GRANITE Financial Holding, a digitally enabled asset management company, has officially received approval from Egypt’s Financial Regulatory Authority (FRA) to launch its multi-currency fixed-income fund. The company’s first issuance will be the GRANITE EGP-Denominated Money Market Fund, a move poised to enhance cash management solutions for both individuals and corporates in the country.
A Digital-First Approach to Cash Management
In a strategic move into the cashtech sector, GRANITE is focusing on rolling out a fully digital Money Market Account (MMA) through an integrated platform. This initiative, developed in partnership with Naeem Holding for Investments, aims to provide users with a simple and efficient way to maximize returns on their liquid cash. The company is currently awaiting a separate digital license from the FRA, which will enable the official launch of its digital MMA platform. This aligns with Egypt’s broader digital transformation goals and meets the growing demand for reliable alternatives to traditional savings products.
Fund Strategy and Investor Benefits
The GRANITE EGP-Denominated Money Market Fund is designed to support the wider adoption of such financial instruments in Egypt. The fund will invest exclusively in low-risk Egyptian Treasury bills and government securities, which significantly reduces credit risk while aiming to provide returns that exceed conventional bank deposits. For corporate clients, the fund offers the key advantage of tax-free returns. Individual investors can benefit from higher daily yields and full liquidity, helping to preserve their purchasing power in the current economic climate.
Expansion and Future Plans
Following the launch of its inaugural EGP-denominated fund, GRANITE plans to further expand its offerings. The company intends to apply for an FRA license to introduce a USD Money Market Fund by the end of the year, signaling its ambition to cater to a broader range of investment needs within the Egyptian market.
About GRANITE Financial Holding
GRANITE Financial Holding is an asset management company focused on leveraging digital solutions to enhance cash management for individuals and corporates. The firm combines deep expertise in asset management and fixed-income instruments with innovative technology to create accessible and effective financial products.
Source: Zawya
