Fawry to make its UAE debut this quarter: Egyptian e-payments company Fawry is planning to launch in the UAE during 1Q2020 alongside the Dubai Islamic Bank, Managing Director Mohamed Okasha said, according to Al Mal. The company held a trial run in the UAE with the bank last summer in preparation for its rollout of bill payment and banker's acceptance services.

The company also plans to expand into Saudi Arabia and Kuwait this year, with a bank transfer service for Egyptians living in GCC in cooperation with National Bank of Egypt, Bank of Alexandria, Banque du Caire, and ADIB. Fawry, which completed its IPO on the EGX last year, reported strong profit growth of 47.7% in the first nine months of 2019.

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