Granite Financial Holding, a digitally enabled asset management company, announced that it has received the Fintech license from the Financial Regulatory Authority FRA, enabling the immediate launch of its proprietary Mobile Application, Granite Money Market Account Granite MMA. The launch follows the FRA's decision on Thursday, January 15, 2026, which authorized the company to utilize fintech for receiving fund subscriptions and executing purchase and redemption orders for open-ended investment funds. This approval positions Granite at the forefront of financial institutions advancing full digital adoption within Egypt.
The launch of Granite Money Market Account 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 aggressively to retain deposits amid shifting interest rate conditions.
Granite addresses a different need. Rather than competing for locked-in savings, Granite Money Market Account is designed for individuals and institutions holding substantial idle liquidity who seek to keep their cash fully accessible while generating the highest daily returns through a regulated money market framework without lock-ins.
