Cairo – Mubasher: Mubasher Financial Services, one of the five largest non-banking financial institutions in Egypt, has launched a new investment platform that helps individuals of all income classes to invest their savings.
Mubasher has invested more than EGP 360 million in launching its new Du brand for financial services, the first of its kind in the Middle East that caters to the needs of all investors.
Osama Safwat, Managing Director of Du Invest, said that Mubasher launched 10 new products under the Du brand, including Du Invest, Du Trade, Du Play, and Du Lean with the aim of encouraging the entry of new investors and providing financial education.
Du Invest is the first online financial platform in the Middle East specialised in investment and asset and wealth management for individuals, Safwat added.
It allows investors of all income classes to invest their savings efficiently and seamlessly in a diversified portfolio through flexible investment solutions such as investment and saving plans for retirement, marriage, and education, etc.
Individuals can start with an investment of EGP 500 monthly through Du Invest which allows investing in fixed income, equities, and Sharia-compliant investment plans.
In case of conventional investment, people can turn a monthly investment of EGP 1,000 into EGP 120,000 in 10 years through Du Invest's fixed-income instruments that give a 10% annual return.
At the end of the investment period, the invested amount can turn into EGP 200,000-250,000 instead of EGP 120,000, into EGP 750,000 instead of EGP 240,000 after 20 years, or into EGP 2 million instead of EGP 360,000 in 30 years.
Moreover, annual increases will be made in the invested amount in proportion with inflation, which will have a significant positive impact on the performance of the portfolio at the end of the investment period, he pointed.
Withdrawals and deposits can be made at any time without being limited to a freeze period.
You can also change or cancel investment plans without any limitations and without losing interest even if the investment period was only one day, he affirmed.
The investment portfolio is like an advanced form of the Post Office’s savings accounts but with the highest returns in the market. The higher your investment, the higher accumulated returns you can get.
The managing director further added that one of the main reasons behind launching Du Invest is the limited number of savings products in the market and the many requirements and limitations associated with withdrawal from these investment schemes in which you would lose a lot of your savings, if you chose to quit.
We, at Du Invest, worked for a long time on the business model with our main objective focused on the customer. We worked on picking the advantages of each investment and savings product in the market, while avoiding their downsides.
We provide the benefits of the retirement investment plans offered by life insurance companies, together with the flexibility and seamlessness of savings accounts and investment certificates, while avoiding any complexities, requirements of a monthly payment, or risks related to losing investment at the time of withdrawal.
With Du Invest, you can make any withdrawals at any time, increase or decrease monthly payments, or even drop payments for a month or more.
In addition, you can make withdrawals and deposits and access information about the value and performance of your investment via the mobile app.
Du Invest is building savings plans for individuals and institutions through investment fund certificates in a flexible manner. As for investment certificates at banks, customers have to visit the bank to link their certificates with their accounts. With Du Invest, each customer has one account in which they can access all information online and make any deposits and withdrawals at any time.
Safwat added that Egypt is one of the top countries that receive remittances from expatriates who are continuously looking for investment products and opportunities in their homeland.
Regarding how to reach Egyptian expatriates, Safwat said that marketing is no problem for Du Invest; however, paper signatures are still required from the Financial Regulatory Authority (FRA).
The company has already submitted a requested to the FRA in this regard and the financial technology law has been issued by the FRA and but still awaits approval from the House of Representatives.
Mubasher targets all categories to help them take investment decisions and works on implementing the economic plan adopted by the government by entering into partnerships with several entities such as government banks and non-government organizations (NGOs) to raise awareness about financial literacy.
He added that Du Invest is like an electronic money box but with returns in which you can save EGP 500 or more than EGP 10 million.
The company aims to attract 50,000 customers by the end of 2021, he said, noting that about 1,000 users have signed up to the platform in the first two weeks since its launch. It entered into several partnerships related to financial inclusion and education.
The platform also targets companies without employee retirement plans to design plans for them where employees will be able to monitor their investments online and make deposits via the mobile app.