An Egyptian fintech firm called MNZL just got a unique double approval from the country's financial regulators. They secured the first fully digital mortgage license and a digital consumer finance license. This lets them offer loans backed by things like houses or cars through a completely online process.
They're aiming at a huge pool of private wealth, with Egyptian families sitting on over a trillion dollars in assets like property and vehicles. The old way to borrow against these assets was slow and full of paperwork. MNZL's platform claims to cut that entire process down to two days. Company leaders say this digital method is faster, safer, and cheaper than traditional options. Their app is already live for download, positioning them to unlock liquidity for a massive number of asset owners.
They're aiming at a huge pool of private wealth, with Egyptian families sitting on over a trillion dollars in assets like property and vehicles. The old way to borrow against these assets was slow and full of paperwork. MNZL's platform claims to cut that entire process down to two days. Company leaders say this digital method is faster, safer, and cheaper than traditional options. Their app is already live for download, positioning them to unlock liquidity for a massive number of asset owners.
