{"id":41679,"date":"2025-03-20T17:50:23","date_gmt":"2025-03-20T14:50:23","guid":{"rendered":"https:\/\/entarabi.com\/?p=41679"},"modified":"2025-03-20T17:50:23","modified_gmt":"2025-03-20T14:50:23","slug":"fawry-secures-islamic-financing-license-and-reports-strong-profit-growth-in-2024","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2025\/03\/fawry-secures-islamic-financing-license-and-reports-strong-profit-growth-in-2024\/","title":{"rendered":"Fawry Secures Islamic Financing License and Reports Strong Profit Growth in 2024"},"content":{"rendered":"<ul>\n<li dir=\"ltr\" style=\"text-align: left;\" data-start=\"25\" data-end=\"161\">Fawry&#8217;s subsidiary, Fawry Microfinance, has obtained an Islamic financing license from the Financial Regulatory Authority (FRA).<\/li>\n<li dir=\"ltr\" style=\"text-align: left;\" data-start=\"162\" data-end=\"287\">The license enables the company to offer Sharia-compliant financing solutions in response to growing demand in Egypt.<\/li>\n<li dir=\"ltr\" style=\"text-align: left;\" data-start=\"288\" data-end=\"430\">Fawry reported a net profit of EGP 1.74 billion in 2024, up from EGP 815.96 million in 2023, with revenues rising to EGP 5.51 billion.\n<div class=\"flex flex-1 grow basis-auto flex-col overflow-hidden\">\n<div class=\"relative h-full\">\n<div class=\"flex h-full flex-col overflow-y-auto [scrollbar-gutter:stable]\">\n<div class=\"mt-1.5 flex flex-col text-sm @thread-xl\/thread:pt-header-height md:pb-9\">\n<article class=\"group\/turn w-full text-token-text-primary focus-visible:outline-2 focus-visible:outline-offset-[-4px]\" dir=\"auto\" tabindex=\"-1\" data-testid=\"conversation-turn-468\" data-scroll-anchor=\"true\">\n<div class=\"text-base my-auto mx-auto py-[18px] px-6\">\n<div class=\"mx-auto flex flex-1 text-base gap-4 md:gap-5 lg:gap-6 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem]\">\n<div class=\"group\/conversation-turn relative flex w-full min-w-0 flex-col agent-turn @xs\/thread:px-0 @sm\/thread:px-1.5 @md\/thread:px-4\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex max-w-full flex-col flex-grow\">\n<div class=\"min-h-8 text-message relative flex w-full flex-col items-end gap-2 whitespace-normal break-words text-start [.text-message+&amp;]:mt-5\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"6dee08d7-0812-4ae2-a563-94242166c39f\" data-message-model-slug=\"gpt-4o\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<p data-start=\"524\" data-end=\"887\">Fawry for Banking Technology and Electronic Payments announced that its subsidiary, <strong data-start=\"608\" data-end=\"630\">Fawry Microfinance<\/strong>, has received an <strong data-start=\"648\" data-end=\"677\">Islamic financing license<\/strong> from the <strong data-start=\"687\" data-end=\"727\">Financial Regulatory Authority (FRA)<\/strong>. This license allows the company to offer <strong data-start=\"770\" data-end=\"810\">Sharia-compliant financing solutions<\/strong>, addressing the increasing demand for Islamic financial services in Egypt.<\/p>\n<p data-start=\"889\" data-end=\"1176\">According to the company&#8217;s disclosure to the stock exchange, this step will <strong data-start=\"965\" data-end=\"1026\">enhance Fawry&#8217;s expansion into the Islamic finance market<\/strong>, providing innovative financial solutions tailored to individuals and small and medium enterprises (SMEs) seeking Sharia-compliant funding options.<\/p>\n<h2 data-start=\"1178\" data-end=\"1224\"><span style=\"font-size: 14pt;\"><strong data-start=\"1182\" data-end=\"1222\">Strong Financial Performance in 2024<\/strong><\/span><\/h2>\n<p data-start=\"1226\" data-end=\"1371\">Fawry recorded <strong data-start=\"1241\" data-end=\"1285\">a net profit of EGP 1.74 billion in 2024<\/strong>, compared to <strong data-start=\"1299\" data-end=\"1329\">EGP 815.96 million in 2023<\/strong>, reflecting a strong growth trajectory.<\/p>\n<p data-start=\"1373\" data-end=\"1680\" data-is-last-node=\"\" data-is-only-node=\"\">The company&#8217;s <strong data-start=\"1387\" data-end=\"1426\">revenues surged to EGP 5.51 billion<\/strong> in 2024, up from <strong data-start=\"1444\" data-end=\"1464\">EGP 3.27 billion<\/strong> in the previous year. This significant increase highlights Fawry\u2019s <strong data-start=\"1532\" data-end=\"1605\">rapid expansion in the digital payments and financial services sector<\/strong>, capitalizing on the growing adoption of electronic transactions in Egypt.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"mb-2 flex gap-3 -ml-2\">\n<div class=\"flex items-center justify-start rounded-xl p-1\">\n<div><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"isolate w-full basis-auto has-[[data-has-thread-error]]:pt-2 has-[[data-has-thread-error]]:[box-shadow:var(--sharp-edge-bottom-shadow)] dark:border-white\/20 md:border-transparent md:pt-0 md:dark:border-transparent\">\n<div class=\"text-base mx-auto px-3 md:px-4 w-full md:px-5 lg:px-4 xl:px-5\"><\/div>\n<\/div>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Fawry&#8217;s subsidiary, Fawry Microfinance, has obtained an Islamic financing license from the Financial Regulatory Authority (FRA). The license enables the company to offer Sharia-compliant financing solutions in response to growing demand in Egypt. Fawry reported a net profit of EGP 1.74 billion in 2024, up from EGP 815.96 million in 2023, with revenues rising to [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":41680,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1810],"tags":[2378],"class_list":["post-41679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","tag-fawry"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/41679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=41679"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/41679\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/41680"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=41679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=41679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=41679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}