Cairo: GRANITE Financial Holding, a digitally-enabled asset management company, has received approval from the Financial Regulatory Authority (FRA) to launch its multi-currency fixed-income fund.
The company’s inaugural issuance is the ‘GRANITE EGP-Denominated Money Market Fund’, in partnership with Naeem Holding for Investments, according to a press release.
GRANITE focused on launching its fully digital Money Market Account (MMA) through a comprehensive digital platform, which contributes to maximizing the users’ returns on their liquid cash.
The platform also plans to apply for an FRA license to launch a USD Money Market Fund through its digital platform by year-end.
Hisham Akram, Founder and CEO of GRANITE Financial Holding, commented: “The license is a crucial step that underscores our commitment to operating under strict regulatory oversight and realizing our vision to redefine financial asset management in Egypt.”
“Our goal is to enable our clients to grow their wealth safely and contribute to the development of Egypt’s capital markets in close cooperation with regulators, reflecting our long-standing track record in this sector,” Akram highlighted.
Hussein El Sheikh, Co-Founder and Managing Director of GRANITE, said: “We are offering a simple, guaranteed solution that empowers corporations and individuals with effective, sustainable results by transforming their idle cash into a high-yield asset.”
“This reflects our commitment to achieving growth for all our clients and keeping pace with global innovations in financial services,” he added.
Meanwhile, the FRA is currently reviewing GRANITE’s application for a digital license, which will allow it to launch its digital Money Market Account.
This will be a significant addition to Egypt’s financial landscape, aligning with the country’s accelerated digital transformation process and rising demand for secure, trusted alternatives to conventional savings products.
By addressing a clear market gap, GRANITE aims to play a leading role as a strategic partner in capital market development and a catalyst for greater financial inclusion.
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