Author: Ahmed Ibrahim
Al Ahly Momkn, Egypt’s leading electronic collection platform, announced new leadership changes within its organizational structure as part of a strategy aimed at strengthening growth and expanding in the digital payments and fintech services sector. The changes include the appointment of Ahmed Enayet as Chairman of the Board of Al Ahly Momkn, in addition to his role as CEO of Al Ahly Payments Holding Group. This step reflects the group’s direction toward enhancing integration across its various entities and supporting its expansion plans. Al Ahly Payments Holding Company—one of the subsidiaries of the National Bank of Egypt—operates a number of…
Fawry, Egypt’s leading fintech company, announced the signing of a strategic partnership with Valu, Egypt’s leading financial technology powerhouse. Under this partnership, Valu services will be introduced as a new flexible payment and financing option on myfawry application. This collaboration reflects Fawry’s commitment to implementing its strategy of enabling innovative and flexible purchasing methods, supporting the modern electronic payments ecosystem, and facilitating seamless, efficient access to digital services. The partnership between Fawry and Valu aims to enable myfawry app users to pay for any available service using flexible payment plans, thereby improving the customer experience and enhancing satisfaction with digital…
TRU announces its collaboration with Egyptian drift champion Karim Hany, marking a partnership built on shared values of flexibility, control, and precision. Karim Hany’s journey reflects ambition and leadership. As one of the pioneers of drifting in Egypt, he has played a key role in paving the way for the sport locally, progressing to become the first Egyptian to qualify for global drifting competitions, including competing in Drift Masters—placing Egypt firmly on the international drifting map. In parallel, TRU has built strong momentum. In a course of a year and couple of months, the company has established a solid footprint…
As part of the direction toward supporting promising sectors and strengthening the integration between the cultural and financial sectors, Suez Canal Bank and Art D’Égypte have signed a strategic partnership agreement. The partnership aims to build an innovative model that positions art as an investable economic asset, through providing specialized advisory services in art investment. The agreement was signed by Mr. Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, and Ms. Nadine Abdel Ghaffar, Founder of Art D’Égypte, in the presence of executives from both sides. The partnership is based on developing a specialized platform for art…
Visa (NYSE: V), a global leader in payments, today released its latest consumer spending insights for the Ramadan and Eid Al-Fitr period in Egypt, based on the Visa Consulting & Analytics Retail Spend Monitor. During this period, spending on Visa premium consumer cards increased around 50% year‑over‑year. This reflected higher spending across travel, everyday retail, and food‑related categories. Key seasonal spending trends include: Inbound Travel Spend During Ramadan Spending by international visitors using Visa premium consumer cards in Egypt increased 35%, with spending from the US, UK and France also up 35%. Outbound Travel Spend During Ramadan International travel spending…
IBAG, the leading international money transfer company, announced today the launch of its new brand identity under the name “Rimmit”, marking a strategic evolution in its journey to deliver advanced non-banking financial solutions in Egypt and around the world. This milestone marks the celebration of the company’s 30th anniversary, recognizing three decades of leadership in the remittance sector and reflects the company’s commitment to strengthening cross-border connectivity and simplifying money transfers between individuals and families worldwide. This transformation is driven by Rimmit’s vision to deliver a more seamless and integrated financial experience. As part of this shift, the company is…
In a groundbreaking move set to transform cross-border banking for Egyptians abroad, Mashreq has become the first UAE-based bank to offer a fully digital account opening service for non-resident Egyptian customers. This innovative solution allows Egyptian nationals residing in the UAE to instantly open a Mashreq Egypt Account remotely via the Mashreq UAE mobile app — with no paperwork or in-branch visits required. Eligible customers holding a NEO, Gold or Private account with Mashreq UAE can now open an account in Egyptian Pound (EGP), US Dollar (USD), or both – in just a few simple steps. Remittances continue to play…
Visa (NYSE: V) today announced the launch of Visa Intelligent Authorization, a new capability on the Visa Acceptance Platform that enables acquirers (banks and other financial institutions that process payments for merchants) to modernize their payment processing through a single API connection, helping eliminate the need for expensive, time consuming infrastructure maintenance or builds. Authorization is core to how digital payments work: acquirers send real-time authorization requests through card networks to consumer issuing banks, which approve or decline within seconds. However, many legacy authorization platforms were not designed for the uptime, intelligence, and regulatory flexibility required by modern commerce, leading…
Dreny & Partners advised Global Corp for Financial Services on the securitization transaction of its leasing portfolio amounting to EGP 2.475 billion, which comes as part of a wider three-year multi-issuance program with a total value of EGP 10 billion. The transaction included an anchor subscription by the International Finance Corporation (IFC), marking a first-of-its-kind step in the Middle East and North Africa. It was structured to support sustainable local-currency financing and to broaden access to capital markets, reinforcing institutional investor confidence in the Egyptian non-banking financial sector. The issuance was backed by a receivable’s portfolio originated by Global Leasing,…
Standard Bank Group, Africa’s largest financial institution by assets, is set to officially launch its Representative Office in Egypt, marking a significant milestone in its long-term commitment to advancing Africa’s economic integration and cross-border growth. The launch event will take place in Cairo on 12 November 2025. Standard Bank Group operates in 21 African countries, four global financial centres Dubai, New York, Beijing, and London and two offshore hubs in the Isle of Man and Jersey. Led by Group CEO Sim Tshabalala and headquartered in Johannesburg, South Africa, the Group is listed on both the Johannesburg Stock Exchange (JSE: SBK)…