By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    CBE considers raising banks' reserve requirement
    CBE considers raising banks’ reserve requirement
    April 1, 2023
    Banks discuss amending interest rates on their savings, loan products
    Banks discuss amending interest rates on their savings, loan products
    April 1, 2023
    Egypt, EU discuss cooperation in economy, migration
    Egypt, EU discuss cooperation in economy, migration
    April 1, 2023
    Hermes Brokerage tightens its grip on EGX trading in 1Q 2023
    Hermes Brokerage tightens its grip on EGX trading in 1Q 2023
    April 1, 2023
    Industry Ministry hands over contracts for 113 industrial units to 60 investors in New Fayoum
    Industry Ministry hands over contracts for 113 industrial units to 60 investors in New Fayoum
    April 1, 2023
  • Politics
    PoliticsShow More
    Ramadan fasting is related with leniency in legal system: Study
    Ramadan fasting is related with leniency in legal system: Study
    April 1, 2023
    Egypt renews its support for comprehensive political settlement in Syria: Shoukry
    Egypt renews its support for comprehensive political settlement in Syria: Shoukry
    April 1, 2023
    Ugandan president says peacekeepers will help stabilize eastern DR Congo
    Ugandan president says peacekeepers will help stabilize eastern DR Congo
    March 31, 2023
    Formes US President Donald Trump Is Indicted in New York
    Trump indicted in hush-money payment case
    March 31, 2023
    Humza Yousaf is to be the first minister of Scotland after narrowly winning the election for leader of the Scottish National Party
    Humza Yousaf becomes Scotland’s first minister: A decade of polls suggest he’ll struggle to deliver independence, just like Nicola Sturgeon
    March 30, 2023
  • Interviews
    InterviewsShow More
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Azimut Egypt aims to launch gold investment fund next February
Share
Notification
Latest News
Ramadan fasting is related with leniency in legal system: Study
Ramadan fasting is related with leniency in legal system: Study
Politics Egypt
Egypt renews its support for comprehensive political settlement in Syria: Shoukry
Egypt renews its support for comprehensive political settlement in Syria: Shoukry
Politics Egypt
CBE considers raising banks' reserve requirement
CBE considers raising banks’ reserve requirement
Banking
Banks discuss amending interest rates on their savings, loan products
Banks discuss amending interest rates on their savings, loan products
Banking
Egypt, EU discuss cooperation in economy, migration
Egypt, EU discuss cooperation in economy, migration
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Azimut Egypt aims to launch gold investment fund next February
Business

Azimut Egypt aims to launch gold investment fund next February

Fatma Salah
Last updated: 2023/01/10 at 10:30 AM
By Fatma Salah 2 Min Read
Share
Azimut Egypt aims to launch gold investment fund next February
SHARE

Azimut Egypt is preparing to launch the first investment fund in precious metals, in cooperation with Evolve Investment Holding, next February.

Ahmed Abul-Saad, managing director of Azimut Egypt, revealed that the fund is awaiting final approvals from the Financial Regulatory Authority to launch it in the coming days, provided that its size is determined as soon as the subscription door closes.

He explained that the aim of the fund is to provide various investment tools to interested investors, especially with the increase in the luster of gold as an investment vessel in the recent period, explaining that subscription to the fund will be available to individuals.

Daily News Egypt had previously published that Sameh El-Torgoman, former Chairperson of the Egyptian Exchange, had submitted papers to establish a movable guarantee fund in precious metals “gold,” and that another company was seeking to launch the same type of fund.

Movable values funds work to provide liquidity to sectors that own valuable assets, most of which are movable, by securitizing financial rights over them, which requires partnerships with companies working in the field on which rights are securitized.

Evolve was established as an investment holding company with a capital of EGP 70m, with the participation of 8 local investors who are well-known personalities in the fields of financial markets, commodities and technology, with the aim of investing in gold-backed financial instruments, as a first stage, followed by the addition of minerals and other financial instruments.

El-Torgoman revealed, in previous statements to the Daily News Egypt, the launch of a number of funds, including a fund to invest in gold.

You Might Also Like

CBE considers raising banks’ reserve requirement

Banks discuss amending interest rates on their savings, loan products

Egypt, EU discuss cooperation in economy, migration

Hermes Brokerage tightens its grip on EGX trading in 1Q 2023

Industry Ministry hands over contracts for 113 industrial units to 60 investors in New Fayoum

TAGGED: Azimut
Share this Article
Facebook Twitter Email Print
Previous Article Opinion| Stagflated Economy                                                         Opinion| Stagflated Economy                                                          Opinion| Stagflated Economy 
Next Article Dollar exchange at CBE increases by over EGP 0.50 on Monday Dollar exchange at CBE increases by over EGP 0.50 on Monday
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Ramadan fasting is related with leniency in legal system: Study
Ramadan fasting is related with leniency in legal system: Study
Politics Egypt
Egypt renews its support for comprehensive political settlement in Syria: Shoukry
Egypt renews its support for comprehensive political settlement in Syria: Shoukry
Politics Egypt
CBE considers raising banks' reserve requirement
CBE considers raising banks’ reserve requirement
Banking
Banks discuss amending interest rates on their savings, loan products
Banks discuss amending interest rates on their savings, loan products
Banking
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?