Granite Financial Holding has received a fintech licence from Egypt’s Financial Regulatory Authority (FRA), clearing the way for the launch of its proprietary mobile application, the Granite Money Market Account (Granite MMA).
The approval follows an FRA decision authorising Granite to use fintech solutions for receiving fund subscriptions and executing purchase and redemption orders for open-ended investment funds. The move places Granite among a small group of institutions leading full digital adoption in Egypt’s asset management sector.
The launch comes as Egypt’s financial system prepares for an estimated EGP 1.3 trillion in savings certificates maturing from January 2026, intensifying competition for liquidity. Rather than targeting locked-in savings, Granite’s product is designed for individuals and institutions holding idle cash who want to keep funds fully accessible while earning competitive daily returns in a regulated money market framework, without lock-in periods.
For corporate clients, the platform offers a digital dashboard providing real-time visibility over liquidity positions and cash flows. Combined with a tax-free return structure, it enables companies to move beyond passive cash holding toward a more structured approach to treasury management.
Founder and CEO Hisham Akram said the licence represents a critical milestone in Granite’s strategy and reinforces its commitment to regulatory compliance and the evolution of Egypt’s financial ecosystem.
Through the mobile app, users can open accounts digitally and complete electronic KYC within minutes, without paperwork or branch visits. Customers have 24/7 access to funds, benefit from daily compounded returns, and face no lock-in requirements. The account can be linked to any Egyptian bank, enabling seamless transfers.
Co-Founder and Managing Director Hussein El Sheikh said the product is designed for everyday usability, offering a secure and liquid solution for excess cash. Co-Founder and CTO Mahmoud Moursy added that security, compliance, and performance were built into the platform from the ground up, positioning it as a new generation of regulated financial accounts.
