Qatar cuts key interest rates by 25 bps    Global pressure mounts on Israel as Gaza death toll surges, war deepens    Egypt targets 7.7% AI contribution to GDP by 2030: Communications Minister    Irrigation Minister highlights Egypt's water challenges, innovation efforts at DAAD centenary celebration    Egypt discusses strengthening agricultural ties, investment opportunities with Indian delegation    Al-Sisi welcomes Spain's monarch in historic first visit, with Gaza, regional peace in focus    Cairo governor briefs PM on Khan el-Khalili, Rameses Square development    El Gouna Film Festival's 8th edition to coincide with UN's 80th anniversary    Egypt expands medical, humanitarian support for Gaza patients    Egypt condemns Israeli offensive in Gaza City, warns of grave regional consequences    Cairo University, Roche Diagnostics inaugurate automated lab at Qasr El-Ainy    Egypt investigates disappearance of ancient bracelet from Egyptian Museum in Tahrir    Egypt launches international architecture academy with UNESCO, European partners    Egypt signs MoUs with 3 European universities to advance architecture, urban studies    Egypt's Sisi, Qatar's Emir condemn Israeli strikes, call for Gaza ceasefire    Egypt condemns terrorist attack in northwest Pakistan    Egyptian pound ends week lower against US dollar – CBE    Egypt hosts G20 meeting for 1st time outside member states    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



CIAM targets EGP 10bn asset management portfolio year-end
We intend to bring our electronic expertise to funds we manage, similar to Suez Canal Bank fund, says Aboul Enien
Published in Daily News Egypt on 04 - 07 - 2020

CI Asset Management (CIAM) aims to bring the size of its asset management portfolio to EGP 10bn by the end of 2020, according to Amr Aboul Enein, Managing Director of CIAM. This figure compares to the EGP 8.6bn reported at the end of March.
Aboul Enein added that subscriptions are being allowed for Suez Canal Bank Fund securities for the first time in Egypt through mobile banking.
The move coincides with Egypt's current push for digital transformation, which requires methods that allow for online banking.
This has become the focus of much discussion and action in light of the novel coronavirus (COVID-19) pandemic, where mobile banking is being encouraged over cash exchanges. The focus has shifted to the need to generalise electronic transactions as much as possible to reduce gatherings, which will enhance the demand for this mechanism and its significant success in the current period.
Aboul Enein told Daily News Egypt that his company will work to circulate the mechanism of dealing electronically to the rest of the funds that it intends to manage. It will address banks that own these funds to provide this mechanism, praising the role of the Financial Regulatory Authority (FRA) and its cooperation in providing all requirements to enable dealing electronically.
CIAM, a subsidiary of CI Capital Holding, manages several similar cash funds, such as the Commercial International Bank's (CIB) Mutual Fund since 2005, and Blom Bank Fund since 2009. It also manages the first cash fund consistent with the principles of Islamic law, set up by the United Bank of Egypt Rakhaa in 2012.


Clic here to read the story from its source.