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First National opens investment fund

Mohamed Rehan
14 August 2022, MVT 15:16
Mohamed Rehan
14 August 2022, MVT 15:16

First National Finance Corporation (FNFC); a local fund management advisory firm has opened its investment fund for local ventures and individuals.

Interested investors must fund a minimum of MVR100,000 into the fund.

According to the firm, investors will receive a 5.5 percent of return on investment (ROI) after a year's period of investing.

Speaking about the new fund, Manager, Capital Markets and Institutions Mr. Ahmed Nasir said the firm aims to strengthen the financial sector of the Maldives by providing similar opportunities to local professionals, and other interested parties.

Nasir further affirms the company's products are prospective, secure finance instruments. Additionally, he attests the products adhere to the regulations of Capital Market Development Authority (CMDA).

FNFC identifies investment funds as "a structure to pool funds from various individuals or corporations and use the accumulated pool of funds to invest in various activities or other financial instruments."

The firm has already established an online platform for investors to pool investments into the fund.

In addition to this, FNFC reports that a maximum of 50 parties will be allowed to invest into the fund. Apart from the investment fund, the firm had earlier opened a savings fund in mid-July 2022.

Founded in 2021, the First National Finance Corporation aims to bridge the gap between Maldivian financial sector with international financial markets. Currently, FNFC provides three major services which include issuance of stock, bonds and sukuk, fund management and wealth management.

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