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Arab Finance: Fawry for Banking Technology and Electronic Payment refuted reports linking the company to alleged embezzlement and money laundering activities involving $330 million at an HSBC branch in France, according to a disclosure.
Fawry denied any connection or affiliation, either directly or through its subsidiaries, to the circulated news, affirming that the entity implicated in the case operates outside Egypt and is neither a subsidiary nor an affiliated company.
Under the supervision and oversight of the Central Bank of Egypt (CBE), Fawry processes nearly 6 million financial transactions daily, serving thousands of institutions and millions of customers.
In the first quarter of 2026, Fawry logged EGP 749.338 million in consolidated profits attributable to the parent company, a 23.78% year-on-year (YoY) climb from EGP 605.378 million.
