Egyptian fintech company MNZL has achieved a groundbreaking milestone by securing approval from the Financial Regulatory Authority FRA for two critical digital licenses: the nation's first fully digital mortgage license and a digital consumer finance license. This dual authorization positions MNZL as the first company in Egypt to hold both licenses, signaling a major advancement in the country's digital financial services sector.
The FRA's approval paves the way for fully digital, regulated asset-backed lending, allowing MNZL to offer financing secured by assets such as homes and vehicles through a modern, streamlined online process. By reducing paperwork and accelerating approvals, the company is modernizing Egypt's financial landscape while enhancing efficiency and consumer accessibility.
MNZL is strategically targeting a substantial yet largely untapped market, with Egyptian families holding over 1 trillion in private assets, mostly in real estate and vehicles. Historically, unlocking this equity has been slow and cumbersome, but MNZL's digital platform compresses the entire lending cycle-from application to approval-into just 48 hours, enabling families to access funds for home improvements, new purchases, or business ventures.
