Egyptian fintech company MNZL has achieved a significant milestone by securing approval from the Financial Regulatory Authority (FRA) for two key digital licenses. The company was granted the nation's first fully digital mortgage license along with a digital consumer finance license. This dual authorization makes MNZL the first entity in Egypt to hold both, signaling a major advancement in the country's digital financial services landscape.
Pioneering Digital Asset-Backed Lending
The landmark approval from the FRA officially establishes a regulated and entirely digital pathway for asset-backed lending across Egypt. This framework empowers MNZL to offer financing secured against assets like homes and vehicles through a modern, streamlined online process. The dual licensing underscores a strategic move towards modernizing the national financial sector and embracing technological innovation to improve market efficiency.
Unlocking a Trillion-Dollar Market
MNZL is strategically positioned to address a substantial yet largely illiquid market within the Egyptian economy. The company estimates that Egyptian families hold over one trillion dollars in private assets, with a significant portion concentrated in real estate and vehicles. Historically, accessing the equity tied up in these assets has been a slow, complex, and paper-intensive process for consumers.
To overcome these traditional hurdles, MNZL has engineered a digital workflow designed to radically simplify and accelerate the lending experience. The company’s platform compresses the entire cycle, from initial application to final approval, into a secure 48-hour timeframe. This efficiency empowers users to unlock their equity for a variety of purposes, including home upgrades, new purchases, or funding business activities.
A Vision for Financial Transformation
Ibrahim Safwat, Co-Founder and Managing Director of MNZL, emphasized the company's pivotal role in the nation's digital transformation. He stated that the dual-license model introduces a well-governed, data-driven system that accelerates asset verification and strengthens consumer protection. This approach is expected to foster a more transparent and accessible market for asset-backed lending throughout the country.
Echoing this vision, Founder and CEO Sameh Saleh highlighted the direct benefits for Egyptian families. He explained that by making secured lending digital, fast, and accessible, MNZL offers a safer and more affordable alternative to traditional financing options. The company's core mission is to finally unlock the substantial wealth that families have already accumulated in their primary assets.
With its innovative dual-license model, MNZL is set to make a profound impact on Egypt's fintech and real estate finance sectors. The company's application, now publicly available on the App Store and Google Play, provides a modern solution to a long-standing financial challenge. This launch represents a critical step toward enhancing financial inclusion and providing greater liquidity for millions of asset owners nationwide.