Rashad: The acquisition of a company that owns an investment fund as part of the expansion plan for 2021
The company plans to launch the remaining “Du” products before the end of this year
50 thousand target clients for the asset management platform and 400 thousand for the brokerage application
Mubasher Financial Group launched its new brands in the field of financial services “Du” through a single electronic platform that includes a number of services with investments of 360 million pounds.
“Du” plans to launch “Du Predict”, “Du Info”, “Du Advice”, “Du Private Equity”, “Du Fund”, “Du Fixed Income” and more investment solutions. According to what was announced by the company’s executive management yesterday, Tuesday, during a press conference.
Ehab Rashad, Vice Chairman of Mubasher International, revealed that his company had launched two products from the “Du” platform, namely, “Du invest”, “Du trade, which has a total of 10 products, pointing out that the company plans to launch the rest of the products before the end of 2021.
He pointed out that the platform came as a result of the fruits of two years’ effort, as the company has been working on the program since 2018, explaining that practical experiments have been applied on the platform and proved its efficiency.
Rashad added that the company is always striving towards the technological environment and smart investment, as it has developed a technological infrastructure for a crowdfunding system and is awaiting the issuance of special legislation to start work.
Rashad revealed that his company is seeking to acquire one of the companies that own an investment fund as part of its plan to join major asset managers in Egypt and maximize its managed assets during the current year.
Osama Safwat, Managing Director of Mubasher and responsible for “Du invest”, revealed that the new platform that it launched targets 50,000 customers during 2021, pointing out that the target age group of clients ranges from 21 to 45 years.
On the sidelines of the conference, Safwat added that the outbreak of “Corona” changed the savings behavior of individuals and led many towards changing their saving culture, stressing that the company took into account all possible variables, and launched the platform according to a well-studied policy and methodology.
He pointed out that the platform provides courses and training courses to learn investment as well as the possibility of investing through virtual accounts as part of investment awareness.
In response to a question by the “Stock Exchange” about the availability of Islamic products, Safwat revealed the availability of 5 Islamic products within the investment platform, whether at the level of portfolios or investment funds, such as the Al Baraka Bank Fund or Abu Dhabi Islamic Bank.
He stressed that the platform is not only for individuals, but there are programs designed for companies and institutions to create a savings system for their employees.
He pointed out that the “Du invest” platform is the first savings and investment platform in Egypt that allows individual investors, of all income groups, to invest their savings efficiently. With diversifying their investment portfolios through flexible investment solutions such as: investment savings plans (retirement, children’s education, marriage, etc.).
For his part, Mostafa El-Kanawy, Managing Director of Mubasher Securities Brokerage, in charge of Du Trade, said that the application will raise the number of dealers on the Egyptian Stock Exchange from an average of 100,000 active investors currently to more than half a million customers, in light of the presence of a fixed monthly subscription and no commissions to trade , And with a maximum of less than 50 pounds per month.
“Du” is the latest project of Mubasher Financial Group, one of the five largest institutions operating in the non-banking financial sector in Egypt, with more than 15 years of experience in financial trading in the stock market and other financial investment fields.
The article “Mubasher” launches its new platform “Du” with investments of 360 million pounds, it was written in Al-Borsa newspaper.