Latest news with #MounirNakhla
Business Recorder
5 days ago
- Business
- Business Recorder
Countrywide expansion: Halan receives licence from State Bank of Pakistan
KARACHI: Halan Microfinance Bank ('the Bank'), a Pakistani microfinance bank owned by MNT-Halan, Egypt and the MENA region's first fintech unicorn, has received a national license from the State Bank of Pakistan, allowing it to expand outside Sindh to the rest of the country. The national license permits the Bank to launch and manage financial services, including branchless banking, cards, mobile banking, retailer-based transactions, and wallet services. These services will complement the Bank's current product suite, which includes microfinance, salary advances, pensions, current accounts, and savings accounts. Commenting on this development, Mounir Nakhla, Founder and Chief Executive Officer of MNT-Halan, said that securing a national license is a major step in our journey to serve more people and businesses across Pakistan. This milestone would not have been possible without the continued support of the State Bank of Pakistan, he said. Copyright Business Recorder, 2025
Business Recorder
5 days ago
- Business
- Business Recorder
Countrywide expansion: Halan receives licence from SBP
KARACHI: Halan Microfinance Bank ('the Bank'), a Pakistani microfinance bank owned by MNT-Halan, Egypt and the MENA region's first fintech unicorn, has received a national license from the State Bank of Pakistan, allowing it to expand outside Sindh to the rest of the country. The national license permits the Bank to launch and manage financial services, including branchless banking, cards, mobile banking, retailer-based transactions, and wallet services. These services will complement the Bank's current product suite, which includes microfinance, salary advances, pensions, current accounts, and savings accounts. Commenting on this development, Mounir Nakhla, Founder and Chief Executive Officer of MNT-Halan, said that securing a national license is a major step in our journey to serve more people and businesses across Pakistan. This milestone would not have been possible without the continued support of the State Bank of Pakistan, he said. Copyright Business Recorder, 2025
Zawya
24-03-2025
- Business
- Zawya
MNT-Halan obtains FRA's nod for e-KYC and services in Egypt
Cairo – Mubasher: MNT-Halan has received approval from the Financial Regulatory Authority (FRA) to implement in Egypt electronic Know Your Customer, according to a press release. This step marks a leap forward in Egypt's fintech sector, delivering a seamless digital experience. Mounir Nakhla, Founder and 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 allows a fully digital onboarding experience, enabling users to open and activate their accounts in minutes and gain instant access to credit limits and investment opportunities. It also eliminates the need for paper signatures and in-person identity checks, making financial services more accessible and convenient. Source: Mubasher
Zawya
20-03-2025
- Business
- Zawya
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).
Zawya
27-02-2025
- Business
- Zawya
Tasaheel secures landmark EGP 7bln Sukuk issuance to expand access to finance for small business owners
Cairo, Egypt: Tasaheel, Egypt's largest and fastest-growing lender for small businesses and entrepreneurs; and part of MNT-Halan, has successfully completed Egypt's largest-ever Sukuk issuance in the non-bank financial institutions (NBFIs) sector. This pioneering EGP 7 billion Sukuk marks a major milestone, standing as the largest Social Sustainable issuance in Africa for a non-governmental entity. The Sukuk received an 'A' credit rating from the Middle East Credit Rating and Investor Services (MERIS), along with an 'Excellent' (SQS1) sustainability score from Moody's Rating Agency. This reflects Tasaheel's commitment to the Sustainable Sukuk Principles of the International Capital Market Association (ICMA). The issuance attracted strong investor demand, with a subscription coverage ratio of 1.2 times, underscoring its appeal and significance in the financial market. The funds raised from this historic Sukuk issuance will support Tasaheel's strategic growth plan, focusing on expanding access to financial solutions for underserved businesses and individuals; which will further enable Tasaheel to enhance its positive impact on Egypt's financial ecosystem. The Sukuk issuance has a 5-year maturity period and is structured as a Modaraba Sukuk. The issuance has been certified by the Central Shariah Committee at the FRA and the Sukuk Company Shariah Committee, ensuring full compliance with Islamic finance principles. Mounir Nakhla, Founder & CEO of MNT-Halan, commented ' Tasaheel is tapping into new funding channels and diversifying its base to further fuel loan book growth. By securing innovative tailored financing solutions, we're extending our reach to more businesses and continuing to make an impact in Egypt and beyond.' Islam Ayoub, Managing Director of Tasaheel, said"This Sukuk issuance is a major milestone not just for Tasaheel, but for the non-banking finance sector as a whole. By raising capital in this way, we are advancing our mission to promote financial inclusion and empower small business owners who are the backbone of the Egyptian economy. This transaction will enable Tasaheel to make a meaningful difference in the lives of many." This Sukuk issuance is a significant step for Egypt's business finance sector, further cementing Tasaheel's role in providing sustainable financial solutions, and advancing MNT-Halan's mission of driving financial inclusion across the country. Key regulatory supervision was provided by the Egyptian Financial Regulatory Authority (FRA). The transaction was supported by prominent financial and legal advisors, including CIB and CI Capital as financial advisors, Maatouk Bassiouny & Hennawy as legal advisors, and KPMG as transaction auditor. The Sukuk was issued by Alkan for Sukuk and underwritten by CIB, AAIB, El Baraka, and Banque du Caire, with additional participation from SAIB, ABC, FABMisr, Faisal Islamic Bank, and ADCB.
