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Tuesday, 24 November 2020

NI Capital plans new fixed-income fund, expanded microfinance portfolio

NI Capital is planning to launch a fixed-income investment fund, CEO Mohamed Metwaly said, according to Al Mal. NI’s parent company, the National Investment Bank (NIB), could contribute to the fund, Metwally said without providing further details. The launch would come as part of a strategy which will also see it expand its microfinance lending portfolio. NI Capital last week acquired Bank Audi’s Arabeya Online brokerage. Planning Minister and NIB Chairman Hala El Said at the time said the acquisition will allow the bank to expand its non-banking financial services offering.

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