In a plan which targets diversifying banking products offered to meet the needs of its clients, Emirates NBD launched a fund with cumulative periodic return under the name ‘Mazid’. It was launched to stress the bank’s leadership in the Egyptian market through offering available banking products that meet the various needs of different customers.
The EFG Hermes Group is managing the fund according to investment controls, and ratios determined by the bank. The fund provides daily cash liquidity through calculating a daily return on the invested funds, with the possibility of an offering and redemption in the fund’s documents on a daily basis.
“The bank is always keen on offering new things to its clients in order to meet their needs, and this is why it launched the investment fund for all clients. It invests in short-term debt instruments, which provide clients safety and the highest return possible,” said Mohamed Berro, CEO of Emirates NBD Egypt.
Berro added that he expects the fund to be met with great demand by clients, whether they are individuals or companies, as it allows flexibility in depositing, withdrawing, and obtaining a daily return.
Karim Awad, CEO of EFG Hermes, said that the company is happy to cooperate with Emirates NBD as one of the leading banks. The cooperation shows the bank’s confidence in working with EFG Hermes and stresses its ability to offer a wide variety of investment instruments in the market.