Dahab Masr, the investment group that specialized in trading and marketing gold and silver ingots and utilizing financial technology in the local market, has entered into a partnership with Egy-Cash, the leading company in financial technology solutions, money transfer, and precious metals custody, which is affiliated with the Central Bank of Egypt in its role as the “Custodian of Precious Metals”.
Fady Kamel, the CEO of Dahab Masr, expressed his delight in establishing this partnership, which reflects Dahab Masr's commitment to its promises of providing fair opportunities for everyone to invest in physical gold through inclusive financial instruments and tools. The partnership with Egy-Cash aims to securely preserve investment assets and ensure government oversight, aligning with Dahab Masr's future vision and highlighting its role as a Market Leader in leveraging financial technology in the local precious metals market.
This technology works to create a fair investment atmosphere that allows investors to Practice their rights to buy and sell at any time without implementing any limitations.
It also aims to avoid the chronic problems that the market has faced in recent periods, which have harmed the savings of citizens in previous times.
Some traders and companies have resorted to having custody over the investors' investment assets (gold) without permission or guaranteed control over these practices, putting investors' savings under the whims and control of those companies.
Mr. Amr Fouad, the GM of Dahab Masr, emphasized the company's commitment to providing specialized financial technology services for digital transformation in precious metals investment to help individuals and institutions protect their funds and savings, and achieve financial inclusion, especially in light of the global economic conditions.
He also noted that this agreement comes amidst the challenging economic conditions experienced by global markets, making gold an ideal investment option due to its ability to preserve its value in times of crisis. He further explained that there has been a noticeable growth in the demand for gold as a means of saving and investment, accompanied by a significant change in individuals' behavior in acquiring gold. This has led to increased demand for investment ingots more than gold jewelry in recent times, based on the diversity of different weights that vary according to investors' purchasing power and needs.
It is worth mentioning that Dahab Masr offers its clients investment services in gold with various weights, starting from a quarter gram up to a kilogram, through its electronic platform (DAHABMASR.COM) in collaboration with several reputable Egyptian companies and factories in the local market, as it believes in supporting Egyptian products.
Additionally, it provides safe storage and the ability to receive real gold without placing a minimum weight requirement through its strategic partnerships at advanced levels. These partnerships work to facilitate and improve the overall experience for the investor, enabling them to buy and sell at any time.
On the other hand, Major General Gamal Abu Ismail, the GM of Egy-Cash, expressed his strong belief in the importance of innovation and development as fundamental elements in achieving success and sustainability in the gold sector. He stated that EgyCash is committed to providing modern solutions that contribute to improving and securing storage operations. He emphasized that this approach comes within the efforts made to develop this sector and achieve sustainable development for the national economy, meeting the aspirations and needs of citizens effectively. He concluded his statement by saying, 'We are pleased with this partnership with one of the promising companies in the gold investment sector, providing safe opportunities for citizens. The company, in turn, will spare no effort in supporting the gold market and companies interested in preserving and storing precious metals.'
Brigadier General Hani Shaker, the Director of Contracts Management at Egy-Cash, added that 'Egy-Cash' is committed to implementing all the requirements and controls set by the Financial Regulatory Authority regarding the registration and removal of precious metals custody service providers. These requirements include the availability of technical and technological prerequisites and the use of secure and appropriate premises for storing precious metals at the highest level. The company utilizes the latest surveillance operations rooms and secure vaults for gold storage, providing high protection and security measures for its facilities.
Egy-Cash was established in 2019 under the directives of the Central Bank of Egypt, which owns the largest share of the company. Since the beginning of its services in money transfer, precious metals, and replenishing ATMs in October 2020, the company has been operating according to the latest global technological systems for monitoring and management. The company has employed the latest German software, which is considered the best in this field, and these technologies operate through five modern servers. Additionally, the company has undergone multiple inspections by the Egyptian Financial Supervisory Authority to ensure the storage and security of precious metals. The company is now a national security company, having quickly covered all parts of the Republic, including regions, governorates, and remote areas, making it an integral part of the country's strategy to enhance financial inclusion and digital transformation.
Dahab Masr was established in 2021, with the vision of transforming the local gold market from traditional platforms to electronic platforms with financial technology solutions and operating within the banking sector, Know Your Customer (KYC) protocols and Anti-Money Laundering (AML) systems. The company provides a secure and efficient environment for gold and silver investments, ensuring equal opportunities for all Egyptians in a fair and transparent investment climate. Dahab Masr seeks to correct misconceptions surrounding gold investment and enhance the culture of making informed investment decisions. The company employs a specialized market research team to measure supply and demand trends and monitor changes in individual investors' behavior. Additionally, they have an advanced team continuously studying the economic conditions that affect the prices of precious metals and their effect on the local gold market. This enables the company's clients to make more precise investment and savings decisions. Dahab Masr is also an authorized distributor for reputable local companies such as EL-Galla Gold, Selima Gold, Gold for Generations, Master Gold, and Nagm Ad-din. These companies provide gold and silver products manufactured by Egyptian hands with quality that matches international products. Furthermore, Dahab Masr is a distributor of products from Sam Precious Metals - Egypt, a globally recognized and leading company in gold ingot production, highlighting Dahab Masr's commitment to supporting the local economy and creating new job opportunities to enhance sustainable development. The company firmly believes that investing in gold has the ability to create a promising and brighter future for Egypt to become a center for precious metals in Africa.