GRANITE Secures Approval for Its EGP-Denominated Money Market Fund

GRANITE Financial Holding, a Cairo-based digital asset management company, has received approval from Egypt’s Financial Regulatory Authority (FRA) to launch its first EGP-denominated money market fund, developed in partnership with Naeem Holding for Investments. The fund will invest exclusively in Egyptian Treasury bills and government securities, offering investors a low-risk vehicle with daily liquidity and higher yields than traditional bank deposits. Corporate clients will also benefit from tax-free returns, making the product an accessible and efficient option for short-term cash management. The launch marks GRANITE’s entry into the regulated investment space and represents a first step towards its broader digital strategy. The company plans to introduce a fully digital Money Market Account, providing users with seamless access to deposits, withdrawals, and account management through an integrated platform. It also intends to apply for regulatory approval for a USD-denominated fund before the end of the year.