Granite Financial gets FRA's nod to launch USD-denominated fixed-income fund

Updated 3/9/2026 1:24:00 PM

Arab Finance: Granite Financial Holding, a digitally-enabled asset management company, has obtained the Financial Regulatory Authority's (FRA) approval to launch a new USD-denominated fixed income fund, as per an emailed press release.

The FRA's nod supports Granite's commitment to providing advanced tools for investors in the CashTech sector and boosting the growth of Egypt’s capital markets.

Launched in partnership with Naeem Holding for Investments, the fund invests exclusively in savings instruments and dollar-denominated tools, allowing clients to benefit from stable returns in hard currency.

The account also offers clients the advantage of daily subscriptions and weekly redemptions without restrictions or penalties.

On its part, Granite will be the fund’s investment manager, ensuring professional management of dollar-denominated instruments and delivering added value to investors in accordance with approved regulatory frameworks.

Hisham Akram, Founder and CEO of Granite, commented: "We believe that the future of liquidity management depends on combining a strong regulatory framework and advanced technological infrastructure, and it affirms the strength of the regulatory framework in Egypt that supports the growth of the financial sector and provides a safe environment for investors."

Akram added: "At Granite, we are working diligently with our partners at Al Naeem to promote the culture of using cash funds in Egypt as an effective tool for liquidity management and obtaining the highest returns through our smart financial solutions, which contributes to raising financial awareness and expanding the base of investors who benefit from the advantages of these tools within the Egyptian market."

On his part, Youssef El-Far, Vice Chairman and Managing Director of Al Naeem Holding, said: “This collaboration offers a solution that combines safety with competitive daily returns and enhances our ability to introduce innovative dollar-denominated products that meet the growing demand for fixed-income instruments.”