Egypt’s PALM App Goes Live, Empowering Users with Goal-Based Investing
Egypt’s fintech landscape has a significant new player with the official launch of PALM, the country’s first incentivized, goal-based investment platform. This milestone follows the company’s successful acquisition of a Portfolio Management License from the Financial Regulatory Authority (FRA). The launch marks a pivotal moment for financial inclusion in Egypt, as PALM aims to make professional investment management accessible to a broader retail audience through its innovative mobile application. The platform is designed to help users save, grow, and manage their money effectively to achieve their personal financial goals.
Democratizing Investment with Regulatory Approval
Securing the FRA license is a critical achievement that empowers PALM to directly manage investments on behalf of its retail users. This regulatory green light enables the platform to offer a comprehensive financial solution where users can save, grow, and access their funds with competitive daily yields. A key feature of PALM’s offering is its user-friendly fee structure, which includes zero fees for deposits, withdrawals, and transactions. Mazen El Kerdany, PALM’s Co-Founder and CEO, emphasized the license’s importance, stating, “Obtaining the FRA license is not just a regulatory milestone—it’s a validation of our mission to democratize access to professional investment management.” He added that with one app, users can “plan their life goals, grow their money, and spend smarter through our merchant partners.”
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