The Financial Regulatory Authority (FRA) launched the first fund to invest in gold. This comes within the FRA’s strategy to support the Egyptian government’s efforts to enhance levels of financial and investment inclusion and develop the non-banking financial sector. The FRA issued all regulatory and legislative decisions and controls to regulate the dealings of investment funds in minerals. 52 of 2023 which entails the conditions that must be met by investment fund entities in order to purchase, deal and sell minerals. The fund will be run by Evolve Azimut, a joint venture between Evolve Holding and Azimut Egypt.

Source: Egypt Today May 15, 2023 07:37 UTC