The Secretary-General of the International Union of Arab Bankers - Wissam Fattouh – declared that "Rakhaa" Monetary Fund The United Bank wins the best Sharaa compliant investment mechanism award for the second consecutive year in the Lebanese capital Beirut on last Friday, July 5, 2019.
The award was received by The United Bank’s team : Farag Abdul Hamid, Deputy Chairman and Managing Director, and Nevine Kashmary, Deputy Managing Director of Business Sectors, Dr. Ahmed Al Ghandour, Assistant Managing Director of Investment Sector and Hassan Al Hawary, Assistant General Manager of Investment Funds and Treasury, in the presence of a large crowd of senior bankers and international personalities and media.
Commenting on the receipt of the award, Farag Abdul Hamid, Deputy Chairman and Managing Director of The United Bank – said that "Rakhaa" Monetary Fund compliant with Sharaa has been awarded the Best Investment Mechanism for the second consecutive year which has put The United Bank and its products, especially Shariaa compliant in a distinguished position in the Egyptian market and the Middle East.
"Rakhaa" Monetary Fund is one of the best Islamic investment mechanisms in the Egyptian market. This is because it gives the client the opportunity to invest in safe and Shariaa compliant at the same time.
Farag Abdul Hamid said that the indicators of the performance of the "Rakhaa" monetary fund showed the issuance of all indicators of the domestic and international market. This is attested by international financial institutions such as: Euromoney's Global Investor, which has awarded Rakhaa Fund the Best Mutual Fund in the Middle East for 2018, which is recognized by asset management professionals across the Middle East and North Africa in asset management.
Nevine Kashmary, Deputy Managing Director of the business sectors, said that the continued issuance of the Rakhaa Fund for cash funds managed in accordance with the principles of Islamic Sharia in the Egyptian market, in addition to these international awards and confessions in the Middle East, is a tribute to the efforts of the Investment Manager.
A strategy based on creativity and innovation in the banking solutions
Nevine Keshmiry said that the strategy of The United Bank is based on the idea of continuous diligence, research and renewal of the best Shariaa compliant financial and banking solutions to suit customers both individuals and companies of all sizes, activities and aspirations.
The Shariaa-compliant "Rakhaa" fund is one of the most important investment funds in the Egyptian market. This is because it has many advantages. The most important of these are: The cumulative daily return given by the Fund to the other funds in the market, tax exemption and the possibility of purchase / redemption on a daily basis until 12 noon at all 60 branches of The United Bank. . Without any expenses for the subscription or redemption process as well as it does not deal in shares at all. It also enables its clients to borrow by guarantee of documents.