MIDBANK secures FRA approval to establish digital finance company for SMEs

MIDBANK has received approval from the Financial Regulatory Authority (FRA) to establish MIDBANK Digital Finance for Small and Medium Enterprises, reflecting the bank’s strategy to expand its digital financial services and develop financing solutions tailored to the needs of small and medium-sized enterprises (SMEs).

The move comes amid rapid developments in Egypt’s financial sector and the increasing use of technology to improve financial services and make them more accessible. It also aligns with the FRA’s efforts to promote the use of financial technology in non-banking financial activities and broaden access to these services, helping advance financial inclusion and improve the efficiency of financing solutions. MIDBANK continues to develop its banking operations by upgrading its technological infrastructure and expanding its digital services for individuals and businesses, helping simplify banking procedures and improve the…