The fund was created in partnership with Prime Investments-Asset Management as a savings fund targeting individuals who do not have a bank account as well as corporations. The fund offers a daily return on investment (ROI).
Speaking to Ahram Online, Aman Financial Services CEO Hazem Moghazy said the fund mainly plans to invest in treasury bills (T-bills), which are considered the least risky investments.
He added that the fund, which will launch a fundraising campaign in a few days, allows customers to deposit or withdraw money around the clock.
“We plan to cover the entire capital of the fund a few days after the launch of the subscription campaign. Once this capital is reached, the benefits for customers on their deposits could reach more than 8%, which is the highest interest rate in the local market,” Moghazy told Ahram Online.
He added that the fund is expected to reach EGP 100 million in investments in its first year, with the general trend of individuals saving money amid the current global economic challenges and high inflation.
Legally, Aman is one of the very first companies to obtain the license from the Financial Regulation Authority (FRA) to establish such a daily investment fund.
“By observing the average of individuals integrated into the banking sector, we noticed that they form barely 56%. This translates into individuals acquiring or benefiting from bank accounts, e-wallets and payment cards. This figure confirms that there is a huge gap in the ease of saving financial products, which has motivated us to offer ours in the same way as we previously introduced consumer, micro and SME financing” , Moghazy said at the fund’s launch event that took place. place on Wednesday.
For his part, the CEO of Aman, Ahmed Al-Khatib, said that the fund facilitates the savings process as it only requires the national ID to save or invest in the fund and receive a return on a daily basis. non-taxable competitive investment, which follows a safe investment. capital protection policy.
Moreover, the service is built around the needs of customers, in which they deposit or withdraw through Aman’s extensive branch network which extends to 350 stores and more than 150,000 outlets throughout Egypt.