Cairo-based GRANITE Financial Holding has secured approval from Egypt’s Financial Regulatory Authority (FRA) to launch its first multi-currency fixed-income fund. The fund’s inaugural issuance, the GRANITE EGP-Denominated Money Market Fund, is being launched in partnership with Naeem Holding for Investments.
This milestone marks the company’s entry into Egypt’s evolving CashTech sector, combining regulatory credibility with a digital-first approach to asset management.
Digital Rollout and Vision
GRANITE’s next move is the rollout of its fully digital Money Market Account (MMA). Designed to help users maximize returns on liquid cash, the platform will provide a simple, secure, and high-yield digital investment experience.
The platform will allow investors to:
- Access and manage accounts entirely online
- Earn daily returns on liquid cash
- Enjoy full liquidity with flexible withdrawal options
- Benefit from a transparent and user-friendly experience
This launch represents a critical step toward transforming how individuals and businesses manage short-term liquidity in Egypt.
Expansion into Multi-Currency Funds
GRANITE also plans to apply for an FRA license to launch a USD Money Market Fund by the end of the year. The company’s long-term strategy is to pioneer multi-currency cash management solutions, allowing investors to diversify and optimize idle balances in both local and foreign currencies.
This initiative reflects the founders’ expertise in asset management, banking, and financial technology, positioning GRANITE as one of Egypt’s leading digital financial innovators.
Fund Features and Market Impact
The GRANITE Money Market Fund is designed to accelerate the adoption of institutional-grade financial products among retail and corporate investors. Its investment strategy focuses on Egyptian Treasury bills and government securities, minimizing risk while providing competitive yields.
Key features include:
- Exposure to low-risk, government-backed instruments
- Tax-free returns for corporates
- Higher daily yields than traditional bank deposits
- Full liquidity, allowing easy access to funds
- Protection against inflation and currency volatility
This makes the fund a compelling option for both individuals and corporations seeking safe, high-performance alternatives to traditional savings accounts.
Leadership Statements
Hisham Akram, Founder and CEO of GRANITE Financial Holding, said:
“The FRA license reinforces our commitment to regulated, transparent, and technology-driven financial innovation. Our mission is to empower individuals and corporates to transform idle liquidity into productive financial growth.”
Hussein El Sheikh, Co-Founder and Managing Director, added:
“Our fund reflects a strategic vision focused on sustainability and simplicity. By turning cash into a yield-generating asset, we help clients achieve measurable growth and align with Egypt’s broader digital transformation goals.”
Regulatory and Market Significance
The FRA is currently reviewing GRANITE’s application for a digital license, which would formalize its entry into Egypt’s fintech ecosystem. This aligns with national efforts to expand financial inclusion and digitize capital markets.
Founded in 2023, GRANITE Financial Holding aims to redefine cash management through technology, offering efficient, secure, and yield-focused financial products that contribute to Egypt’s evolving financial infrastructure.