Tamweely Financial Services Receives Approval to Offer Islamic Finance and Launches Shariah-Compliant Solutions
Tamweely Financial Services has officially received approval from the Financial Regulatory Authority (FRA) to offer Islamic finance products, marking a strategic milestone in the company’s growth journey. The move reflects Tamweely’s commitment to expanding its portfolio of financial solutions and serving a broader customer base through Shariah-compliant financing, while supporting financial inclusion and economic development in Egypt.
Ahmed Khorched, Chief Executive Officer, Managing Director and Vice Chairman of Tamweely Financial Services, said: “Receiving the FRA’s approval to offer Islamic finance products represents an important milestone for Tamweely. It underscores our ongoing commitment to developing innovative financing solutions that provide our customers with greater choice and flexibility, tailored to their diverse needs and aspirations. This step also reflects our vision of delivering a comprehensive range of financial services that contribute to economic growth and improve access to finance for entrepreneurs.”
Khorched added that the company has launched its Islamic finance products in full compliance with Shariah principles and the FRA’s regulatory requirements, noting that the launch comes in response to the growing demand for Islamic financial solutions in the Egyptian market.
He further explained that the new products are designed to support micro, small and medium-sized enterprises (MSMEs) by providing Shariah-compliant financing solutions that enable businesses to expand, enhance their competitiveness and achieve long-term financial sustainability. The approval also enables Tamweely to meet the needs of a growing segment of customers seeking financing solutions aligned with Islamic principles.
Mohamed Mamdouh, Chief Business Officer – Microfinance, said: “Adding Islamic finance products to our portfolio strengthens our ability to meet the diverse financing needs of our customers and support the growth of their businesses through transparent and flexible financing solutions. This initiative also reinforces Tamweely’s commitment to advancing financial inclusion and promoting sustainable development across our nationwide branch network.”
Sameh Koraiem, Chief Business Officer – SMEs, commented: “Obtaining the Islamic finance license represents an important strategic addition to our business, enhancing our ability to support small and medium-sized enterprises with Shariah-compliant financing solutions. The launch responds to increasing market demand while providing customers with broader financing options to support their expansion plans and business growth.”
Hassan Abdel Latif, Chief Corporate Oversight Officer, said: “The development of our Islamic finance products has been carried out in accordance with the highest standards of governance and regulatory compliance. We have updated our policies and operational procedures to ensure full adherence to both regulatory requirements and Shariah principles, while maintaining robust internal controls that reinforce operational excellence and customer confidence.”
Tamweely’s entry into the Islamic finance sector comes at a time of sustained growth for the industry both globally and locally. Global Islamic finance assets have exceeded US$4 trillion and are expected to continue expanding over the coming years, driven by rising demand for Shariah-compliant financial products across international markets.
In Egypt, Islamic finance has continued to record strong growth. As of the end of March 2026, Islamic financing volumes reached approximately EGP 1.067 trillion, representing around 5.7% of the Egyptian banking sector, supported by increasing financial awareness and growing demand for Shariah-compliant financing solutions.
Khorched concluded: “Tamweely will continue expanding its financing products and geographic footprint to strengthen its position as a trusted financial partner, delivering innovative and sustainable financing solutions that address evolving market needs while supporting Egypt’s financial inclusion and economic development agenda.”