Emi­rates NBD launches ‘Mazid’ in­vest­ment fund with cu­mu­la­tive pe­ri­odic re­turn

The Daily News Egypt - - News -

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.

Mo­hamed Berro, the CEO of Emi­rates NBD Egypt

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