Egypt's FRA Greenlights Granite's Dollar-Denominated Fixed-Income Fund

(MENAFN- Daily News Egypt) Granite Financial Holding has received approval from Egypt's Financial Regulatory Authority (FRA) to launch a new USD-denominated fixed-income fund, marking a significant milestone in its expansion within the CashTech sector.

The fund, established in partnership with Al Naeem Holding for Investments, positions Granite as the investment manager, ensuring professional oversight of dollar-denominated instruments and delivering added value to investors under a robust regulatory framework.

This approval comes just weeks after Granite secured its FRA license to conduct non-banking financial activities using financial technology and introduced the Granite Money Market Account, a digital platform for liquidity management. The new fund responds directly to rising demand for safe, high-yield investment tools compared to traditional instruments. Granite's Dollar Account offers competitive cumulative daily returns under full regulatory supervision, supported by e-KYC procedures, daily subscriptions, and weekly redemptions.

By investing exclusively in savings instruments and dollar-denominated assets, the fund provides clients with stable returns in hard currency. Its flexible subscription and redemption features enhance corporate cash management, enabling more efficient financial decisions than low-yield liquidity vehicles.

Hisham Akram, Founder and CEO of Granite Financial Holding, stated:“The FRA's approval represents a pivotal step in Granite's journey, enabling us to expand our liquidity management solutions. We believe the future of liquidity management lies in combining strong regulatory oversight with advanced technological infrastructure, affirming Egypt's commitment to a safe and growing financial sector.”

Akram added:“Together with our partners at Al Naeem, we aim to promote the culture of cash funds in Egypt as effective liquidity management tools, delivering superior returns through smart financial solutions. This contributes to raising financial awareness and broadening the investor base in the Egyptian market.”

Youssef El‐Far, Vice Chairperson and Managing Director of Al Naeem Holding for Investments, emphasized the strategic nature of the partnership:“The launch of the Granite USD Fixed-Income Fund reflects the strength of our collaboration with Granite and directly addresses investor demand for effective hard-currency liquidity tools. This initiative combines safety with competitive daily returns and reinforces our ability to introduce innovative dollar-denominated products to meet Egypt's growing appetite for fixed-income instruments.”

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