An informed source at the Financial Regulatory Authority denied social media speculations on Egypt’s government closing the branches of a large number of non-banking financial companies and institutions.
In a statement to the Middle East News Agency, the source explained that the decision circulating on social media dates back to October 2025, and only involved the cancellation of microfinance licenses for a number of Category C NGOs and institutions.
The source emphasized that the names mentioned on those anonymous social media accounts have no connection whatsoever to the previous decision.
He urged citizens to carefully verify information and consult the proper official channels before sharing information on social media.
Has Egypt’s government shut down loan apps? Egypt Independent.
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