Egypt’s Financial Regulatory Authority (FRA) has officially approved Granite Financial Holding, a digitally-enabled asset management company, to launch a new US Dollar-denominated fixed-income fund. The new vehicle, named the “Granite Dollar Investment Fund,” is designed to provide innovative, dollar-based financing and liquidity management tools for investors and startups within the country’s burgeoning CashTech sector.
A New Dollar-Based Tool for Egypt’s CashTech Sector
The fund is being launched in partnership with Al Naeem Holding for Investments, with Granite serving as the investment manager. Its primary objective is to offer secure and competitive returns by investing exclusively in savings instruments and dollar-denominated tools.
This initiative directly addresses the growing demand in the Egyptian market for effective liquidity management solutions in foreign currency. The fund provides clients with daily subscription availability and weekly redemptions without penalties, enhancing the efficiency of cash management for companies and individuals who might otherwise keep their liquidity in low-yield vehicles.
Building on Digital Foundations
This approval comes just one month after Granite received an FRA license to launch its digital application, “Granite Money Market Account.” The app serves as a digital platform for liquidity management, offering daily returns under full regulatory supervision and leveraging e-KYC procedures for seamless onboarding. The new dollar-denominated fund is a strategic expansion of this digital-first approach, extending similar benefits to those seeking to manage assets in hard currency.
Hisham Akram, Founder and CEO of Granite Financial Investments Holding, commented, “The approval of the Financial Regulatory Authority represents an important step in Granite’s journey, as it enables us to expand our liquidity management solutions. We believe that the future of liquidity management depends on combining a strong regulatory framework and advanced technological infrastructure, and it affirms the strength of the regulatory framework in Egypt that supports the growth of the financial sector and provides a safe environment for investors.”
He added, “At Granite, we are working diligently with our partners at Al Naeem to promote the culture of using cash funds in Egypt as an effective tool for liquidity management and obtaining the highest returns through our smart financial solutions.”
Youssef El‑Far, Vice Chairman and Managing Director of Al Naeem Holding for Investments, stated, “The launch of the Granite USD Fixed Income Fund is a strategic step that reflects the strength of the partnership between Al Naeem and Granite, and is our direct response to the needs of investors seeking effective tools to manage liquidity in hard currency within the Egyptian market. This collaboration offers a solution that combines safety with competitive daily returns.”
About Granite Financial Holding
Granite Financial Holding was established in Egypt in 2023 by a team of professionals with deep expertise in asset management, banking, and digital systems, led by Hisham Akram, Hussein El Sheikh, and Mahmoud Morsy. The company delivers innovative financial solutions fully supervised by the Financial Regulatory Authority (FRA), aiming to pioneer the CashTech sector. Granite seeks to redefine cash management by mobilizing idle balances for individuals and corporates, offering products that generate superior daily returns on liquid cash.
Source: Zawya
