Cairo – Mubasher: Mubasher International Trade for Securities (MubasherTrade) is receiving online requests for subscription to the National Investment Bank’s (NIB) Liquidity Fund, Ehab Rashad, Vice Chairperson of Mubasher Capital Holding for Financial Investments, said.
The nominal value of the certificate is EGP 10 and the minimum subscription value is EGP 1,000, Rashad revealed.
Liquidity fund, which generates a daily cumulative return, is the first fund to be established by investment managers.
The Minister of Planning and Economic Development, Hala El-Saeed said that the fund aims to raise EGP 50-100 million to be invested in liquid and short-term financial instruments such as bonds, treasury bills, bank deposits, financial instruments, savings certificates, and other investment fund certificates.
The subscription period is expected to last for two weeks.
Subscribers can purchase certificates online through Arabeya Online, owned by NI Capital, and Mubasher. NI Capital will promote the fund for large institutions.