Mubasher: Du Trade platform, a subsidiary of Mubasher International for Securities (Mubasher Trade), has signed a cooperation agreement with financial services enabler Telda to facilitate deposit and withdrawal transactions around the clock.

CEO of Du Trade, Mohamed Keshk, stated that the partnership aims to accelerate deposit and withdrawal transactions to take up to 30 seconds, which will save time and effort.

Keshk elaborated on the agreement by saying that clients will be able to carry out the transactions directly between Telda and Du Trade apps, not the bank accounts.

He added that clients will also be able to obtain the balance available for withdrawal from Du Trade application at any time within 30 seconds only, whether by heading to any ATM or using the amount in point of sale (POS) transactions.

The agreement will further allow creating e-contracts through mobile phones within 30 seconds.

CEO and Co-Founder of Telda, Ahmed Sabbah, said that the main objective of the collaboration with Du Trade is to encourage young investors by removing some risks, noting that there will be no fees on transactions during the first phase of the agreement until the end of 2023.

Sabbah added that Telda adopts a strategy aiming to increase the number of e-wallets to 1.50 million by the end of 2024, compared with 500,000 e-wallets at the end of 2022.

Du Trade platform simulates buying and selling securities, which offers a virtual live experience similar to what goes on inside stock markets.

The platform also provides educational multimedia for the subscribers to upskill them in the field of trading on stock exchanges until they are able to analyse companies’ results in a technical and financial way.