The United Bank Rakhaa fund comes on top of Islamic monetary funds’ performance in the market in 2022

07/02/2023

Mr Ashraf

The United Bank announced that the compliant with sharia monetary fund Rakhaa came on top of the Islamic cash investing funds’ performance in the market by the end of December 2022.  The fund is managed by CI Capital company.

Ashraf El Kady- Chairman of The United Bank, stated that Rakhaa fund with cumulative return is characterized by 13 competitive features, that makes it the best investment choice and the safest compliant with sharia monetary fund in the market:

The first reason: Rakhaa fund net assets with cumulative return have maximized to reach 608 million Egyptian pounds, with cumulative return 201.5% since the fund has been established.

The second reason: An upward spike of the certificate price to be 301.5 Egyptian pounds by the end of December 2022.

The third reason: The investment return on certificates has grown by the end of December 2022 to reach 11.75%. With 27.21-pound increase in the certificate price by end of 2021. That’s why Rakhaa fund’s performance came at the top of cash compliant with sharia fund by end of 2022 in the market.

The fourth reason: Rakhaa cash fund is featured by well selection to the investment tools that maximize the clients’ investments. Treasury bills and bonds are the most selective investment instruments, which makes Rakhaa the safest, strongest and the most trustable choice of the client.

The fifth reason: Rakhaa fund is classified as an open fund that allows free movement in terms of purchase/ redemption on a daily basis until 12 noon at all The United Bank 68 branches as per the subscription conditions.

The sixth reason: Clients can subscribe without any expenses for the subscription or redemption process, the thing that provides the clients with the required liquidity.

The seventh reason: Rakhaa fund doesn’t deal with stocks at all.

The eighth reason: UB finances clients with the certificates as a guarantee.

The ninth reason: Increase in the number of Rakhaa certificate compliant with sharia holders by end of December 2022 to reach 975 clients.

The tenth reason: Rakhaa fund received two awards locally and internationally:

  • Global Investors foundation affiliated to Euromoney granted the best Islamic monetary fund compliant with sharia in MENA in 2018, in assets management field.
  • The Arab Banking Union has awarded Rakhaa fund, The best Islamic investment fund compliant with sharia provision.
  • Rakhaa fund has been nominated by International Mena Fund Manager for the best income tools fund, compliant with sharia, in The Middle East.

The eleventh reason: Rakhaa monetary fund enjoys many advantages, comes on the top of them: daily cumulative tax- free return, prompting companies and individuals to subscribe. The minimum subscription for the fund is 50 for new customers.

The twelfth reason: The prospectus has been published after the approval of the fund Shariaa board, which is certified from The General Authority for Financial Supervision, as one of the investment mechanisms available to clients.

The thirteenth reason: The prospectus’ updates are available on UB website, as well as, the latest financial state for Rakhaa fund www.theubeg.com