When you have somehow managed to save a little nest egg in these financially troubled times, the first thought that enters your mind is about investing the hard-earned money for profits because money sitting in cash will eventually lose its value. But, there’s hardly an investment that doesn’t come with a risk.
That’s where Sarmaaya.pk comes in. It’s the first service of its kind that lets you understand your financials and make educated investment decisions. It’s a wealth management tracking cum financial literacy platform through which you can easily track your investments while at the same time educate yourself about the basics of investing in different markets.
With powerful tools and analytics, Sarmaaya gives a dynamic, real-time picture of your complete investment portfolio, allowing you to act wisely and make smart business moves. Sarmaaya archives data, updates it in real-time, and visualizes it elegantly to make the information more comprehensible and actionable for the investor.
Sarmaaya.pk is built by abcData Pvt. Ltd., an up-and-coming Pakistani data management company. “There are less than 250,000 people in Pakistan who have a capital markets account of any kind, according to data from the Central Depository Company (CDC), which is 0.11% of the total population,” shares Laeeq Ahmad, Founder & CEO of Sarmaaya.pk and abcData Pvt. Ltd.
“Our figures are worse than even Bangladesh that has 0.8% involvement of the total population. One of the major reasons is the lack of financial awareness. The idea of Sarmaaya.pk is to provide a platform where not only do we spread awareness through our content but also let people track their investment,” he informs.
Laeeq adds that in Pakistan we are more inclined towards real estate investment as it is considered to be a safe haven for investors, although there is a risk associated with it as well. Real estate is not a bad asset to have but it’s not the only asset. Besides, real estate is not a liquid asset, so if one needs some money, they need to sell the whole asset.
Unifying all liquid assets on one platform
“At Sarmaaya, we have unified all ‘liquid assets’ i.e. stocks, mutual funds, forex, and gold which can instantly be turned into cash. That’s one of the key reasons why most people invest in these assets; they’re just like cash that’s never far away and can be brought back home without delay. And unlike cash, these assets are gaining value over time. You can not only track the progress of each asset on the portal but also track your investments in these assets in real-time,” informs Laeeq.
By bringing different asset classes onto a single platform, Sarmaaya aims to help investors diversify their investments to minimize the risk. Stock is a high-risk market whereas mutual funds do have medium- and low-risk funds where people can invest. Similarly, forex and gold are good assets to invest in but come with their risk factors as well.
“Because of inflation, any currency is losing its value. In order to keep the value of your money, you need to convert it into an asset by managing its risk. Pakistan’s middle-class is projected to grow to 122 million by 2025. We want people to understand the financial potential,” shares Laeeq.
Sarmaaya aims for the platform to be available for businesses as well by providing CFOs with a tool through which they can not only choose any asset via its analytical platform, but also track it in real-time. Plus, companies with surplus cash can also invest in assets with lower risk and better returns.
Promoting financial literacy in Pakistan
The key reason why Pakistani people lose money in stocks, shares Laeeq, is a severe lack of financial literacy. Not knowing what they’re investing in, people tend to panic-trade based on market fluctuations that are a usual occurrence, he adds.
According to Laeeq, the secrets to success in stock investing are a long-term investment and business/market knowledge. “With Sarmaaya, the investor has the complete history of stock performance of the company they’ve invested in. Plus, they have the real-time performance of their portfolios at their fingertips. This enables them to make smart decisions.”
Besides investment tracking, Sarmaaya is also promoting financial literacy in Pakistan through informative content on its platform. It features expert-written pieces to help a common man understand the different avenues for investment to multiply income and secure the future.
“Sarmaaya is a trailblazing fin-tech solution that could potentially change the investment landscape of Pakistan. Today, especially in the Covid-hit economy, a common Pakistani is more financially challenged than before. So it’s high time Pakistanis became a little more creative in terms of investing their savings,” Laeeq stresses.
According to him, the best time to invest was 20 years ago, and the next best is now.
Sarmaaya.pk can be accessed through the web (i.e. sarmaaya.pk), as well as Android (“Sarmaaya” on Google Play Store) and iOS (“Sarmaaya” on Apple App Store) apps. For the latest announcements, follow their Facebook page.