Granite Financial Holding, a digitally-enabled asset management company, has officially received a fintech license from Egypt’s Financial Regulatory Authority (FRA). This landmark approval enables the immediate launch of its proprietary mobile application, Granite Money Market Account (Granite MMA), positioning the company at the forefront of financial institutions advancing full digital adoption in the country.
A New Era for Cash Management
The launch comes at a pivotal moment for Egypt’s financial landscape, with an estimated EGP 1.3 trillion in savings certificates beginning to mature. Granite aims to address a specific market need by targeting individuals and institutions holding substantial idle liquidity. Instead of competing for locked-in savings, Granite MMA is designed to keep cash fully accessible while generating high daily returns through a regulated money market framework with no lock-ins.
For corporate clients, Granite offers an advanced digital dashboard that provides real-time visibility into liquidity and cash flows. Paired with a tax-free return structure, the platform empowers companies to shift from passive cash holding to a more strategic and optimized approach to treasury management.
Hisham Akram, Founder and CEO of Granite Financial Holding, commented, “Securing this digital license marks a crucial step in executing our strategy. It reinforces our commitment not only to regulatory compliance but to contributing to the evolution of the financial ecosystem. With this foundation in place, we are positioned to advance our vision of modernizing financial asset management through technology-led, client-centric solutions.”
Digital-First and User-Centric
The Granite MMA platform sets a new standard by delivering a secure and seamless user experience. Through the mobile application, individual users can complete a fully digital account opening and e-KYC registration in minutes, eliminating the need for paperwork or branch visits.
The app provides 24/7 access to funds with daily compounded returns and no lock-in periods. Users can link their Granite MMA to any Egyptian bank account, ensuring smooth transfers to and from their account at any time.
Hussein El Sheikh, Co-Founder and Managing Director of Granite, added, “The FRA’s approval is a testament to the robustness of our digital infrastructure and the disciplined process that went into building Granite. If you have excess cash that you want to keep liquid and accessible, the Granite Digital Money Market Account is your best option. It’s safe, secure and easy-to-use.”
Built on Security and Compliance
The platform’s foundation is built on institutional-grade security and regulatory adherence, a key factor in securing the FRA’s approval. The company emphasized that its infrastructure was designed with security and compliance as core components, not afterthoughts.
“This approval validates how we built Granite from day one,” said Mahmoud Moursy, Co-Founder and Chief Technical Officer. “We focused on security, compliance, and performance at the infrastructure level, not as add-ons. We’re not building another fintech app; we’re building the next generation of regulated financial accounts.”
About Granite Financial Holding
Granite Financial Holding was established in Egypt in 2023 by a team with deep expertise in asset management, banking, and large-scale digital systems, under the leadership of Hisham Akram, Hussein El Sheikh, and Mahmoud Morsy. The company delivers innovative financial solutions fully supervised by the Financial Regulatory Authority (FRA), aiming to pioneer the CashTech sector. Granite seeks to redefine cash management by mobilizing idle balances for individuals and corporates, offering products that generate superior daily returns on liquid cash.
Source: Zawya
