Arab Finance: The Financial Regulatory Authority (FRA) has granted six companies approvals covering technology-enabled non-banking financial activities, the establishment of financing startups, and the registration of an outsourcing service provider, as per a statement.

The decisions span securities brokerage, custody services, consumer finance, and financing for small and medium-sized enterprises (SMEs). They were issued through the FRA’s committee responsible for reviewing financial technology (fintech) applications.

Among the approvals, the regulator cleared the establishment of Paymob for SME Financing and Midbank for Digital SME Financing as fintech startups.

In capital markets, Wilzy Financial Holding received permission to provide custody services using fintech. Wilzy Securities Brokerage was authorized to use the technology in its licensed activities and approved operating mechanisms.

The FRA also authorized BM Consumer Finance – Souhoola to conduct business using fintech through V-Lens. Its application preceded FRA Decision No. 43 of 2026, issued in February, which suspended the acceptance of new applications to establish and license fintech-based consumer finance businesses for one year.

Separately, Fawry for Banking Technology and Electronic Payments was added to the FRA’s registry of fintech outsourcing service providers. The registration limits Fawry’s services to its own subsidiaries and does not permit it to serve other entities conducting non-banking financial activities.