Balad Becomes the First Egyptian Remittance Aggregator to Go Live in Egypt

[Cairo, February 9^th, 2025] – Balad, a leading fintech company specializing in cross-border payments, proudly announces that it is the first Egyptian remittance aggregator to go live in Egypt. This milestone marks a significant expansion of Balad’s capabilities, enabling seamless, efficient, and compliant money transfers for international remittance service providers and financial institutions looking to serve the Egyptian market.

Balad has received final approval from the Central Bank of Egypt for remittance aggregation, further solidifying its regulatory compliance and commitment to secure and transparent financial transactions. This approval ensures that Balad operates in accordance with the highest standards set by Egyptian financial authorities, providing an added layer of trust and security for its global partners. Furthermore, this regulatory milestone paves the way for onboarding additional remittance partners, including fintech players, ultimately driving cost efficiencies for both senders and receivers. By reducing transaction costs, Balad’s platform enhances affordability, which can ultimately increase the net remittance flows into Egypt.

Balad is enhancing the speed, accessibility, and reliability of remittance payouts in Egypt, offering international Money Transfer Operators (MTOs) and fintech aggregators a direct, API-driven connection to a robust payout network. This ensures that Egyptian beneficiaries receive their funds quickly and securely through multiple channels, including bank accounts, mobile wallets, and cash pickups at an extensive network of branches nationwide.

“Ensuring seamless, regulatory-compliant, and efficient remittance flows to Egypt is at the heart of our mission,” said Adham Azzam, Co-Founder & CEO of Balad. “Becoming the first Egyptian remittance aggregator to go live is a testament to our commitment to providing a best-in-class payout network for our global remittance partners. This step will facilitate faster and more cost-effective remittance transfers to millions of Egyptians.”

Egypt stands among the world’s top remittance-receiving nations worldwide and the largest in Africa, with annual inflows surpassing $30 billion. The launch of Balad’s platform is a significant step toward enhancing financial inclusion, empowering the Egyptian diaspora with more seamless and cost-effective options through our trusted Sending Partners. This initiative ensures that Egyptians abroad can securely and efficiently send funds to their families and loved ones back home, reinforcing economic stability and access to financial services.

Balad’s innovative B2B platform streamlines cross-border remittance flows through robust API integrations, regulatory expertise, and a deep understanding of Egypt’s financial landscape. By working closely with its partners, Balad continues to expand its reach and enhance the efficiency of global-to-local money transfers.

About Balad Balad is a fintech company focused on revolutionizing remittance payments and financial services for the Egyptian diaspora. Through strategic banking partnerships and cutting-edge technology, Balad provides global remittance partners with a seamless, secure, and regulatory-compliant network to facilitate money transfers to Egypt.