فريق إنت عربي
- Egypt’s Financial Regulatory Authority Approves License for Granite Holding’s USD Fund to Support Startups
- The new fund, launched in collaboration with Al Naeem Holding, aims to provide dollar-denominated financing tools for companies operating in the fintech sector
The Financial Regulatory Authority”FRA” has approved Granite Financial Holding, a financial investment company, to launch a new dollar-denominated investment fund named “Granite Dollar Investment Fund.”
The fund aims to provide innovative financial tools to support investors and publicly listed startups operating in the CashTech sector.
Granite stated that the fund will be launched in partnership with Al Naeem Holding for Investments, while Granite will act as the investment manager of the fund.
Last month, the Financial Regulatory Authority also granted Granite approval to launch its digital application “Granite Daily Account,” a platform designed for liquidity management that offers daily investment returns under regulatory supervision in Egypt.
The dollar-denominated account targets cumulative daily returns while ensuring easy asset redemption.
Commenting on the approval, Hesham Akram, Founder and CEO of Granite Holding for Financial Investments, said the FRA’s authorization reflects Egypt’s direction toward strengthening the financial sector and providing safe financing tools for investors.
He added that Granite is working with Al Naeem Holding to promote the use of money market funds in Egypt as an effective tool for liquidity management, enabling investors to achieve higher returns through smart financial solutions while expanding financial awareness and increasing the investor base in the Egyptian market.
For his part, Youssef El-Farr, Vice Chairman and Managing Director of Al Naeem Holding, said the launch of the Granite USD Money Market Fund represents a strategic step reflecting the strength of the partnership between the two companies.
He noted that the initiative responds directly to investors seeking effective liquidity management tools in foreign currency within the Egyptian market, adding that the collaboration provides a solution combining security and competitive daily returns, while enhancing the companies’ ability to introduce innovative dollar-denominated products that meet growing demand for fixed-income investment instruments.
