- Moghazy: AMAN is keen to promote the concept of cashless economy through reliable and advanced financial services, to better reach the unbanked savings activities among them, aligning with the initiatives of the CBE and The FRA
- Al-Khatib: YOUM-B-YOUM service significantly improves the facilitation of the savings process, as one only needs the national ID card to start saving or invest in the fund to receive a daily competitive return on investment and non-taxable, which follows a safe investment. capital protection policy.
- Wahby: I strongly believe that AMAN’s investment fund will be favored by many clients for its exceptional accessibility in terms of registration and additional digital transactions through AMAN outlets.
- AlKady: Today, AMAN’s investment fund “YOUM-B-YOUM” joins our large list of investment funds that we monitor, as the company oversees a number of similar portfolios for government entities, private banks and insurance funds as one of the leading asset management companies in Egypt.
Cairo – AMAN for Microfinance, a subsidiary of AMAN Group, partners with Prime Investments-Asset Management to launch its first investment fund “AMAN YOUM-B-YOUM”, where savings accounts are made available of all social segments with a daily return on investment (ROI), and a few simple steps. Through this launch, the company is acting as a catalyst to accelerate the pace of achieving financial inclusion in line with Egypt’s strategic “Vision 2030”.
Legally, AMAN is one of the very first companies to obtain the license from the Financial Regulation Authority (FRA) to establish its daily investment fund for consumers and businesses, “AMAN YOUM-B-YOUM” to co -manage in collaboration with Prime Investments. In addition, the co-managed fund is expected to receive investments of over EGP 25 million during the initial phase up to EGP 100 million by the end of its first year.
Hazem Moghazy, CEO of AMAN Financial Services, said, “AMAN is constantly exploring the best financial solutions to reinforce the values of financial inclusion while ensuring the provision of its services to all Egyptians. By observing the average of individuals integrated into the banking sector, we see that they form barely 56%, represented among individuals acquiring or benefiting from bank accounts, electronic wallets and payment cards. This figure confirms the existence of a huge gap in the ease of saving financial products, which motivated us to offer ours in the same way as we had previously introduced consumer, micro-enterprise and SME. »
“AMAN is keen to promote the concept of cashless economy through reliable and advanced financial services, to better reach the unbanked savings activities among them; as well as to adapt to ever-changing market trends. From words to deeds, we launched our first investment fund ‘AMAN YOUM-B-YOUM’ with Prime to reflect these values, where we expect 20,000 clients in the first year. This forms an essential part of our strategy to diversify our non-banking services and shows our unwavering commitment to financial inclusion in addition to supporting the initiatives of the CBE and the FRA in this context. Moghazy added.
Similarly, Ahmed Al-Khatib, CEO of AMAN for Microfinance and Chairman of the Oversight Committee of AMAN Investment Fund “AMAN YOUM-B-YOUM”, introduced the details of the service saying, “The YOUM- B-YOUM significantly improves the facilitation of the savings process as all you need is the national identity card to start saving or investing in the fund to receive a competitive and tax-free return on investment daily, which follows a policy of safe investment protecting capital.In addition, the service is built around the needs of customers, where they can deposit or withdraw funds 24/7 through AMAN’s extensive branch network, extending through 350 stores and more than 150,000 outlets throughout Egypt.
Mohamed Wahby, CEO of AMAN e-payment, said, “Fintech is key to delivering secure financial services in the fastest and most accurate way that accelerates the pace of achieving financial inclusion. Therefore, I firmly believe that AMAN’s investment fund will be favored by many customers for its exceptional accessibility in terms of registration and additional digital transactions through AMAN’s outlets.
As for Prime Investments, Ghada AlKady, Managing Director of Prime Investments-Asset Management, explained: “Today, Prime welcomes AMAN’s investment fund ‘YOUM-B-YOUM’ as it joins our important list. of investment funds that we oversee, for the The firm oversees a number of similar portfolios for government entities, banks and private insurance funds. Moreover, Prime Investments is one of the leading asset management companies in the Egyptian market with an experience of more than 25 years since its establishment in 1995, along with the emergence of asset management activities in Egypt.
AMAN Group for Fintech solutions comprises three companies “AMAN Financial Services”, “AMAN Microfinance” and “AMAN E-Payments”. Moreover, the Group is among the pioneers in Egypt to adopt the state’s vision to strengthen digital transformation and financial inclusion. AMAN Group also provided an all-inclusive Egyptian model, utilizing the promising untapped opportunities in emerging areas of non-banking fintech. On the operations side, the Group provides more than 1,900 financial services daily to more than 2 million users with affordable prices and exceptional service enabling the unbanked to be financially independent. In addition, each of these companies, in a remarkably short period, has become a leader in its field at the head of the non-banking financial sectors while offering many innovative services and products.
About Prim Investments-Asset Management:
Since its founding in 1992 as a privatization consultant to the Egyptian government, Prime Group has successfully restructured itself into a regional investment bank with a strong presence in key Arab markets. Additionally, Prime offers innovative and distinctive financial solutions and services to businesses, organizations, governments and individuals through a variety of expertise that enables its clients to achieve their investment goals.