Fawry for Banking and Payment Technology Services (FWRY) is forecast to join the FTSE and MSCI emerging markets indices in September 2021, according to a research by Arqaam Capital.

The company meets the liquidity requirements, which ensures inclusion in the FTSE EM All Cap Index’s next rebalancing on 21 September, with a weight of 0.0082%.

In January, Fawry’s board of directors approved to subscribe to the capital increase of Fawry Plus, as the company will be allowed to subscribe up to EGP 35 million.

During the first nine months of 2020, Fawry achieved a consolidated net profit before minority interest of EGP 119.2 million.

Fawry is an Egypt-based company that provides an electronic payment network. The company allows users to pay bills in multiple channels, such as online, using automated teller machines, mobile wallets, and retail points.