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.