Money Protects (MP) has signed an agreement with Crowe MAK UAE & JRB Chartered Accountants in Dubai for a one-of-a-kind business advisory. The duo finalised iconic business plans, market and financial analysis, and financial projections over the course of 5 years. MP is set to be fully operational by November 2022. Money Protects (MP) is a start-up promising a pioneering financial ecosystem, sustainable financial freedom solutions for individuals and corporates in wealth creation and management.
The objective at large is to target and reduce UAE's NPL (Non-Performing Loans) impairments by Dh20 billion in 3-5 years which has a yearly addition Dh150 billion. As the current banking and financial market is too friendly on their portfolios and fails to restructure the problem or give real affordable solutions to clients. Rather, the process goes from default, retail and corporate recoveries and many a time even leads to legal cases. Although the lenders are on a roller-coaster business having provisioned their impairments, there is no reduction on gross UAE NPLs.
Money Protects focuses on a working model that follows research backed plans thoroughly, with global standards, and has a copyright on the innovation model which well approved at European IP Depository, Berlin, Germany.
Mirza Ashraf Beg, Founder at Money Protects shares his vision. “Our structural & operational plan is to bring financial innovations together to bridge the gap between sustainability and long-term confidence in the financial services ecosystem with an objective of potential unicorn expansion within 2-3 years.
“Our eventual bigger objective is to increase the consumers reach in complex financial technology products for greater financial stability & equitable growth through our highly simplified services, and to solve the real consumer problems for their sustainable financial freedom," he adds.
With an aim to continue emphasizing on the detailed professional activities under one umbrella to offer true value to consumers. Money Protects embarks on their business and leverages solutions on loops left over by banks and financial Institutions. To bridge this gap Money Protects’ innovative solution starts with 3 composite innovation packs (piloting Mortgage Loan Market) to revolutionise the financial services market.
The company plans to target an untapped Market of Dh17.45 billion yearly (NPL of 5 per cent average) with growth of 7.4 per cent year-on-year, along total available market in the sector is above Dh50 billion every year. Expected revenue size is estimated to reaching Dh1.8 billion in the year 2025, with a gross profit Dh698 Million. Operating expense will reach Dh50 million, and with net profit for the Year 2025 is Dh560 million.
Over five years Money Protects plans to expand in the GCC and US markets, establishing company size of $250 billion, touching a customer base of 200K along increased financial sustainability, purchasing power and economic stability, and strengthened real estate markets.
About Money Protects
Money Protects was founded in October 2021 by Mirza Ashraf Beg, an ex-banker and other investors from the banking industry with a joint objective of facilitating tech driven and digitally accelerated product offerings in financial planning and freedom, debt management and wealth management. The firm’s asset-backed restructuring and low-risk asset building innovation model is key to bringing long-term sustainability and growth, creating value propositions and problem-solving ecosystems. Other services include lifelong digitally enhanced financial guidance, innovation and support on debt, equity, restructure, income, cashflows, asset and liability etc.