Fawry Applies for Top Saudi Payments License to Enter Gulf Market

Egypt’s Fawry has applied to the Saudi Central Bank for the highest category of payments-company license as it moves to enter the Saudi market. The Egyptian fintech, best known for digital payments and banking services, has been pursuing Gulf expansion for several years and previously said it was in talks with Saudi Payments, which operates under the central bank. The licensing step matters because Saudi Arabia is one of the region’s largest and fastest-growing payments markets, and approval would give Fawry a formal route to operate there.