Egyptian Prime Minister Dr. Mostafa Madbouly received a report from Mohamed Farid, Chairman of the Financial Regulatory Authority, detailing the success of gold investment funds in the country. By the end of last March, approximately 103,000 clients had invested in gold through two licensed funds.
Recent developments have seen the launch of new funds, including the “EZ-Gold” Fund by “Azimut” and consideration for a third fund affiliated with one of National Bank of Egypt’s companies. These funds are designed to support financial inclusion by allowing individuals to purchase gold through them, regardless of their financial means. The value of these funds tracks the price and index of gold announced by the Egyptian Stock Exchange.
Managed by licensed companies specializing in fund and portfolio management, these funds require a minimum initial subscription of 100 documents at a price of 10 pounds. Investments can be recovered either in gold or cash according to the fund’s stated policy before subscription. The subscription process involves applying to invest in the fund during the initial subscription period through designated entities such as securities trading operations and portfolio and fund management companies.
The Chairman emphasized that these funds provide valuable opportunities for investors of all levels to participate in gold investment, contributing significantly to Egypt’s overall financial landscape.
