a secure, seamless, and trusted user experience.

Individuals will use the mobile app to complete a fully digital account opening and e-KYC registration within minutes, with no paperwork or branch visits required.

Moreover, users will enjoy full-day access to their funds with daily compounded returns and no lock-ins.

The “Granite MMA” can be linked to any Egyptian bank account, enabling smooth transfers to and from the account.

For companies and institutions, the platform provides a more disciplined and optimized approach to treasury management and delivers real-time visibility into liquidity and cash flows.

Hisham Akram, Founder and CEO of Granite Financial Holding, commented: “Securing this digital license marks a crucial step in executing our strategy. It reinforces our commitment not only to regulatory compliance but to contributing to the evolution of the financial ecosystem.”

“With this foundation in place, we are positioned to advance our vision of modernizing financial asset management through technology-led, client-centric solutions,” he added.

The launch of Granite MMA comes at a pivotal moment for Egypt’s financial landscape.

As an estimated EGP 1.3 trillion in savings certificates starting to mature in January 2026, liquidity has become a central focus, with institutions competing to retain deposits amid shifting interest rate conditions.