Azimut Egypt, a subsidiary of the global asset management firm Azimut International Holding, announced that it has secured the first Fintech license from Egypt’s Financial Regulatory Authority (FRA) for its new digital investment platform, “azinvest.”
This marks a significant milestone in Egypt’s asset management sector by introducing a fully digitalized approach for accessing investment funds and portfolios.
The “azinvest” platform offers a seamless digital experience, enabling investors to easily access a diverse range of Azimut’s investment options. These include money market funds, fixed income, equities, multi-currency investments, and even gold.
This initiative is part of a broader effort to integrate more advanced technology in the non-banking financial sector, supported by recent updates to the FRA’s regulatory framework.
Aligned with Egypt’s ambitious financial inclusion strategy, “azinvest” aims to expand access to financial services across the nation.
The platform includes digital tools like e-KYC, e-identification, e-contracts, and e-registry, which remove the need for physical presence or wet signatures, thereby streamlining the investment process.
The app developed for “azinvest” allows users to explore various funds and manage their investments with ease. It also supports transactions such as deposits and withdrawals through multiple payment methods, enabling clients to adjust their investment portfolios to meet their evolving goals and preferences.
Ahmed Abou El-Saad, CFA, MBA, CEO of Azimut Egypt, highlighted the platform’s groundbreaking impact on the Egyptian investment asset management industry.
He praised the FRA’s forward-thinking regulation of technology use within the sector, noting that “azinvest” leverages Azimut International Holding’s 18-year legacy of spreading financial knowledge and adapting its experience to new markets.
The successful rollout of “azinvest” results from strategic collaborations with several technology partners, including Optimatica, Lumin, CyberSource, El-Delta Trust, and the payment gateway partner Paytabs.
The platform is designed to democratize investment options and foster financial inclusion, making it simpler and more accessible for Egyptians to manage their savings and investments effectively.
