AAIB launches Tax Exempt Gozour Fund

Arab Africa International Bank (AAIB) has launched its newest mutual fund “Gozour” which is investing in fixed income instruments such as government bonds and bills, companies bonds, repurchase agreements, mortgage-guaranteed bonds and deposits.

Documents’ IPO will be on a daily basis in all the bank’s branches with a minimum limit of 100 documents and a nominal value of 10 pounds for each document. Arab African Investment Management (AAIM) is the fund manager, AAIB said in a statement on late Thursday.

Gozour Fund is a suitable investment instrument for individuals, companies, banks, insurance companies, mutual funds and pension funds.

Gozour Fund is a low risk investment instrument through engaging in diverse investments as well as it is an alternative for companies’ saving certificates.  This fund also can work as a cash flow provider as the investors can redeem a part or total of their savings once monthly without having to pay redemption fees. In addition, Gezor fund provides a tax-exempt return.