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Beltone manages fund to finance financial intermediation companies

Beltone manages fund to finance financial intermediation companies

ArabFinance: The Central Bank of Egypt (CBE) assigned Beltone Financial Holding (BFH) management of a fund established to finance financial intermediation companies, according to Al Mal.

EGP 1 billion is, reportedly, earmarked for the fund. The exact figure is yet to be disclosed.

In early April, the Financial Regulatory Authority (FRA) allowed its registered companies to manage funds, specifically targeting margin activity for securities companies.

BFH suffered a consolidated net loss of EGP 132.42 million in 2020.

Beltone is an Egypt-based company, which operates within the diversified financial sector focusing on investment banking and brokerage.

The company develops an online trading platform, called Beltone Trade, as well as provides brokerage services, asset management, investment banking, liquidity services in regional markets, and research and analysis services.

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