MNT-Halan receives FRA approval to implement e-KYC and digital contracts in Egypt
Cairo, Egypt - MNT-Halan, the region's leading fintech company, has received approval from the Financial Regulatory Authority (FRA) to implement in Egypt electronic Know Your Customer This marks a significant leap forward in Egypt's fintech sector, delivering a seamless digital experience. By eliminating friction and traditional paperwork, e-KYC enables a fully digital onboarding experience, allowing users to open and activate their accounts in minutes and gain instant access to credit limits and investment opportunities anytime, anywhere.
Mounir Nakhla, Founder & CEO of MNT-Halan, stated: "FRA's approval of e-KYC marks a major step forward in our journey to simplify finance. This will unlock access to finance for millions of people digitally and allow us to break barriers like never before."
The e-KYC removes the need for paper signatures and in-person identity checks, making financial services more accessible and convenient. This initiative underscores MNT-Halan's commitment to leveraging cutting-edge technology to drive financial inclusion in Egypt, ensuring that more individuals can seamlessly access the financial services they need.
About MNT-Halan
MNT-Halan, Egypt's first unicorn, was founded in 2018 with a mission to improve lives by revolutionizing access to financial services through technology. MNT-Halan provides business and consumer loans, pre-paid cards, e-wallets, savings and e-commerce services through the Halan app and nationwide physical presence. Since inception, MNT-Halan has served more than 8 million customers globally through providing financial services for both businesses and individuals.
MNT-Halan holds micro, consumer, and nano finance licenses from the Egyptian Financial Regulatory Authority and the first independent electronic wallet license from the Central Bank of Egypt to disburse, collect, and transfer money digitally through mobile applications. The company has received many accolades, including being awarded Most Innovative Fintech Company in the Middle East and Africa by Global Finance Magazine, featuring on the Financial Times' list of Africa's Fastest Growing Companies for two consecutive years and on Forbes Middle East's 'The Middle East's Fintech 50'. The Egyptian subsidiary has also been granted Bronze 'Client Protection' Certificate holder by the MFR Global Rating Agency (under the Cerise + SPTF framework).
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Broadcast Pro
16 hours ago
- Broadcast Pro
E& sets 5G-advanced milestone with record-breaking 600Mbps uplink
For consumers, this advancement will transform digital lifestyles, enabling creators to upload 8K videos and stream immersive content to platforms like YouTube and TikTok in a matter of seconds. E& UAE, the flagship telecom arm of e&, has reportedly set a new world record for connectivity by achieving an Uplink (UL) speed of 600Mbps on a live 5G network, a landmark in the 5G-Advanced evolution. This significant achievement was made possible by aggregating FR1 bands at 2100MHz and C-band, paired with Uplink 3Tx (three transmit antennas) on a commercial Customer Premises Equipment (CPE) at a live 5G site, fully compliant with 3GPP Release 17 standards. This record-breaking uplink speed is a cornerstone of 5G-Advanced, empowering uplink-biased applications with unmatched performance. By mastering FR1 band aggregation and cutting-edge uplink technology, e& UAE has set a global standard for 5G excellence. Abdulrahman Al Humaidan, Vice President/Fixed Access Network, e& UAE, said: 'e& UAEs world-record 600Mbps uplink speed is a strategic move forward, stimulating the global tech landscape with a new era of hyper-fast, uplink-driven digital innovation. This isnt just a technological breakthrough, its a launchpad for businesses and individuals to reshape the digital world, cementing the UAE as a global tech leader.' The 600Mbps uplink speed unlocks a transformative wave of connectivity, fuelling uplink-intensive applications for businesses and individuals. Enterprises can enhance operations, with smart factories and logistics hubs uploading massive sensor data in real time to power AI-driven automation and predictive analytics. In addition, cloud-hosted collaboration is enhanced, supporting instant uploads for 3D modelling, augmented reality (AR), and virtual reality (VR) workflows, enabling cutting-edge innovation. Uplink-biased applications like live video analytics for smart cities and real-time drone surveillance will thrive, allowing instant data uploads for critical decision-making. For consumers, this breakthrough will redefine digital life, empowering content creators to upload 8K videos and immersive live streams to platforms like YouTube or TikTok in seconds. With this augmentation of uplink speeds, gamers will be able to enjoy lag-free cloud connectivity, while smart homes will operate with efficiency, uploading high-definition footage and IoT data instantly. Uplink-heavy applications like virtual event hosting and user-generated AR content creation will flourish, making every interaction faster, richer, and more engaging. Anchored in 3GPP Release 17, this world-record leverages advanced features like enhanced mobile broadband (eMBB) and ultra-reliable low-latency communications (URLLC) to deliver next-level connectivity. By setting the global benchmark for FR1 uplink speeds, e& UAE is accelerating the 5G-Advanced evolution, driving smarter, scalable, and energy-efficient networks. This deployment on a commercial CPE and live 5G site showcases e& UAEs ability to turn vision into reality. With optimised FR1 2100MHz and C-band with Uplink 3Tx, e& UAE has set a foundation for 5Gs future, driving a hyper-connected world of infinite possibilities.
Zawya
17 hours ago
- Zawya
Egypt: FRA approves 11 institutions to register for secondary market activity
Egypt - The Financial Regulatory Authority (FRA) has approved 11 institutions to regularize their status and register in its official register for dealing in government securities and financial instruments in the secondary market, as per a statement. The approved list spans 10 banks and one brokerage firm: the Agricultural Bank of Egypt, Faisal Islamic Bank of Egypt, Suez Canal Bank, Banque du Caire, Crédit Agricole Egypt, Citibank Egypt, Attijariwafa Bank, Arab Bank Egypt, MIDBANK, Al Baraka Bank–Egypt, and Al Ahly Pharos Securities Brokerage Company. This move is in line with the FRA board of directors' resolution No. 232 of 2024, which governs registration for participation in the secondary market for government securities and financial instruments, and the FRA Chairman's resolution No. 394 of 2025, which extended the deadline for entities to regularize their status. The register includes entities eligible to deal in the secondary market, such as non-primary dealer banks, licensed brokerage firms, and companies managing investment funds or securities portfolios. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Web Release
a day ago
- Web Release
EBRD supports Egypt with first private-to-private electricity contracts
Energy market reform is taking a major step forward in Egypt as the government approves the first bilateral power purchase agreements between private generators and consumers. As part of a pilot of the private-to-private (P2P) rules, developed with technical support from the EBRD to the Egyptian Electric Utility and Consumer Protection Regulatory Agency (Egypt ERA) and approved last year, four renewable energy projects with a combined capacity of 400 MW have been approved to contract directly with end-consumers of electricity. The four approved projects are: KarmSolar, which will develop a 100 MW solar plant to supply electricity to Suez Steel. AMEA Power, which is building a solar facility of the same size to serve BEFAR Group and the Suez Canal Container Terminal. TAQA PV, which will install 100 MW of hybrid capacity (solar and wind) to power operations at Ezz Steel. Enara, developing a hybrid plant to deliver 100 MW to the El Alamein Silicone Products Company and Helwan Fertilizers. The P2P rules set out the conditions under which generators can use the power grid to sell electricity directly to consumers, a major departure from the existing single-buyer model and a significant step forward in Egypt's efforts to liberalise its electricity market – a goal set out in the 2015 Electricity Law. This approach introduces competition into the electricity sector, expands consumer choice and promotes private investments in renewable energy. It also introduces a path for Egyptian businesses, especially those that are energy-intensive and focused on the export market, to sign agreements directly with renewable energy producers that are increasingly required to prove their low carbon product credentials, for example green hydrogen destined for the European market. Furthermore, given the electricity generation under these contracts will be entirely privately financed, the P2P scheme represents an important route for Egypt to scale up electricity production without the need for government contracts. Mark Davis, the EBRD's managing director for the southern and eastern Mediterranean region, said: 'This milestone shows how the right regulatory framework can unlock private investment and drive the energy transition. By enabling companies to procure green electricity directly from producers, Egypt is opening new opportunities for industry and enhancing its competitiveness. We are proud to have supported EgyptERA in designing this pioneering scheme and will continue working closely as projects move towards implementation.' Dr Mohamed Mousa Omran, the chairman of EgyptERA, said: 'This pilot marks an important step towards a more competitive electricity market in Egypt. By enabling direct agreements between producers and consumers, we are creating space for the private sector to play a greater role in meeting the growing demand for clean energy in Egypt. This is essential for accelerating the deployment of renewables at scale and achieving our long-term energy goals.' The EBRD's technical support is generously funded by the Swiss State Secretariat for Economic Affairs (SECO), a key partner for the Bank in many of its ongoing policy engagements that aim to decarbonise the energy sectors of its countries of operation. This work is being delivered under the EBRD's Renewable Energy Programme, which is currently supporting 16 countries in their development of market-based mechanisms to mobilise private investments. To date, activities under this programme have delivered over 8,500 MW of renewable energy capacity being awarded in 8 countries.
