Egypt’s 1st gold investment fund raises EGP 200M since launch
Updated 8/7/2023 4:15:00 PM
Arab Finance: Egypt’s first gold investment fund has raised up to EGP 200 million from 32,000 investors since launch, according to an emailed press release, quoting CEO of Azimut Holding Ahmed Abou El-Saad.
The group is considering the establishment of an investment fund for Egyptians abroad to secure investments in foreign currency as well as attract foreign investments to Egypt’s sovereign bonds, Abou El-Saad said.
Launching the fund is pending the initial approvals of Nasser Social Bank and the Financial Regulatory Authority (FRA), he said.
Additionally, he pointed out that the state aims to attract savings from Egyptians overseas amid the current challenges.
He also unveiled additional insurance policies that cover various risks, in collaboration with Egyptian Takaful Insurance.
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