The business is expected to be fully operational by November 2022
Mirza Ashraf Beg.
Money Protects (MP) has signed an agreement with Crowe MAK UAE & JRB Chartered Accountants in Dubai for one-of-a-kind business consultancy. The duo finalized iconic business plans, market and financial analyzes and 5-year financial projections.
MP – expected to be fully operational by November 2022 – is a pioneering startup in the financial ecosystem, sustainable financial freedom solutions for individuals and businesses in wealth creation and management.
Mirza Ashraf Beg, founder of Money Protects shared his vision. “Our structural and operational plan is to bring financial innovations together to bridge the gap between long-term sustainability and trust in the financial services ecosystem with a goal of potential unicorn expansion within 2-3 years. “
The overall objective is to target and reduce impairments of UAE NPLs (non-performing loans) by Dh20 billion in 3-5 years, with an annual addition of Dh150 billion. As the current banking and financial market is too favorable to their wallets and fails to restructure the problem or offer real affordable solutions to the customers. Rather, the process ranges from default, retail and corporate recoveries and often even leads to legal action. Although lenders are on a rollercoaster ride having provisioned their writedowns, there is no discount on UAE gross NPLs. — [email protected]