Egyptian digital bill-payment platform Sahl is preparing to launch in the Dubai International Financial Centre (DIFC), targeting Egyptians living in the UAE, according to an announcement.
The expansion is expected to let Egyptian expatriates pay utility bills, municipal fees and other financial obligations for their families in Egypt directly through the platform.
Sahl is operated by Delta Egypt Payments, a fintech company in which the state-backed National Investment Bank holds a stake. The planned DIFC launch follows an August cooperation protocol between Delta Egypt Payments and Egypt’s Ministry of Foreign Affairs, International Cooperation, and Egyptian Expatriates to develop digital bill-payment services for citizens abroad.
Separately, Egypt’s Financial Regulatory Authority approved investment fund platforms for Azimut Investments-Egypt and Menthum Holding for Financial Investments. Azimut will establish a digital platform for private equity and venture capital funds, while Menthum can receive subscriptions and process purchase and redemption orders for open-ended investment fund units.
The FRA also approved Ashal for Digital Finance to provide microfinance through fintech platforms and granted MNZL a final license for consumer and mortgage finance delivered through fintech.
Source: EnterpriseAM
